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Tag: bank

PNC closing downtown Strasburg branch

PNC Bank is closing its Strasburg Center Square branch at 1 E. Main St., Strasburg, a bank spokeswoman confirmed.

The bank will shut its doors Nov. 17; the receiving branch – the one that will receive its assets – is at 11 Long Lane, Willow Street. A remote ATM that sits across the street from the branch will stay in place, the spokeswoman added.

News of the closure was first reported in the weekly bulletin of the federal Office of the Comptroller of the Currency.

“PNC recognizes that branches play a key role in how we provide solutions to our clients. alongside our other channels,” the spokeswoman said in a statement. “That’s why we continually study customer and prospect transaction patterns to determine how we can most effectively meet the needs of our communities.

“As a result of this work, we have grown our PNC branch footprint over the past five years–by building out new branches and through acquisitions – while total industry branches have declined. At the same time, we also make decisions to close branches as customer needs evolve. As always, we will continue to invest in – and optimize – our branch network alongside our other core banking channels to serve our customers in the most effective way we can.”

Paula Wolf is a freelance writer

Bank of Bird-in-Hand to undertake another stock offering to fuel more growth

The Bank of Bird-in-Hand plans to undertake a common stock offering – anticipated to be between $15 million and $30 million in the aggregate – starting in September to further support the bank’s continuing growth and to take advantage of market opportunities, announced President and CEO Lori A. Maley.

The offering price per share, expected to be finalized in late August, is projected to be in the range of $25 to $30. Terms should be finalized in late August or early September.

Bank of Bird-in-Hand anticipates raising the capital from shareholders, retail investors and the community. The bank most recently made a common stock offering two years ago.

Maley, who is also vice chairman of the board of directors, said in a release, “Over the past nine years, our bank has consistently achieved above-peer organic growth, including crossing the milestone of $1 billion in assets during 2022, which the board of directors believes warrants us to raise capital to plan for additional future growth. The additional capital will help the bank maintain a strong foundation on which to grow and will allow the bank to continue to serve underserved communities.”

Added Kevin J. McClarigan, Bank of Bird-in-Hand’s chairman of the board, “Additional capital, specifically common stock, will provide the bank with the resources to build on (its) growth and plan for the long-term future of the bank, including additional loan growth and yet currently unidentified branch locations, both fixed and mobile. The entire board … is very pleased and excited by the community’s continued support of the bank, our past capital raises, and our unique business model. We are committed to our customers and the residents of our community to build upon that success.”

Paula Wolf is a freelance writer

JPMorgan Chase opens first Central Pa. branches

JPMorgan Chase has officially expanded its footprint into Central Pennsylvania.

The bank opened full-service branches July 6 at 10 S. Second St., Harrisburg, and 4700 Jonestown Road, Lower Paxton Township.

JPMorgan will cut the ribbon at the downtown Harrisburg branch July 25, which will be proclaimed “Chase Bank Day” in Dauphin County.

A press release announcing the ribbon cutting said the Second Street branch combines “a modern design, layout and state-of-the-art banking technology, reflecting how customers engage with Chase today. Employees welcome customers in casual meeting spaces, emphasizing a more consultative approach with personal banking, credit cards, mortgages, auto financing, investment advice, small business loans and payment processing.”

Self-service transaction areas are available, too, including a digital access bar, indoor ATM, outdoor 24-hour ATM, drive-thru ATM and night depository. The branch also features Chase teller services and free Wi-Fi.

Hours are 9 a.m. to 5 p.m. Monday to Friday.

Philadelphia Business Journal reported last year that the Central Pennsylvania locations would be a loose bridge to JPMorgan’s Philadelphia and Pittsburgh markets, where dozens of branches have opened. Michele Lawrence, divisional director of network expansion, said in a statement at the time:

“We credit our real estate team for continually identifying opportunities in the marketplace, that enable us to have bank branches as well as ATMs. We are excited to have a presence in the state’s capital serving the community through banking needs as well as Financial Health Workshops. We are looking forward to working with community leaders and key stakeholders on building a stronger economy.”

