Souderton-based Univest Bank is continuing its westward expansion by focusing on the Harrisburg metro area, writes Jeff Blumenthal for the Philadelphia Business Journal.
The bank has received state regulatory approval to establish its first retail location in Mechanicsburg, Cumberland County.
Despite being designated as a retail branch by the state Department of Banking and Securities, the site will primarily operate as a lending office.
The company hired two commercial lenders in July last year to serve York, Cumberland, and Dauphin counties. They have been working out of a hotel space while the bank searched for the right site for a brick-and-mortar location.
According to Univest President Mike Keim, the bank will add several more commercial lenders and a few retail and mortgage bankers. The company hopes to have the new location up and running sometime in the first quarter of 2021.
After the location is open, the bank plans to focus on growing it and two more incoming spaces in York and Berks counties instead of continuing to expand.
“We need to get set up and generate business to offset the cost increase,” said Keim.
Read more about Univest Bank at the Philadelphia Business Journal by clicking here.
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