Banking & Finance
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Penn Community Bank Launches New Business-Focused Magazine
Penn Community Bank, the largest independent mutual bank in eastern Pennsylvania, has launched its new business magazine, Mutual Interest. Building on the bank’s much-anticipated quarterly economic newsletters, the new print and digital piece features timely economic updates, actionable content from thought leaders throughout the bank, and customer spotlights. The first edition includes articles on fraud prevention, attracting…
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‘We Know We Can Count on Their Support’: Ambler Savings Bank Recognized for 150 Years of Service
Last week, Ambler Savings Bank hosted a celebration with more than 120 guests — including customers, community members, and local government officials — in honor of its 150th anniversary. “I’m honored to share this incredible moment with you and present Ambler Savings Bank with a proclamation in recognition of your 150 years of service,” said…
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Is Relationship Banking Right for Your Business?
As a business owner, you likely understand the value of building loyalty and trust. It’s not just beneficial for your business — it can also enhance your customers’ experience and perception of value. Cultivating a deeper connection can benefit you and your customers long-term. The same is true for your relationship with your financial institution.…
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How WSFS Bank Is Making Foreign Exchange a Less Foreign Concept for Its Customers
Touchstone Home Products has roots that originated 38 years ago and has since grown to be an industry leader in electric fireplaces, patio heaters, TV lift cabinets, and other home goods. The company has continually exceeded customer expectations and, as the business evolved, took an interest in electric fireplaces — a product that was only…
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First Bank Recognizes Top Performers Following Year of Record Growth in 2023
First Bank has promoted 38 employees who played key roles in supporting customers and communities while helping the bank thrive and grow amid a record 2023. Some notable promotions within senior leadership include Darleen Gillespie, Chief Retail Banking Officer, promoted to Executive Vice President; Michael Smith, Director of Small Business and Corporate Development, promoted to…
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Firstrust Bank Expands Access for First-Time Homebuyers
Philadelphia’s Hometown Bank is opening doors for first-time homebuyers. The First Front Door program is now available at Firstrust Bank. The First Front Door program, administered by the Federal Home Loan Bank of Pittsburgh, provides down-payment and closing-cost assistance to eligible first-time homebuyers. Borrowers can qualify for up to $15,000 in assistance to make the…
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Penn Community Bank’s Jeane Vidoni To Lead PA Bankers’ Federal Government Relations Efforts
Penn Community Bank, the largest independent mutual bank in eastern Pennsylvania, has shared that President and CEO Jeane M. Vidoni has been named Chair of the PA Bankers Association’s Federal Government Relations Policymakers and Direct Contact Bankers Committee. In her role, Vidoni will lead the statewide industry association’s volunteer team which coordinates and actively participates in grassroots…
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Chase Bank To Open New Branch At Former Wawa Flagship Location in Center City
The former location of Wawa’s flagship location in Center City had been vacant since it chose not to reopen in 2020 due to the lasting effects of the COVID-19 pandemic. However, Chase Bank recently filed to open a branch at the very location on the southeast corner of Broad and Walnut streets, writes Jeff Blumenthal…
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Amidst Continued Growth, Citadel Credit Union Reinforces Commitment to the Communities It Serves
Citadel Credit Union is reinforcing its dedication to supporting the communities it serves across Chester, Bucks, Delaware, Montgomery, Lancaster, and Philadelphia counties through ongoing community initiatives. Corporate Responsibility In July 2023, Citadel formalized its corporate giving and volunteer program, Citadel Cares, with a commitment of more than $2 million in the next four years and…
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Protecting Your Finances: First Bank’s Best Practices Against Check Washing and Theft Scams
The United States Postal Inspection Service recovers over $1 billion in fraudulent checks and money orders yearly. If you mailed a paid check, but the recipient never received it, criminals may have stolen it. Fraudsters are targeting paper checks sent through the mail. Once they have a check you mailed, they use chemicals to “wash”…
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Homebuying in 2024: Are Discount Points Worth the Cost?
When compared to previous years, 2023 mortgage rates skyrocketed, making homebuying difficult or even out of reach for some. In an attempt to alleviate this challenge, many homebuyers turned to discount points, which essentially means they paid extra money upfront to lower their interest rate. Think of it like a VIP pass to a lower…
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Understanding EBITDA as A Key Metric in Obtaining SBA Financing
Within SBA financing, EBITDA is a crucial metric used by SBA Lenders. It’s an acronym for Earnings Before Interest, Taxes, Depreciation, and Amortization and measures a company’s operating performance without factoring in certain non-operational expenses. EBITDA highlights the exclusion of these specific expenses to provide a clearer picture of a business’s operational efficiency. EBITDA provides…
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WSFS Bank Launches Early Pay, Enabling Customers to Receive Eligible Direct Deposits Early
WSFS Bank has launched Early Pay, which allows customers to receive eligible direct deposits from their employers up to two days early. Early Pay is also available for recurring government benefits, such as Social Security payments. “We’re thrilled to be able to offer Early Pay to our customers to help streamline their eligible direct deposits…
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FirstBank Charitable Foundation’s Better Giving for Greater Impact Summit: Uniting for Positive Change
On May 9, the FirstBank Charitable Foundation will present its pioneering event in philanthropy, the Better Giving for Greater Impact Summit. This groundbreaking summit brings together a diverse array of stakeholders committed to making a meaningful difference in the communities it serves. From nonprofit leaders to philanthropists, community funders, and local businesses, this summit aims…
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Patrick Hart Joins Meridian Bank as SVP, Commercial Lending
Meridian Bank has appointed Patrick Hart to the position of Senior Vice President, Commercial Lending. As part of the bank’s Chester County team, he’ll partner with commercial and industrial organizations throughout that community. Hart received his undergraduate degree in accounting from Drexel University, followed by an MBA in finance from Drexel. He has spent his…
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Philadelphia Eagles and Firstrust Bank Award High School Entrepreneurs in Student Business Pitch Competition
Six teams of students from four high schools in the Greater Philadelphia and Southern New Jersey regions recently competed in a business pitch challenge hosted by the Philadelphia Eagles and Firstrust Bank. The competition marked the culmination of the Entrepreneurs Game Plan powered by EVERFI program, a digital learning platform implemented in 30 area high…
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Billionaire Stephen Schwarzman’s Shares His Journey from Abington to Founding Blackstone
Billionaire Stephen Schwarzman, an Abington native, founded private equity firm Blackstone with the late Peter Peterson in 1985, writes Sergei Klebnikov for Forbes. Over the following decades, the firm has grown into the world’s largest alternative asset manager with over $1 trillion in assets. The strategy that helped build the firm has also changed over…
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WSFS Mortgage Study Reveals Positive Attitudes Toward Reverse Mortgages but Also Educational Opportunities
Reverse mortgages are gaining traction as a viable financial strategy for retirees seeking to enhance their cash flow and maintain their lifestyle in their golden years, according to a recent study by WSFS Mortgage, a division of WSFS Bank. The study, which surveyed 750 homeowners aged 60 and older, sheds light on the potential benefits…
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