Paula Wolf is a freelance writer

JBT Bancorp elects new chairman of the board

JBT Bancorp Inc., the holding company of Jonestown Bank & Trust Co., announced that Glenn T. Wenger has been elected to serve as the chairman of the board of directors of JBT Bancorp Inc. and Jonestown Bank & Trust Co.

Wenger, a Myerstown resident, replaces Richard Newmaster Jr., who retired after serving on the board for 19 years. Newmaster has been named director emeritus.

“It has been a profound pleasure working with Rich,” Troy A. Peters, JBT President and CEO and a member of the board, said in a release. “We thank him for his service, counsel and leadership.”

President of Wengers in Myerstown, Wenger previously served as vice chairman of JBT Bancorp Inc. and Jonestown Bank & Trust Co., joining the board in 2008. He is also chairman of Ag Industrial Inc. and president of JK&B Inc.

In other board business, Edwin C. Hostetter II was elected vice chairman, and Edward L. Anspach was re-elected to the roles of second vice chairman and secretary of JBT Bancorp Inc. and Jonestown Bank & Trust Co.

A resident of Robesonia, Hostetter has served on the board since 2013. Prior to his retirement, the CPA and management consultant was vice president of finance and chief financial officer at SSM Group Inc.

Anspach is president of Anspach Autos and a resident of Grantville; he has served on the board since 1987.

Also re-elected to the board were Jeffrey Bohn, Lloyd Deaven Jr., Jonathan Hollinger, Brian Miller, Sallie Neuin, Dr. Sina Patel, Troy A. Peters and Eric Trainer.

Paula Wolf is a freelance writer

LinkBancorp to merge with mid-Atlantic peer

Andrew Samuel, startup bank Linkbank’s chairman and CEO – Submitted

Camp Hill-based LinkBancorp Inc., parent company of LinkBank, and Partners Bancorp, a financial services company with operating subsidiaries The Bank of Delmarva and Virginia Partners Bank, has entered into an agreement to merge in an all-stock combination, valued at approximately $167.8 million.

Once the transaction is completed, the combined organization will be a leading mid-Atlantic community banking franchise with nearly $3 billion in assets and an expected $300-plus million market capitalization.

The combined bank holding company will operate under the LinkBancorp Inc. name; each of Partners’ subsidiary banks will merge with and into LinkBank. The combined company will operate under Link’s regional focused business model, and Partners executives will lead the Delmarva/Maryland, Northern Virginia and Fredericksburg regions. The corporate headquarters will be in Camp Hill.

Andrew S. Samuel, CEO and vice chairman of LinkBankcorp, said in a release, “This is a transformational partnership that will enhance what both banks are able to do for our team members, clients, investors and communities, while driving significant value for our shareholders. This merger significantly accelerates each entity’s size, profitability and operating leverage. We look forward to bringing our companies together to better serve all stakeholders and achieve our mission of positively impacting lives.”

Joseph C. Michetti, Jr., Link’s current chairman, will continue to serve as chairman of the combined company board of directors.

The merger is expected to close in the third quarter of this year.

LinkBancorp Inc. was formed in 2018. Its subsidiary, LinkBank, is a Pennsylvania state-chartered bank serving individuals, families, nonprofits and business clients throughout central and southeastern Pennsylvania through 10 client solutions centers. The merged entity will have a combined 30 or so branches in Pennsylvania, New Jersey, Delaware, Maryland and Virginia.

Paula Wolf is a freelance writer

Santander will shutter three central Pa. bank branches

Santander Bank will close three of its central Pennsylvania branches in December, according to the Office of the Comptroller of the Currency.

The comptroller’s weekly bulletin is the record of receipt and actions taken on applications and notices filed by national banks and federal savings associations.

