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Washington Business Journal
This bank hires only by referrals. It's hiring in Greater Washington.
Nashville-based Pinnacle Financial Partners Inc. (NASDAQ: PNPF) has grown its headcount in Greater Washington by roughly 25% over the past few months, relying on its method of hiring only experienced bankers in markets where it’s seeking to expand.<\p> Pinnacle entered the D.C. market two and a half years ago and has continued to swipe local talent from both larger institutions like Truist and smaller, regional competitors. Now, it’s continuing to do that while also growing its physical footprint and increasing deposits and loans during an especially competitive time for banking relationships.<\p>
Dulles renews pitch to become nation's next cargo hub
Dulles International Airport Manager Richard Golinowski believes the airport is ready to renew its decade-long effort of becoming the nation's next prominent cargo hub, capable of rivaling such global freight gateways as JFK International in New York and O'Hare International in Chicago.<\p> But in the meticulously planned world of logistics, trying to accomplish this requires Golinowski's team to convince global air freight operators not just that the region can support inbound demand, but that it also can pull in enough cargo to fill outbound aircraft. And businesses need assurance that cargo planes will fly to justify shifting from existing shipping lanes, a high order given the expense and time that goes into identifying these routes in the first place.<\p>
Middleburg couple buys Georgetown storefront to expand pet supply shop
The owners of a Middleburg pet supply store have acquired a Georgetown commercial property formerly home to a clothing boutique, which they plan to convert into their second location.<\p> Tilley’s Pet Supplies, owned by Drew and Mary Robitaille, is expected to open at 3216 O St. NW in September. The Robitailles acquired the property, most recently occupied by Tuckernuck, for $2.35 million in cash. <\p>
TD Bank seeks to relocate Old Town branch to former SunTrust building
TD Bank has indicated it plans to move one of its Alexandria branches from one prominent Old Town location to another.<\p> The Cherry Hill, New Jersey, company wants to move the branch to 515 King St. — the former home of a SunTrust branch — from nearby 119 S. Washington St., according to an application filed with the Office of the Comptroller of the Currency last month. <\p>
Tina Leone parts ways with the Ballston BID
Ballston Business Improvement District CEO Tina Leone is parting ways with the organization she led since it was created 12 years. <\p> The BID announced the change Monday morning, saying it had named Cassandra Hanley interim CEO. The move is effective July 1. <\p>
Missing middle measure moves forward in Montgomery County
The Montgomery County Planning Board officially endorsed the missing middle Thursday, recommending approval of a zoning framework to allow duplexes, triplexes and other types of housing in traditionally single-family neighborhoods. <\p> The measure, approved 5-0, now moves to the Montgomery County Council for consideration. The council’s Planning, Housing and Parks Committee is schedule to take it up June 24, with work sessions slated for the summer.<\p>
Homeowners continue to build equity, impacting future buying decisions
American homeowners continue to build significant equity even as the housing market has slowed and home prices aren't rising as rapidly as they did in recent years.<\p> U.S. homeowners with a mortgage pulled in $28,000 in equity gains on average year over year in the first quarter, the highest amount since late 2022, according to CoreLogic Inc. That average year-over-year increase of 9.6% translates to a collective gain of $1.5 trillion and means net homeowner equity totaled more than $17 trillion at the end of Q1.<\p>
Tegna CEO stepping down this summer. Here's his successor.
Tysons media company Tegna Inc. said Monday morning that David Lougee will retire from his role as president and CEO after seven years and become a senior adviser.<\p> The company (NYSE: TGNA) has tapped longtime industry executive Michael Steib to replace him, effective Aug. 12. <\p>
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