Centric Bank is making its first expansion effort outside of the capital region, with plans to open a loan production office in Bucks County.
The Lower Paxton Township-based bank with four branches in Dauphin and Cumberland counties said today it has hired a five-person team to offer services in the region starting April 13, and will open a loan production office within 60 days.
Michele E. Light, formerly the chief lending officer of Milestone Bank in Doylestown, will lead the team and has been named senior vice president and market leader at Centric.
Centric officials said the two regions are complementary and the team in place is a match with Centric’s philosophies.
“We feel it’s a win-win for Bucks County small businesses who are ready to build, hire, and expand, and for Centric’s banking growth,” said Patti Husic, president and CEO of Centric Bank.
Centric has about $320 million in assets. In the coming weeks, it expects to list on the OTC market to publicly trade its stock.