PeoplesBank will be the new on-campus bank for all four of the midstate retirement communities that PNC vacated this fall.
The bank filed for approval earlier this month to open a limited-service branch at Homestead Village, 1800 Village Circle, in East Hempfield Township, according to information filed with the Pennsylvania Department of Banking and Securities.
PNC left Homestead Village and three other Lancaster County retirement communities in October as part of what it described as a routine evaluation of customers’ banking needs.
PNC also closed a branch in Perry County that month, followed by three more branches in Lancaster and York counties in November.
PeoplesBank quickly swooped in to fill the retirement community vacancies, filing for approval in October to open branches at Landis Homes in Manheim Township and Woodcrest Villa in East Hempfield Township. It did the same for Luther Acres, a Lititz retirement community, in November.
Several of these communities have expressed relief about having a new bank onsite after PNC’s departure.
“When PNC left, that was a hardship for our residents,” Homestead Village President Douglas Motter said. “We were very excited to forge a relationship with PeoplesBank.”
The opening date for the Homestead Village branch will depend on regulatory approvals, he said. A PeoplesBank representative was not immediately available for comment.
PeoplesBank serves eight retirement communities in York and Lancaster counties, including the recently opened Landis Homes branch, according to the bank’s website. These facilities have a bank-representative on-site several hours per week to process transactions and answer questions.
The York County-based bank also has regular full-service branches throughout York County and Maryland.
PeoplesBank is not the only institution taking advantage of PNC’s departure. Montgomery County-based Univest Bank & Trust Co. recently signed a lease for a former PNC branch in Strasburg Township, Lancaster County.