Banking & Finance
-
Marjorie the Berwyn Bovine Champions Local Businesses During Her Appearance at Malvern Bank
Marjorie the Berwyn Bovine, an ambassador for the community’s small businesses, has been spotted along the Lancaster Avenue corridor throughout the summer. She has stopped at a number of businesses, including Malvern Bank, National Association, to remind everyone of the importance of shopping and eating locally. Marjorie was recently seen at the bank’s Berwyn branch,…
-
Souderton’s Univest Bank Continues Regional Expansion, Focuses on Harrisburg Market
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,…
-
Daniel B. Green of Haverford, Former Firstrust Bank Chairman and CEO, Dies Aged 98
Daniel B. Green of Haverford, the former chairman and CEO of family-owned Firstrust Bank, died on August 26 at his second home in California aged 98, writes Bonnie L. Cook for The Philadelphia Inquirer. Green was the second-generation leader at the bank founded by his father, Samuel A. Green, in 1934. During his tenure at…
-
King of Prussia Mall Lord & Taylor Location to Close as Retailer Announces Going Out of Business
Lord & Taylor is officially going out of business and will close all of its remaining stores, including its location as an anchor tenant in King of Prussia Mall, writes Jeff Blumenthal for the Philadelphia Business Journal. The first department store established in the United States filed for Chapter 11 bankruptcy protection several weeks ago.…
-
King of Prussia-based Vertex Set to Go Public This Year
Vertex, a family-owned King of Prussia company that tracks sales taxes for businesses around the world with its software, is planning to go public this year, writes Joseph N. DiStefano for The Philadelphia Inquirer. Goldman Sachs is leading the group of banks that are tasked with selling 21.15 million Vertex common shares on the Nasdaq…
-
Conshohocken’s Firstrust Bank Is New Official Bank Sponsor of Philadelphia Eagles
Conshohocken-based Firstrust Bank is the new official bank sponsor of Philadelphia Eagles, write John George and Jeff Blumenthal for the Philadelphia Business Journal. The bank has signed an eight-year deal with the team which includes new Eagles-themed banking products such as Eagles checking accounts with debit cards featuring the team’s logo, in-stadium signage, and naming…
-
See Which Montco ZIP Codes Received the Most PPP Loans of More Than $150K
Four Montgomery County ZIP Codes are among the highest recipients of federal Paycheck Protection Program loans of over $150,000 in the Philadelphia area, writes Kennedy Rose for the Philadelphia Business Journal. PPP was established to assist businesses to keep their staff on payroll during the COVID-19 pandemic by providing them with loans of up to…
-
‘Exact Change Only’. Local Businesses Struggle With Coin Shortage
Of all of the consequences of COVID-19, a national coin shortage wasn’t one we saw coming, writes Victor Fiorillo for phillymag.com. So why is there a national coin shortage? According to the U.S. Federal Reserve, the COVID‐19 pandemic has disturbed the normal circulation patterns for coins. Cash transactions declined significantly during the COVID-19 shutdown. That…
-
Paoli’s Covenant Bank Completes Merger with Wellsboro-Based Citizens & Northern Bank
Covenant Financial, which is headquartered in Doylestown and has a branch in Paoli, completed its merger with Wellsboro-based Citizens & Northern Corporation on July 1. The two parties previously announced the execution of an agreement and plan of merger on Dec. 18, 2019. Under the agreement, Covenant merged with and into C&N, and Covenant’s bank…
-
Bryn Mawr Trust Sells All of Its PPP Loans to Third-Party Lender
Bryn Mawr Bank Corp. has sold all of its Paycheck Protection Program loans valued at over $300 million to The Loan Source, writes Jeff Blumenthal for the Philadelphia Business Journal. The third-party lender will now service the 1,850 loans that were previously handled by the bank. The bank did not disclose its gain on the…
-
Coronavirus Pandemic Accelerates Bryn Mawr Trust’s Plans to Shift Significant Number of Employees to Remote Work
The coronavirus pandemic has accelerated Bryn Mawr Trust’s plans to shift a significant number of its employees to permanently working remotely, writes Jeff Blumenthal for the Philadelphia Business Journal. According to CEO Frank Leto, 40 percent of the company’s employees will continue to work from home after the offices reopen. During the last several months,…
-
Malvern Bank Helps Decades-Old Art Show Respond to COVID-19
What happens when a nonprofit’s most important annual fundraiser is closed because of the COVID-19 pandemic? That is the situation faced by the nation’s approximately 1.5 million nonprofits. The coronavirus has altered the lives of every American, and many businesses – including nonprofits – are facing dire economic repercussions as a result. “Many nonprofits are…
-
Bala’s Osage Venture Partners Invests $3M After Vetting Software Company Remotely
Bala Cynwyd-Based Osage Venture Partners has made its first investment during the coronavirus pandemic while making sure to still follow social-distancing guidelines, writes Michelle Caffrey for the Philadelphia Business Journal. The firm invested $3 million into Malbek, after vetting the contract management software company remotely. It took Osage hours and hours of Zoom meetings combined…
-
Citadel Rolls Out COVID-19 Loan Relief Program to Support Members in Need
Due to the COVID-19 pandemic, Citadel has introduced a Loan Relief Program to help alleviate financial struggles for members. The program aims to support all Citadel members in need due to COVID-19. Through the program, Citadel has automatically pushed back due dates for members with the following types of loans for at least two payment…
-
Learn How to Conserve Cash During Coronavirus Pandemic
For those who need to conserve cash during the coronavirus pandemic, there are several ways available to cut back on expenses to achieve this, writes Erin Arvedlund for The Philadelphia Inquirer. Due to disruptions caused by the coronavirus crisis, Americans have been given three more months to pay and file their taxes. This means that…
-
Pennsylvania Approves $60M in Aid for Small Businesses Affected By Coronavirus Crisis
Pennsylvania has approved $60 million in aid to assist small businesses that have been affected by the coronavirus crisis, writes Kennedy Rose for the Philadelphia Business Journal. The COVID-19 Working Capital Access Program will provide up to $100,000 in loans to small businesses with 100 or less full-time employees. “My top priority is to save…
-
Consider a Community Bank for Your Mortgage Loan
By Malvern Bank, National Association On March 3, the Board of Governors of the Federal Reserve System cut interest rates by half a percentage point. In addition, on March 15, they cut interest rates by one percentage points. Both of these cuts were pre-emptive moves to protect the economy from the coronavirus. One of the…
-
Demand for Emergency Small Business Loans Overloads State’s Application Site
After Governor Tom Wolf, state economic agencies, and the Small Business Administration announced they will start giving out loans for small-business owners due to coronavirus-caused shutdowns, the application site was flooded with so many visitors that it soon overloaded, writes Erin Arvedlund for The Philadelphia Inquirer. Julie Foster, owner of Tired Hands Brewery in Ardmore,…
Founding Partners
Advertisement
Affiliate Partners
Community Partners
