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Business briefs - Feb. 13

February 12, 2011

Robert Goldsack Hospitality Architect LLC

Robert Goldsack Hospitality Architect LLC of Hagerstown has announced the opening of the new Bungalow Ale House in Woodbridge, Va.

It was the sixth Bungalow Ale House designed by Goldsack.

Also under construction is the new Pita House Restaurant in historic downtown  Alexandria, Va.  In addition, the new Bungalow Ale House in Sterling, Va., is under construction.

Robert Goldsack Hospitality Architect LLC, along with ASCRIBE studios, an urban design firm, have been active in redeveloping areas of downtown Hagerstown.



Fulton Financial Corp.

LANCASTER, Pa. — Fulton Financial Corp. has reported net income available to common shareholders of $31.5 million, or 16 cents per diluted share, for the fourth quarter ending Dec. 31, 2010, unchanged from the third quarter of 2010.

Total other expenses increased $4.4 million, and other income decreased $4.3 million. The unfavorable after-tax impact of these items was offset by a $6.2 million decrease in preferred stock costs.

For the year ending Dec. 31, 2010, net income available to common shareholders was $112.0 million, or 59 cents per diluted share, compared to $53.8 million, or 31 cents per diluted share, for 2009.



Capital City Funeral Directors Association

CAMP HILL, Pa. — The Capital City Funeral Directors Association was honored by The Hallmark Caring Place for its participation and help in their 5th Annual Parade of Trees held at the Radisson Penn Harris Hotel and Convention Center in  Camp Hill in December.

The Capital City Funeral Directors Association sponsored and decorated a Christmas tree. The funeral directors associations' tree theme for this year was, "children and their pets." One elementary school from every county of the membership was contacted and asked to have the children make up ornaments with that theme.

More than $5,000 was raised from this project to benefit the Caring Place.

Capital City Funeral Directors Association is the local group of funeral directors of the Pennsylvania State Funeral Directors Association, comprised of members from Adams, Cumberland, Franklin, Fulton and Perry Counties.



Tower Bancorp Inc.

HARRISBURG, Pa. — Tower Bancorp Inc. announced the recent expansion of Graystone Wealth Management across the current Graystone Tower Bank holdings.  

Graystone Wealth Management will continue to offer services throughout south central Pennsylvania in the Graystone Bank market, but has expanded to include First National Wealth Management as part of the recent acquisition of First National Bank of Chester County.

 The expansion will also include the renaming of Tower Financial Services to Graystone Wealth Management as the organization establishes a consistent brand.



Fulton Financial Corp.

LANCASTER, Pa. — Fulton Financial Corp. has announced that it  participated as a presenter at Credit Suisse's 12th Annual Financial Services Forum at the Mandarin Oriental in Miami, Fla.

R. Scott Smith Jr., chairman and chief executive officer of Fulton Financial Corp., and Charles J. Nugent, senior executive vice president and chief financial officer, made a presentation to discuss the strategies and performance of the company.



CNB Financial Services Inc.

Thomas F. Rokisky, president and chief executive officer of CNB Financial Services Inc., the parent company of CNB Bank Inc., has announced that CNB had consolidated net income of $1.6 million, or $3.60 per share, for the year ending Dec. 31, 2010, as compared to $2.1 million, or $4.82 per share for the year ended Dec. 31, 2009.

Capital is a key measure of a bank's financial health. CNB's capital totaled $26.5 million or 9.8 percent of total assets as of Dec. 31, 2010.

CNB, with total assets at Dec. 31, 2010 of $277 million, has two full service offices and ATMs in Berkeley Springs, W.Va. The bank has three full-service branch offices and ATMs in Berkeley County, W.Va.



Orrstown Financial  Services Inc.

SHIPPENSBURG, Pa. — Orrstown Financial Services Inc. has  announced that net income increased 45.2 percent to $4,375,000 for the quarter ending Dec. 31, 2010, from $3,014,000 for the fourth quarter of 2009.

Diluted earnings per share amounted to $0.55 for the quarter, as compared to $0.46 for the corresponding prior year period.

The company also announced that its board of directors declared a first quarter cash dividend of $0.23 per share, an increase of 4.6 percent more than the first quarter of 2010, for shareholders of record Feb. 11, 2011.

The dividend will be paid on Feb. 23.



JLG Industries Inc.

McCONNELLSBURG, Pa. — JLG Industries Inc., an Oshkosh Corp. company and a manufacturer of aerial work platforms and telescopic material handlers, announced that it is introducing a new model to the JLG line of boom lifts: the 340AJ.

With a lift height of 34 feet, 20 feet of horizontal reach and a 17-foot up and over reach, the 340AJ has all the features of a traditional JLG aerial work platform, with a low gross vehicle weight of 9,700 pounds.

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