FCNB Corp., a $718 million-asset banking company in Frederick, Md., said it is forming a money management and trust services division.

"Our focus will be on people in their 30s and 40s who have more than $250,000 that needs to be managed," said Mark A. Severson, senior vice president and treasurer. "We see that as a very critical market over the next few years."

He said the division should be up and running in January, provided the Office of the Comptroller of the Currency approves an application to implement the bank's trust powers.

FCNB, which has 21 offices, already markets annuities and mutual funds to retail customers through an arrangement with Independent Financial Marketing Group, a subsidiary of Boston-based Liberty Financial Cos.

In its drive to reach a more affluent clientele, the bank plans to hire a senior trust officer and align itself with an outside asset manager.

Mr. Severson said a market study that he conducted with help from a consultant turned up 21 area financial institutions that have significant trust assets, but only nine that could be considered competitors.

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