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John P. Hollerbach, the bank's president and CEO, said Edgerley has been named executive vice president and would start work Feb. 18. Edgerley's last day as DBED chief was Friday.

The appointment marks the return to Montgomery County for Edgerley, who served for 12 years as the county's director of economic development under then-County Executive Douglas M. Duncan.

"He is universally regarded as an outstanding strategic thinker and just a great guy," Hollerbach said of Edgerley. "He wasn't brought in here just to bring his Rolodex … we're very impressed in his ability to bring players to the table and to close deals. This is an ideal strategic move for us right now."

"It's so nice to be home," said Edgerley, a Germantown resident, of returning to Montgomery County. "One of the things that has always fascinated me is the entire world of finance and business, the implementation of business plans … capital formation. So the interplay of business development and financial concerns, banking concerns, has always been in lockstep with my personal interests. I am absolutely thrilled to be joining Jack and the team at HarVest."

In a statement, Hollerbach said, "New opportunities are being presented by the mergers of two more Maryland banks, Chevy Chase and Provident, into large financial institutions based in other states. The addition of Dave Edgerley to our team shows that we intend to deepen our reach within our existing branch footprint, and continue with plans to expand into areas like Silver Spring, Ellicott City and Laurel over the next few years.

"He is widely respected as a hard-working and likeable executive throughout Maryland and in state-related economic development venues worldwide."