For the week of Dec. 11-17, the bulletin shows that 13 Santander locations in Pennsylvania and New Jersey will shut their doors sometime in 2023. The local branches affected are:

· 355 W. Fifth St., Quarryville, Lancaster County

· 986 Lititz Pike, Kissel Village, Lititz, Lancaster County

· 17 W. High St., Carlisle, Cumberland County

In 2021, 147 more bank branches closed than opened in Pennsylvania, S&P Global Market Intelligence reported, as the growth of digital banking creates a waning demand for bricks-and-mortar spaces.

Paula Wolf is a freelance writer

ACNB opens new community banking office in Upper Adams

Gettysburg-based ACNB Bank celebrated its new, $2 million-plus Upper Adams community banking office with a ribbon-cutting ceremony Oct. 20.

The full-service office, at 3425 Biglerville Road, Biglerville, opened for business Oct. 17, with a grand opening planned for Oct. 22.

It offers plenty of parking, multiple drive-up teller lanes and a drive-up ATM. Commercial, residential mortgage and consumer loans, as well as wealth management services, are available.

In conjunction with the ribbon cutting, ACNB Bank presented a check to the Upper Adams Food Pantry.

Ashley L. Cooley, community banking manager, is responsible for overall management of the office. Melissa A. Pritt, community banking supervisor, is responsible for day-to-day supervision of the community banking staff.

“After years of planning and nine months of construction, ACNB Bank’s staff members were truly excited to officially open the doors and welcome customers and friends to the new Upper Adams office,” James P. Holt, ACNB Corp. and ACNB Bank president and CEO, said in a release.

“This new location was designed with the customer in mind from the layout of the lobby and the drive-up to the deployment of the technology – all with the intent to streamline and enhance the customer experience. We are proud of this modern, full-service office to serve the entire Upper Adams community.

“Throughout its 165-year history, ACNB Bank has engaged in a variety of similar construction projects whenever it saw the opportunity and merit to invest in local communities. This project … represents a continuation of that longstanding commitment to local investment.”

Paula Wolf is a freelance writer

Two homes take top prize in Parade judging

The 2022 Parade of Homes Fulton Bank Award for Best Single Family Home was given to Copenhaver Builders, LLC for their home at 3925 Hill Church Road, Lebanon. PHOTO/PROVIDED

The 2022 Lancaster/Lebanon Parade of Homes, which features 18 single-family and semidetached/townhouse residences, announced its top award winners.

Sponsored by Fulton Bank and UGI Utilities and presented by the Building Association of Lancaster County, the event, showcasing the latest trends in new construction, is open to the public through June 26. Eleven builders have entered homes in the Parade, ranging from $350,000 to $985,000.

The Fulton Bank Award for Best Single-Family Home was given to Copenhaver Builders LLC for its 4,279-square-foot house at 3925 Hill Church Road, North Annville Township. The abode (price unpublished) includes four bedrooms, three full baths, three half baths, a three-car garage, and a first-floor owner’s suite with luxury bath.

Thaddeus Stevens College of Technology captured the Fulton Bank Award for Best Townhome/Semidetached for its three-bedroom house at 1906 Edington Place, Lancaster Township.

Listed at $350,000, it features engineered hardwood floors; an owner’s suite with studio vault and a large walk-in shower with heated floor; a finished basement with custom bar; a stone fireplace with reclaimed barn beam mantel; an open floor plan with reclaimed lumber beams; and a custom kitchen.

Paula Wolf is a freelance writer

Fulton appoints community affinity banking director

Joel Barnett. PHOTO/PROVIDED

Lancaster-based Fulton Bank named Joel Barnett to the new position of senior vice president, director of commercial affinity banking, where he will build relationships with businesses owned by people of color, women and veterans.

Barnett will be headquartered in Philadelphia. He has more than 30 years of experience in banking and was most recently senior vice president and business banking market executive at a Pittsburgh-based bank.

“As a veteran myself, I’m a big believer in working together to build-up our communities,” Barnett said in a release. “I look forward to engaging these potentially underbanked organizations so that together, we can build successful businesses and drive economic empowerment in our communities.”

