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Susquehanna Bancshares Inc. in Lititz, Pa., is planning to eliminate nearly 350 jobs in Pennsylvania and Maryland, according to notices it filed with labor departments in both states this month.
December 28
Susquehanna Bancshares Inc. in Lititz, Pa., is scouting for a new president to run its Baltimore-area operations following the promotion of its current market president to a larger post within the company, the Baltimore Business Journal reported Friday.
Christopher D. Holt, who had been the president of the Baltimore region since 2007, was recently named executive vice president of commercial real estate lending at the $14.3 billion-asset Susquehanna, a newly created position.
Including construction and land development loans, Susquehanna's commercial real estate portfolio totaled roughly $3.6 billion at Sept. 30, according to Federal Deposit Insurance Corp. data, and it will get even larger when its pending acquisition of Tower Bancorp of Harrisburg, Pa., closes next month.
"Given the growth of our bank and its significant commercial real estate portfolio, establishing this new team to manage this line of business will enhance our customer experience," William J. Reuter, Susquehanna's chief executive, said in a statement to the Baltimore Business Journal.
Holt's replacement as Baltimore-area president would take over an operation that has 24 branches and roughly $1.06 billion of deposits. At June 30, Susquehanna ranked as the seventh-largest bank by deposits in Greater Baltimore, according to the FDIC.
