The expansion, the growth and especially the new administrative building York Traditions Bank moved into in August is all part of the vision the company had when it started 11 years ago.
“We’re actually a little ahead of the schedule we had,” said Michael Kochenour, chairman, president, CEO and a founder of York Traditions Bank. “We’ve had tremendous growth.”
The four-branch bank that started in 2002 officially opened its new administrative center with a ribbon-cutting Tuesday, the end of a one-year, $2.6 million renovation project of the abandoned RoomStore building on Pauline Drive in York Township. Bank employees have been working in the new building since Aug. 19, according to Suzanne Becker, the bank’s marketing manager.
The building is less than a mile from the bank’s first branch and former headquarters at 235 St. Charles Way.
Kochenour said the former office had become too small.
The company started with 13 employees and $9 million in capital when it opened in 2002. Now it manages almost $300 million in assets and has about 80 employees, with 45 to 50 moving into the new building.
It is using about 18,000 square feet of the new building, with another 10,000 available for expansion, Becker said.
Kochenour said the structure of the building allows for the company’s growth over the next five years and the available space allows for projected growth over the next 10 years.
Some of the expansion the bank is looking at is outside of its new building. The original vision for the bank included between six and eight “strategically located” branches, and Kochenour said the bank already has been scouting sites for that branch expansion within the next three years.
Kochenour also said the bank is looking into some kind of downtown York presence.
“The young professionals have been asking for it, and we’ve heard them,” he said.
Any new location will be in York County, as Kochenour stressed the bank’s commitment to remaining a community bank. While some smaller banks get gobbled up by larger banks, he said, the intention for York Traditions is to stay a local bank.
Kochenour said the company so far has had no offers of acquisition from larger banks.
“We’re a true, local community bank,” he said. “Why not? Who else is going to support the quality of life in the community? We see it as an opportunity to make a broad difference.”