Banking & Finance
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Meridian Bank Named Top Mortgage Lender
Meridian Bank has been named one of the Top 10 Mortgage Lenders in the U.S., according to a poll conducted by Secure Insight, a risk management company based in Parsippany, N.J., that serves the mortgage industry. Secure Insight polled more than 70,000 registered settlement professionals across the country, including settlement attorneys, title agents, and escrow…
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Malvern Bank Reaffirms Its Commitment to Communities, Looks to Expand Its Commercial Lending Group
Whereas large banks seem to be tightening their purse strings amidst the pandemic – Wells Fargo laid off 700 employees in its commercial banking unit last fall, while Truist Financial Corporation cut staff and closed branches – Malvern Bank, National Association reaffirmed its commitment to the communities it serves by leading different lending initiatives. The…
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Customers Bank in Top Ten of Best Online Banks of 2021
Customers Bank was recently identified as one of the “Best Online Banks of 2021” by Bankrate, finishing among the top 6th position. Bankrate provides consumer and commercial audiences with unbiased analysis of rate information, industry news, and knowledge to make informed financial decisions then reviewed thousands of data points to determine the best banks in…
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Billionaire Financial Trader Shows Buyer’s Remorse Over Financial Support of Republican Politicians Who Denied Biden Won Presidency
Jeff Yass, a Bala Cynwyd billionaire financial trader and one of the biggest donors to politicians in the country, is feeling betrayed by some of the Republican politicians he supported with massive donations after they later called the presidential election stolen, writes Joseph N. DiStefano for The Philadelphia Inquirer. Over the past six years, Yass…
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Bala Cynwyd-based Hamilton Lane Raises Millions in IPO for Sponsored SPAC
Bala Cynwyd-based Hamilton Lane raised $240 million in an initial public offering for its first blank check company, Hamilton Lane Alliance Holdings I, writes Jeff Blumenthal for the Philadelphia Business Journal. The special purpose acquisition company—or SPAC—offered 24 million units at $10 each. Hamilton Lane originally planned to raise $200 million, but the Philadelphia region’s…
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Ransomware: The Cure Costs More Than Prevention, and Is Less Effective
COVID isn’t the only malicious virus we’re facing in 2021. Cybercriminals have become emboldened with new and more deadly “ransomware” attacks. Customers Bank wants to help its clients take steps to protect against these attacks that can impose significant costs, destroy a reputation, and take down a business. RANSOMWARE DEFINED … A ransomware attack uses malicious code…
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Moody’s Investors Service Confirms Montgomery County’s Aaa Bond Rating for Third Consecutive Time
Montgomery County Commissioners have announced that for the third consecutive time, Moody’s Investors Service has confirmed the county’s coveted Aaa bond rating. Moody’s cited Montgomery County’s large dynamic tax base and continued development despite the pandemic as one of the reasons for reaffirming the high rating. Stable employers that include several pharmaceutical firms also played…
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Customers Bank Wins Prestigious Global Everbridge Critical Event Management Impact Award
Customers Bank recently was selected as the winner of the highly coveted 2020 Best Example of Making an Impact on Business Award presented by Everbridge, an organization focused on life-saving efforts through its global Critical Event Management (CEM) platform. The novel coronavirus outbreak and ensuing pandemic was the largest global emergency of 2020. David Meredith,…
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Newsweek Names Bryn Mawr Trust One of America’s Best Banks
As part of its inaugural ranking of the financial institutions that best serve their customers’ needs in today’s challenging times, Newsweek has named Bryn Mawr Trust one of America’s best banks and the best small bank in Pennsylvania. BMT was selected from an initial group of more than 2,500 FDIC-insured financial institutions and assessed based…
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See Who Received Highest PPP Loans in Montgomery County
Earlier this week, the U.S. Small Business Administration released detailed information on approved borrowers from the federal government’s Paycheck Protection Program, including those in Montgomery County, writes Matthew Kish for the Philadelphia Business Journal. The SBA was ordered by U.S. District Judge James Boasberg to release the “names, addresses, and precise loan amounts of all…
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Meridian Bank’s Culture of Talent Development Makes It a 2020 Best Community Bank to Work For
Independent Banker magazine, the award-winning monthly publication of the Independent Community Bankers of America (ICBA), has named Meridian Bank as one of its 2020 Best Community Banks to Work For. The honor is a testament to the bank’s efforts to create an exceptional work experience for employees. “Community banks have always valued relationships and trust,…
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How Phoenixville-Based Customers Bank Became the Nation’s Fifth-Largest Provider of PPP Loans
Consider it just another day at the office of your friendly community bank. Customers Bank, which provides a range of banking and lending services from its headquarters in Phoenixville, ranked as the fifth-largest provider of Paycheck Protection Program loans in the nation. Yes, the nation. The bank participated in more than 108,000 loans with an…
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American Heritage Credit Union Opens New Branch in Wayne
American Heritage Credit Union opened its new full-service branch in Wayne Nov. 2 to help better serve its members as well as families and businesses throughout the Main Line community. “Our Board of Directors, associates and I are all excited to expand American Heritage’s service to the Main Line community,” said American Heritage’s President and…
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Malvern Bank Sponsors Brandywine Polo Club for Sixth Consecutive Year
Malvern Bank, National Association was the presenting sponsor of the last match of the Brandywine Polo Club’s summer season. The Richie Jones Memorial Exhibition, named for an avid horseman and member of the Polo Club, was held on Oct. 18. Brandywine Polo Club, a United States Polo Association club, brings the passion of polo and…
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Construction Tech Company’s Loan Exemplifies the Streamlined Service Offered by Meridian Bank’s Equipment Finance Subsidiary
A loan recently acquired by a state-of-the-art construction technology company exemplifies the type of quick, streamlined service that Meridian Bank’s new equipment finance subsidiary offers its customers. When Bill Zandi, co-founder of Robotic Imaging Group in Philadelphia, needed a piece of equipment for his company’s LiDAR technology, he was referred to Meridian Equipment Finance LLC…
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Meridian Bank’s ‘High-Performance Culture’ Helps It Earn ‘Sm-All Star’ Status
Meridian Bank has earned a spot on Piper Sandler’s annual list of top-performing U.S. small-cap banks and thrifts, also known as the “Sm-All Stars.” Piper Sandler, a leading middle-market investment bank and institutional securities firm, publishes this list annually in order to “uncover the next crop of stellar mid-cap banks before they are discovered by…
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First Resource Bank Plays Starring Role in Survival Story of Popular Phoenixville Restaurant
For First Resource Bank, it’s all about relationships. And those relationships are undoubtedly playing a starring role in the survival stories of several small businesses. Zach Hoffman – the owner and operator of Bistro on Bridge, the popular restaurant and craft beer, whiskey, wine, and spirit bar in Phoenixville – credits the bank’s guidance for…
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Malvern Federal Charitable Foundation Awards $100,000 in Grants to 16 Nonprofits
Malvern Federal Charitable Foundation – a charitable arm of Malvern Bank, National Association – has announced that it will award grants totaling $100,000 to 16 different nonprofits in the bank’s markets. The organizations receiving grants are: Children’s Scholarship Fund of Philadelphia is a privately funded program with a mission to provide children from under-resourced families…
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