Business News Of The Week

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Realtors Hear From
Comptroller’s Office

OCEAN CITY — The guest speaker at The Mark Fritschle Group Condominium Realty, LTD September 2012 sales meeting was Sarah Dufresne from the Comptroller of Maryland’s office.

Defresne’s topic was based on Maryland’s Withholding Requirements for Sales or Transfers of Real Property and Associated Personal Property by Nonresidents.

In 2003, the General Assembly enacted a law that provides for income tax withholding on sales or transfers of real property and associated tangible personal property in Maryland by nonresident individuals and nonresident entities. There were subsequent amendments to the law in 2004 and 2007.

In a sale or transfer of real property and associated tangible personal property in Maryland owned by a nonresident individual or a nonresident entity, the deed or other instrument of transfer may not be recorded with the Clerk of Court or filed with the Department of Assessments and Taxation unless payment is made to the Clerk of Court in an amount equal to 7% of the total payment to a nonresident individual or 8.25% of the total payment to a nonresident entity.

Ed Wehnert of The Mark Fritschle Group of Condominium Realty was instrumental in coordinating the guest speaker and looks forward to having the Comptroller’s Office address the sales agents again in the near future.

During the sales meeting, it was announced the Condominium Realty had outsold all of the other individual competing Worcester County and Ocean City real estate offices by 34% year-to-date. It was also announced that Sheri Smith, Kevin Decker, Tina Dorsey, Jon Barker, Katherine Wright-Payne, Kim Lucido-McCabe, Ben Dawson and Nick Bobenko had excelled in sales and listings activities and were congratulated for their work by Mark Fritschle.

Bank Appointment

SALISBURY — Edward M. Thomas, President and Chief Executive Officer of The Bank of Delmarva, has announced that John W. Breda has joined the management team of the bank. Breda, who has been in the banking industry for more than 25 years, has been named Executive Vice President and Chief Credit Officer.

“We are very pleased to welcome John to our team. He is a seasoned banking leader with over 17 years of experience in markets on the Eastern Shore of Maryland and Lower Delaware,” Thomas said. “He is well known and highly regarded and understands the needs of families and businesses in our communities. We are fortunate that he is joining our bank.”

A Delmar resident, Breda is active in the community and is a member of Greater Salisbury Chamber of Commerce, Ocean City Development Corporation and Ocean City Chamber of Commerce. He is a past treasurer of Wicomico Rotary Club and currently serves as a board member and treasurer of Cornerstone Community Church in Delmar.

New Officer Joins Bank

OCEAN VIEW, Del. — Raymond M. Thompson, President and CEO of Calvin B. Taylor Banking Company in Berlin, has announced that Cory Walsh has joined Taylor Bank as the bank’s Loan and Business Development Officer for the southeastern Delaware region.

Walsh will support business development in Ocean View and surrounding areas. He comes to Taylor Bank with a background in residential mortgage lending and business-to-business sales and will be based at the bank’s Ocean View office.

Walsh is a native of Salisbury and has lived in the resort area since 1995.

Program Earns Grant

SALISBURY — Salisbury University’s Nursing Department has been awarded $1,079,644 from the Maryland Higher Education Commission to expedite and expand doctoral education for nurses across the state.

SU launched its new Doctor of Nursing Practice program this fall. The three-year Nurse Support II grant will enhance this effort by assisting faculty in making courses more accessible to professionals statewide.

According to the review commission, SU’s project was “highly recommended” and fully-funded. In addition, it was the largest grant given from some $4.4 million in funds to 18 colleges and universities statewide.

During phase one, faculty will transform all courses in the D.N.P. curriculum into a distance-accessible format by combining online coursework, individual activities and synchronous meetings and webinars. This approach will keep students in close contact with professors and each other, but with limited face-to-face meetings at SU. Faculty hope this will make the program more attractive to nurse educators, executives and practitioners who work across the State and help expedite the completion of their degrees.

“This MHEC award will allow the Department of Nursing to increase access to graduate education for health care professionals and to build on its outstanding reputation in graduate and distance-education,” said Karen Olmstead, dean of SU’s Richard A. Henson School of Science and Technology.

Currently, 10 students are enrolled in the first M.S. to D.N.P. cohort. Their first two courses include only three on-campus meetings.  

Phase two will allow SU to develop a B.S. to D.N.P. program to start as early as fall 2014 with curriculum in the same distance accessible format.

“This is an exciting opportunity for the University to help address nursing shortages in Maryland and across the nation,” said Dr. Lisa Seldomridge, Nursing Department chair.

Officer Completes Program

SALISBURY — Vickie Davis, Compliance Officer of The Farmers Bank of Willards in Salisbury, has successfully completed the Certified Community Bank Compliance Officer Program, sponsored by the Independent Community Bankers of America (ICBA).

To earn this certification, Davis successfully completed four ICBA seminars — Developing a Compliance Program, Deposit Compliance, Lending Compliance and Operations Compliance — and passed a comprehensive examination in each of these compliance areas.

Davis started with the Farmers Bank in 2004 as a teller and was the head teller at the main office in Willards when she was promoted to compliance officer in June of 2012.

Firm Announces New Hires

SALISBURY — Avery Hall Benefit Solutions in Salisbury has announced the hiring of Lisa Roedel of Berlin as a new account manager.  

Roedel, who has 16 years of health benefits experience in sales and service, previously worked as an employee benefits consultant and as an account manager. She is responsible for assisting clients with service needs, including billing issues and claims inquiries, as well as organizing account renewals.

Lori Nay of Salisbury, previously an account manager with Avery Hall Benefit Solutions in Salisbury, has a new position with the company as office manager and sales coordinator. In addition to managing the office, Nay will prepare proposals, handle all licenses and assist with advertising. Nay, who has been with Avery Hall Benefit Solutions since 2007, is licensed in life and health insurance and certified in the Consumer Directed Health Care Market.

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