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In the NewsBank options swell on 1.5-mile stretch of Harford Road As big money is settling in to Havre de Grace, so are the banks. The April 23 opening of BB&T's newest Harford County location means there are now four branches along a 1.5-mile stretch of Pulaski Highway -- which also happens to include an entrance to the Residences at Bulle Rock. So how much do investors moving into swanky homes in that resort community have to do with the proliferation of banking options? "Everything," said Heather Fox, owner of Twice as Nice Family Consignments. Her business is across the street from M&T Bank's Bulle Rock branch, which celebrated a grand opening in November -- not long after APGFCU opened the doors to its new nearby location. The three new branches now join Cecil Bank, the veteran on the block and the only one that hasn't hung a "now open" sign in recent months. Fox said representatives from two of the new branches have been in her shop to woo her with business cards and doughnuts. She has no plans to switch banks, but said her new neighbors will likely be good for her business. Bank officials said that they didn't move onto Pulaski Highway, also known as Route 40, with the primary intent to court anyone living at any nearby development -- including Bulle Rock. As of late April, 572 units had been sold and 438 families had moved in to Bulle Rock, according to officials there. The branches may indeed owe their existence more to the expected impact -- thousands of potential new jobs -- linked to the Pentagon's 2005 round of Base Realignment and Closure moves. "Even before Bulle Rock, everyone had a vision of what BRAC was going to look like. And so obviously we're going to line up and get in there," said John Cain, a senior vice president at BB&T. That bank is financing one of several shopping centers being developed on a road that is changing appearance daily. "Our client said, 'Hey, would you guys be interested in putting a branch here?'" Cain said. "We ran the model and it was very strong." Maryland as a whole is a competitive marketplace for bankers, said Kathleen Murphy, president and CEO of the Maryland Bankers Association. A Pulaski proliferation was perhaps inevitable. "It's certainly not surprising that other banks and other retailers are locating in the area, given the strong growth that's occurring," said Noel Carroll, M&T's senior vice president and regional sales manager for the Greater Baltimore Region. Carroll said in a written response to questions that M&T -- which is sponsoring the McDonald's LPGA Championship at Bulle Rock in June -- is seeing a "fairly even" mix of customers from Bulle Rock and those who live elsewhere. APGFCU previously had a presence for years inside a nearby center, but knew it needed a brick-and-mortar version complete with drive-up service. The location simply made sense based on market penetration of an already existing customer base, said Stuart Clode, senior vice president of marketing for the credit union. Basically, the Bulle Rock crowd is as welcome as anyone to walk through the doors, Clode said. "We know we can't be all things to all people. We know that for some of the investment needs that the Bulle Rock residents will have, we may be a suitable option," he said. "But we aren't going to be going out there targeting unrealistic investments and loans." Since adopting a community charter in 2003, APGFCU has been open to anyone who lives or works in Harford and Cecil counties. The credit union plans to open a branch within the Forest Hill area of Harford County within a year, Clode said. As for prospects on Pulaski Highway? "There is a very large pie out there and each of the financial institutions ... have their own little niche," Clode said. "There are some gray areas where there will be competition. But that's what it's all about." Rebecca Logan is a Harford County-based contributor.
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