Menu Close

Wealth management firm purchases historic Stevensville bank

view original post

STEVENSVILLE — The Kent Island Heritage Society and Bay Point Wealth, a wealth management firm led by managing member Bill Hufnell, have jointly announced Hufnell’s purchase of the property and building of the former Stevensville Savings Bank of Queen Anne’s County, which was formed in 1903.

The bank opened in 1909 and was the only bank on Kent Island at the time. It closed in 1959.

In 1983, the building was registered with the National Registry of Historic Sites in Maryland. Since then it has been under the care of the Kent Island Heritage Society, and open once a month between April and November each year prior to the pandemic.

The bank previously had been owned by the Martsellar family of Love Point, which had an arrangement with the Kent Island Heritage Society to care for and display the bank as an historic site in downtown Stevensville.

Bay Point Wealth is a full-service fiduciary firm providing guidance to individuals and business owners regarding their financial planning, taxes and investments. It has Eastern Shore clients.

With offices also in North Carolina and Florida, Hufnell is expanding his office here. He comes recommended by the Queen Anne’s County Chamber of Commerce, where he has conducted a number of online seminars and discussions.

The firm will maintain and operate a modern financial planning office in the rear of the bank in the old board room, while the Heritage Society will continue to operate and show the front part of the bank as a preserved historic site.

Hufnell and his wife Chris reside on the western shore side of the Bay Bridge near Sandy Point State Park.

“We spend most of our personal time on Kent Island. We happened to be crossing the street to get dinner at Amalfi Coast when we saw the for sale sign in the window of the bank,” he said. “Locating our office at a former bank was an ‘after-thought.’ I’m not that creative of a thinker, that symbolically, our new office is inside a former historic bank — though it makes a lot of sense!”

He added, “It’s a beautiful building and it is a very important part of the history of Stevensville.”

Kent Island Heritage Society President Jack Broderick said, “We are impressed with Bill Hufnell’s commitment to preserve the historic integrity of the old Stevensville Bank and to work in partnership with us to keep this important part of our Kent Island Heritage alive for future generations to appreciate.”