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Hagerstown Trust absorbed by The Columbia Bank

September 13, 2009|By ANDREW SCHOTZ

HAGERSTOWN -- Hagerstown Trust and The Columbia Bank have merged.

On Saturday, Hagerstown Trust became known as The Columbia Bank, Hagerstown Trust Division.

Louis J. Giustini, Hagerstown Trust's president and chief operating officer, said the transition will be complete by Monday.

Both Hagerstown Trust and The Columbia Bank are part of Fulton Financial Corp.

The People's Bank of Elkton, another part of Fulton Financial Corp., also merged with The Columbia Bank. That was effective Aug. 15, according to Greg Hernandez of the Federal Deposit Insurance Corporation's Office of Public Affairs.

Giustini said the idea is to have "a larger brand across Central Maryland."

The Columbia Bank and its two new divisions will have a larger footprint, yet remain a community bank, he said.

Hagerstown Trust will keep a local board to make decisions, so, "as far as we're concerned, it's business as usual, but on a larger scale," Giustini said.

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Hagerstown Trust opened in 1933 and became part of Fulton Financial Corp. in 1994.

It has 10 full-service branches, an office at the Homewood at Williamsport retirement community, and a loan office in Washington and Franklin counties.

Hagerstown Trust has about 100 employees, Giustini said.

A letter to Hagerstown Trust customers last month says there won't be any changes to the branch staff.

Customers will gain access to The Columbia Bank's 29 branch offices and 34 ATMs in seven counties, the letter says.

A year ago, when the merger was announced, The Columbia Bank President and CEO John A. Scaldara Jr. said total assets will grow to about $2.4 billion after the three banks merge.

Hagerstown Trust's assets are a little more than $500 million, Giustini said.

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