Citi donates $200,000 in grants for East Baltimore development The Citi Foundation, the charitable arm of Citigroup, on Thursday presented The Reinvestment Fund and East Baltimore Development Inc. each with $100,000 grants to support development of affordable, energy-efficient homes in East Baltimore.
The grant to TRF supports the Preston Place development of 122 Energy Star-certified, affordable homes for sale in the Oliver neighborhood of East Baltimore.
The grant to EBDI supports the Greenhab Housing Program, which will provide affordably priced housing for low- to moderate-income families and will incorporate green building standards and energy-efficient building materials.
The Citi Foundation has awarded more than $2 million in grants this year to 20 urban communities across the country through its Progress Grant Program.
– Andrew Cannarsa
Advance Bank acquires Susquehanna Bank Security Boulevard branch Baltimore-based Advance Bank has reached an agreement with Susquehanna Bank to purchase its branch at 6669 Security Blvd., Advance said this week. Financial terms of the deal were not disclosed.
Advance will acquire the branch building and approximately $19 million in deposits. The deal is expected to close in the second quarter, pending regulatory approval. Current branch employees will be offered employment at that location by Advance Bank.
“We are very excited about this opportunity to expand our banking operations in the Baltimore market area,” John Hamilton, Advance chief executive officer and president, said in a statement. “As a community bank, we strive to provide outstanding service in the areas that we serve and we are, of course, committed to doing so in Baltimore.”
Advance Bank has $77.8 million in assets and three area branches, not including the Security Boulevard purchase, as well as one in Philadelphia.
– Aaron Cahall
