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First Citizens Community Bank donates $1M to Community First Fund

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Pictured left to right: Jim Rovito, CRA and fair lending officer of First Citizens Community Bank; Lydia Walker, director of development of Community First Funds; Daniel Betancourt, president and CEO of Community First Funds and Jeffery Rae, business development officer of First Citizens.
Pictured left to right: Jim Rovito, CRA and fair lending officer of First Citizens Community Bank; Lydia Walker, director of development of Community First Funds; Daniel Betancourt, president and CEO of Community First Funds and Jeffery Rae, business development officer of First Citizens. - (Photo / )

First Citizens Community Bank recently gave $1 million to Community First Fund to fund lending opportunities for minority and low-income residents and businesses in Lancaster and Lebanon counties who would not qualify for traditional financing.

"We want to help make homeownership a reality for those who are struggling to get started and helping give small businesses a leg up has always been part of our culture and our commitment," Jim Rovito, CRA and fair lending officer for First Citizens, said in a statement.

Community First Fund, a Lancaster-based economic development organization, is one of two local organizations operating through the New Markets Tax Credit program, a federal initiative designed to stimulate investment and economic growth in low-income urban neighborhoods and rural communities.

Community First Fund covers Central and eastern Pennsylvania. Since 1992, the organization has made more than 1,600 loans and investments totaling more than $207 million.

Citizens Financial Services Inc., the parent company of First Citizens, has assets of roughly $1.4 billion.

The bank had net income of $4.7 million in the second quarter of 2018, up from $3.5 million in the second quarter of 2017, according filings with the U.S. Securities and Exchange Commission.

Headquartered in Tioga County, First Citizens operates 28 offices in Pennsylvania and New York.

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Shelby White

Shelby White covers banking and finance, law and Lancaster County for the Central Penn Business Journal. For tips, email her at swhite@cpbj.com.

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Ayk Balouch September 12, 2018 6:54 am

Great Humanity.Loved It To Read This Article.Thanks...

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