A Week In Business – August 23, 2019

Banking School Graduates

OCEAN CITY – Bank of Ocean City President/CEO Reid Tingle, along with the Board of Directors, has announced Melissa von Bank, branch manager of Fenwick Island, and Amy Catlin, internal auditor, have recently graduated from Maryland Banking School.

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Bank of Ocean City Fenwick Island Branch Manager Melissa von Bank and Internal Auditor Amy Catlin, center, recently became graduates of the Maryland Banking School. They are pictured with bank colleagues and MBS officials. Submitted Photo

The Maryland Banking School graduation ceremonies took place on Friday, Aug. 9 at the University of Maryland College Park Marriott Conference Center.  The three-year curriculum featured courses focused on technology, leadership and management, economics and bank financial management, credit, sales and marketing, in addition to overall bank operations.

Bank of Ocean City is a locally-owned, independent community bank.  Established in 1916 and headquartered in West Ocean City, the bank has six offices — three in Ocean City, one in Ocean Pines, one in Berlin and one in Fenwick Island.


Real Estate Market Update

BERLIN – Continued limited inventory is boosting multiple-offer sales and driving up prices, according to the latest numbers from the Coastal Association of REALTORS® (Coastal).

Throughout July, there were 1,855 active, available residential units on the Shore. In July 2018, there were 2,406 available units, which is a 22.9 percent drop. Individually, active listings are down by 19 percent in Worcester County, by 31.5 percent in Wicomico County, and by 25.5 percent in Somerset County.

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This graphic summarizes July real estate activity. Submitted Image

Conversely, new listings that went on the market in July were up overall by 7.2 percent across the Shore. Individually, new listings were up by 13.6 percent in Wicomico and by seven percent in Worcester. New listings were down by 16.7 percent in Somerset.

The average list price for the Shore was $228,927, which is 3.8 percent lower than this time last year. The average sale price was $221,446, which is 12.4 percent higher than this time last year.

“What we’re seeing here is a boost in sale prices compared to list prices, because people are willing to pay more in this low-inventory market,” said President Bernie Flax. “This is a true seller’s market.”

Settlements are down slightly compared to July of last year, with new settlements being 3.4 percent lower and Year to Date (YTD) settlements being 0.7 percent lower. Individually, new settlements throughout July were up by 16.1 percent in Wicomico, and were down by 11.5 percent and 33.3 percent in Worcester and Somerset, respectively.

The average Cumulative Days on Market (CDOM) for July was 152, or 34.5 percent higher than the same time last year. Individually, CDOM increased by 104 percent in Somerset and by 28 percent in Wicomico, and decreased by 11 percent in Worcester


Company Promotion

BERLIN — Shamrock Realty Group, Inc. has promoted Lauren N. Smith to the position of accounting manager, according to Pam Wadler, vice president and associate broker.

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Lauren N. Smith

Smith will be responsible for all of the day-to-day financial operations of the brokerage. She is also the coordinator of the rental department’s operations, handling property management concerns with landlords and tenants.

Smith joined Shamrock in 2017 as an administrative assistant. She has previous experience working at a large regional bank in the area, and working for a local construction and home improvement company.

“I love working here at Shamrock” she said. “The agents are all wonderful. And I’m really looking forward to being more involved in making Shamrock an even bigger success.”


Nurses Earn Fellowship

SALISBURY — The Nurse Leadership Institute (NLI) at the University of Maryland School of Nursing recently announced the 2019-20 class of NLI fellows. Two nurses from Peninsula Regional Medical Center were selected for the fellowship — Sarah Arnett, executive director, Acute Care Services, and Lesley Weihs, director of Professional Practice & Nursing Quality.

“Investment in our people is a top priority for Peninsula Regional,” said PRMC Chief Nursing Officer Cindy Lunsford. “Development opportunities like the Nursing Leadership Institute focus on individual development that strengthens the overall leadership team and provides strong leadership for the staff they serve.”

Admitted Fellows demonstrate leadership potential through their work and professional activities. During the LDP, Fellows develop and strengthen their leadership skills, style, and competencies. The program includes a robust evaluation process, a residential training program, didactic and simulated learning experiences, collaborative team activities, and interaction with expert faculty and trainers. Fellows also select a mentor who serves as a professional guide throughout the program. In addition, the program offers a free, one-year membership in the Maryland Organization of Nurse Leaders and continuing education units for all LDP activities.