BB&T trims number of branches in consolidation effort

BB&T Corp. closed 43 branches recently as part of a consolidation effort aimed at boosting efficiency, CEO Kelly King said at an investor conference Tuesday. (Balt. Bus. Journal)

Read Full Article

Legg Mason to take $20 million in charges

Legg Mason Inc. expects to report $10 million in severance and other costs for each of the quarters ending Sept. 30 and Dec. 31, according to a Securities and Exchange Commission filing Wednesday. The $20 million in costs are related to Legg’s (NYSE: LM) winding down of its Esemplia Emerging Markets unit in London and Hong Kong and the downsizing of a distribution office in Toronto, spokeswoman Mary Athridge said. (Balt. Bus. Journal)

Read Full Article

U.S. Treasury to sell TARP stake in Severn Savings Bank

The U.S. Treasury Department plans to auction off preferred shares in six banks, including the parent company of Annapolis’ Severn Savings Bank. The move comes as the Treasury concludes its Capital Purchase Program under the Troubled Asset Relief Program or TARP. (Balt. Bus. Journal)

Read Full Article

Cove Point clears LNG export hurdle

Dominion Resources won federal approval Wednesday to export liquefied natural gas to countries that don't have free trade agreeemnts with the United States from its terminal at Cove Point in Calvert County. The Chesapeake Bay terminal, now used occasionally for LNG imports, already had permission from the U.S. Department of Energy to export to nations covered by free-trade agreements. (Balt. Sun)

Read Full Article

Maryland's biotech IPO boomlet

The Interstate 270 corridor looks to be on the verge of two back-to-back biotech initial public offerings. Contemplate that for a moment. Assuming Rockville-based MacroGenics Inc. pulls off its planned $60 million offering, suburban Maryland will have seen as many life sciences companies go public in the latter half of 2013 as it did in the five years prior. (Wash. Bus. Journal)

Read Full Article

Upper Chesapeake Medical Center to open $60M cancer center

Upper Chesapeake Medical Center in Bel Air opens its new $60 million cancer center Oct. 7. The 75,300-square-foot Patricia D. and M. Scot Kaufman Cancer Center brings together existing cancer services at Upper Chesapeake and adds new services. (Balt. Bus. Journal)

Read Full Article

Blue Ocean Realty goes on $26M shopping spree spanning downtown to Baltimore County

Blue Ocean Realty LLC, the real estate firm that acquired the 201 N. Charles St. office tower last week, has also purchased a retail property and an office building in Baltimore County. (Balt. Bus. Journal)

Read Full Article

BOE holds up award to contractor with history of MBE noncompliance

Facing increased pressure to root out contractors who violate the city’s affirmative action goals, Mayor Stephanie Rawlings-Blake and the Board of Estimates today halted a $100,000 award to a company that’s been in and out of compliance for years. (Brew)

Read Full Article