William “Smokey” Glover, Fulton’s executive vice president, director of fair and responsible banking, added: “At Fulton Bank, our purpose is to change lives for the better and in this position, Joel will help us do just that. This new role is focused on ensuring that we are reaching out to and meeting the needs of affinity businesses in our communities. By assigning enterprise-wide responsibility for building these relationships to one person, we can ensure a concerted effort on this outreach.”

The commercial affinity banking director position is part of the bank’s Fulton Forward initiative, which is focused on building vibrant communities with programs, products and services focused on affordable housing and homeownership; job training and workforce development; financial education and economic empowerment; and diversity, equity and inclusion.

Paula Wolf is a freelance writer.

Heritage Valley Federal Credit Union expands community charter 

York-based Heritage Valley Federal Credit Union (FCU) announced that it will now serve clients in Adams, Cumberland and Dauphin counties. 

The National Credit Union Administration approved the credit union’s community charter expansion in April. 

The expanded charter allows businesses or anyone who works, worships or attends school in Adams, Cumberland, Dauphin and York counties to use the company’s loan products and banking services, according to Heritage Valley. 

“The board and staff of Heritage Valley FCU are excited about the opportunity to serve the residents of Adams, Cumberland, and Dauphin counties; as we have done for York County residents for so many years,” said Mike Gutshall, president and CEO of Heritage Valley FCU. 

Heritage Valley FCU has operated in York County since 1935 and currently operates three branches throughout the county. 

ACNB Corp. announces record earnings in 2021

At the annual meeting of its shareholders May 3, ACNB Corp. reported record earnings for 2021.

Gettysburg-based ACNB is the $2.7 billion financial holding company for wholly-owned subsidiaries ACNB Bank and ACNB Insurance Services Inc.

Net income totaled $27.8 million, or $9.4 million more than in 2020.

“We remain focused on this vision as we enter 2022 and look to a post-pandemic environment for growth,” ACNB Corp. President and CEO James P. Helt said at the meeting. “After responding to the initial impacts of COVID-19 in 2020, we managed (toward) the future in 2021 despite the challenges of the business environment.”

The record earnings were in spite of continued low interest rates and excessive liquidity in the marketplace “that negatively impacted our net interest income and net interest margin for the year,” Helt said. “… The primary drivers to this significant increase in net income were higher fee income from the banking business line activity and a reduction in loan loss provision for the year, as well as one-time merger expenses related to the acquisition of Frederick County Bancorp Inc. in 2020.”

He concluded: “… ACNB Corp. remains well capitalized and positioned to continue our growth trends to the benefit of our customers, employees, shareholders and communities.”

ACNB Bank operates 20 community banking offices in Adams, Cumberland, Franklin and York counties as well as loan offices in Lancaster and York and Hunt Valley, Maryland.

Mid Penn Bank sells Williamsburg Financial Center 

Harrisburg-based Mid Penn Bank, a wholly owned subsidiary of Mid Penn Bancorp Inc., announced that it has entered into an agreement to sell its Williamsburg Financial Center to PennCrest Bank. 

A mutual savings bank headquartered in Altoona, PennCrest has agreed to assume certain deposit liabilities of approximately $25.4 million and purchase certain loans totaling approximately $2.7 million as well as cash, real property, personal property and other fixed assets associated with the center. 

The transaction is expected to close in the fourth quarter of this year, subject to customary closing conditions, including regulatory approvals. 

“Financial center consolidation decisions like these don’t always come down to the dollars and cents, but rather the head and the heart,” Rory Ritrievi, president and CEO of Mid Penn, said in a release. “Since our acquisition of Riverview Financial and subsequent announcement of our intention to close and consolidate the Williamsburg Financial Center acquired in that acquisition, we have engaged with community leaders and the residents of Williamsburg … . 

“… We listened to the community and worked hard to ensure that a local, in-person banking option remained available. When we connected with PennCrest on this potential sale, it was clear from the beginning that they understand this market and the community needs, and we are confident that the Williamsburg customers will be well-served by PennCrest.” 

Mid Penn Bancorp Inc., with assets of more than $4.6 billion, operates retail locations in 16 counties throughout Pennsylvania and has total assets in excess of $4.6 billion.