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

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 / Submitted)

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.

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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