Banking & Finance
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Malvern Bank Offering a Home Equity Line of Credit Special
Because of the pandemic, the opportunity for consumers to borrow against their home’s equity is not as widespread as it once was. Not knowing what the next week, or even month, will bring, several banks and lenders have put a halt to applications for home equity lines of credit or have changed their qualifications. That’s…
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Bryn Mawr Trust Celebrates Women’s History Month, Hosting Discussion with Women Business Owners
In recognition of Women’s History Month, Bryn Mawr Trust is celebrating three local women business owners who, by example and purpose, have contributed to society overall. BMT invites the public to a virtual panel discussion, moderated by Elizabeth B. Wagner of BMT Wealth Management, on Wednesday, March 24 at 12 PM. Topics that will be…
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Customers Bank Donates $20,000 to Reading Area Community College
Richard Ehst, President and Chief Executive Officer of Customers Bank and Dr. Susan Looney, President of Reading Area Community College participated in presentation ceremony on March 12 acknowledging Customers Bank’s contribution of $20,000 to Reading Area Community College. Customers Bank’s contribution will create scholarships for dual-enrollment high school students that are earning early college credits.…
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Malvern Bank Demonstrates Its Commitment to Education Through the Opportunity Scholarship Tax Credit Program
Malvern Bank, National Association is renowned for charitable giving and supporting a wide array of efforts and initiatives that aim to better the communities it serves. To exemplify the bank’s commitment to education, it is participating in the Opportunity Scholarship Tax Credit Program, which provides tax credits to eligible businesses contributing to an Opportunity Scholarship…
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Meridian Bank Expands Relationship with Real Estate Investment Firm, Finances $20 Million in Projects
Meridian Bank has expanded its relationship with Velocity Venture Partners, a Philadelphia-based investment firm, to finance five industrial real estate projects totaling more than $20 million. The five projects, each funded separately, exceed 330,000 square feet of industrial space in Bucks County (Quakertown, Newtown, Bensalem, and Huntingdon Valley) and Cherry Hill, N.J. Run by founding…
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Bryn Mawr Trust to Merge with WSFS Bank, Solidify Its Preeminent Position in the Region
Bryn Mawr Trust has announced it will merge with WSFS Bank in a transaction valued at approximately $976.4 million. The combination of two of the high-performing, locally based financial services companies solidifies their preeminent position in the Greater Philadelphia region. With nearly $20 billion in assets and an approximately $43 billion Wealth Management business as…
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C&N Announces Strategic Changes to Pursue Continued Growth and ‘Optimize Organization for the Future’
C&N – an independent, community bank with locations in New York and Pennsylvania, including in Paoli, Newtown, and Doylestown – has announced strategic organizational changes that will allow it to pursue continued growth in a fast-changing marketplace. “C&N has been on a multi-year journey to optimize our organization for the future,” said Brad Scovill, C&N’s…
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Find Out Where Bala Cynwyd-based Hamilton Lane’s CEO Puts Probability of Recession This Year
Mario Giannini, CEO of Bala Cynwyd-based Hamilton Lane, puts the probability of a recession occurring this year at zero, write Melissa Karsh and Sonali Basak for Bloomberg. “There is virtually no chance that there is a recession in 2021,” said Giannini. “We’re not going into a downturn, and in fact, we may have an even…
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Colonial School District Paying Extra $8M for New Middle School Due to Lost Wall Street Bet
Colonial School District in Plymouth Meeting has to pay an extra $8 million for its new $80 million middle school due to a bad bet with Wall Street, writes Joseph N. DiStefano for The Philadelphia Inquirer. The school district struck a deal with a bank where it gambled that interest rates on its project would…
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Citadel Credit Union Recognized as ‘Great Place to Work’ for Third Consecutive Year
Citadel Credit Union has been certified as a “Great Place to Work” for the third consecutive year by the analysts at Great Place to Work, which collects and analyzes data from a survey of Citadel’s employees each year. Great Place to Work publishes national lists such as the “Fortune 100 Best Companies to Work for.”…
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The Wall Street Journal: Wyncote’s William Boal Eagleson, Mellon Bank’s Troubleshooter, Dies Aged 95
Wyncote’s William Boal Eagleson, who was brought back by Mellon Bank three years after retiring as chairman to make its mistakes disappear, died on February 5 at 95, writes James R. Hagerty for The Wall Street Journal. Eagleson was born in Philadelphia in 1925, but his family soon moved in with his paternal grandparents who…
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Malvern Bank Partners With Woodlynde School to Create an Innovative, New Campus
A major campus upgrade at the Woodlynde college prep school in Strafford is just the kind of project Malvern Bank likes to put its financial expertise behind. The Woodlynde School is dedicated to empowering K-12 students with learning differences to become strategic thinkers and self-advocates in a challenging and supportive college prep environment. Helping private…
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Personalized Service and Relationships with Customers Are What Sets Huntingdon Valley Bank Apart From Others
When one thinks of banking and mortgages, one might think—this is going to be another chore. Not so with Huntingdon Valley Bank. Stepping inside their doors will actually bring you a sense of relief, of calm, and of joy. In the 150 years that Huntingdon Valley Bank has existed, they have served thousands of customers…
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Four Local Nonprofits Benefit as Malvern Bank Continues to Donate its ATM Fee Revenue
Malvern Bank, National Association continues to donate its quarterly ATM fee revenue to local nonprofits. ATM revenues for the quarter ended Dec. 31 totaled $1,200. The nonprofits receiving donations for the quarter were: Community Youth and Women’s Alliance in Coatesville received $300 from the Paoli branch’s ATM receipts. The Garage in Kennett Square received $300…
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Bryn Mawr Trust Provides $250,000 State Tax Credit Contribution for Revitalization of Delco Waterfront
Bryn Mawr Trust has announced a $250,000 state tax credit exchange donation awarded to The Riverfront Alliance of Delaware County (RADC). It is BMT’s largest individual contribution to a nonprofit and will support the planning and streetscape phases of a larger revitalization project in the Chester waterfront area. The development of the Reaney Street Reconstruction…
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Citadel Credit Union Announces $300 Bonus for New Checking Accounts
Citadel Credit Union, which boasts more than $4 billion in assets and 220,000-plus members as one of Greater Philadelphia’s largest credit unions, is kicking off the new year with a limited-time promotion. From now through March 20, 2021, Citadel is offering $300 bonus when new checking members open a checking account. Eligible new checking members…
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Bala Cynwyd-based Hamilton Lane Aims to Expand Capabilities in Private Wealth Management with Recent Acquisition
Bala Cynwyd-based Hamilton Lane has agreed to acquire 361 Capital to expand its capabilities in private wealth management, writes Jeff Blumenthal for the Philadelphia Business Journal. The financial terms of the deal have not been disclosed. But It is expected that the acquisition will close before the end of the first quarter. The Philadelphia region’s…
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Bryn Mawr Trust Launches Career Conversations Webcast Series for Professional Women
Bryn Mawr Trust is launching Career Conversations, a webcast series that features women in senior leadership roles sharing career insights and their professional journeys. The series is a collaborative effort by BMT and Greater Philadelphia-based nonprofit POWER of Professional Women. “BMT has been a wonderful partner in this venture,” said POWER President Lindsay Johnston. “Strategic…
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