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1st commonwealth bank pa

Rose Strittmatter, First Commonwealth Bank corporate and board services Complex on the Indiana University of Pennsylvania campus. The company announced Monday that it is selling 14 branches in Pennsylvania to First Commonwealth Bank. According to the companies, the branches. First Commonwealth Bank is local lender based out of Indiana, PA that provides SBA loans to small businesses in the following states: Ohio, Pennsylvania.

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Santander Bank is undertaking a strategy to focus on markets that it believes will drive growth in the future, and part of that strategy apparently includes selling off some of its bank branches.

The company announced Monday that it is selling 14 branches in Pennsylvania to First Commonwealth Bank.

According to the companies, the branches are located in State College, Lock Haven, Williamsport, South Williamsport, Lewisburg, Danville, Montoursville, Beech Creek, Jersey Shore, Milton, Muncy, and Renovo.

The branches have approximately $525 million in deposits and $120 million in retail and business loans, as of March 31, 2019.

For Santander, the deal allows the company to shift its focus to other markets.

“Santander is proud to have served these communities in central Pennsylvania for more than a decade,” said Michael Cleary, co-president of Santander Bank, and head of consumer and business banking.

“We are pleased to reach this agreement with First Commonwealth – a mission-driven community bank that shares our values of providing excellent service to our customers and a great work environment for our team members,” Cleary added. “We look forward to working with them to provide a seamless transition and service experience for our customers, employees and the community.”

As for First Commonwealth, the company said that the acquisitions allow the bank to expand its Pennsylvania footprint by adding approximately 22,000 retail and small business households.

“The contiguous expansion of our footprint into these new towns, which have complementary demographics and culture to our core Western Pennsylvania markets, makes perfect sense for us,” First Commonwealth CEO T. Michael Price said.

“These branches have a long history as community bank branches. We look forward to improving the financial lives of our new neighbors and businesses in these communities,” Price continued.   

“The deposits that we are acquiring with these branches provide low-cost, stable funding that will immediately improve our profitability and, more importantly, allow us to continue the steady pace of our loan growth in the face of a competitive deposit market,” Price concluded. “This transaction is similar in size and scope to the four low-risk transactions that we have completed in recent years, each of which has exceeded our expectations.”

The companies expect the deal to close in the third quarter of this year.

Источник: https://www.housingwire.com/articles/48854-santander-bank-selling-14-pennsylvania-branches-to-first-commonwealth-bank/
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Источник: https://www.firsthorizon.com/
Not Guaranteed By The Bank Or Its Affiliates "Jerome Bridge Overhau…"

Источник: http://almanac.tubecityonline.com/almanac/?e=1980

Santander Bank is undertaking a strategy to focus on markets that it believes will drive growth in the future, and part of that strategy apparently includes selling off some of its bank branches.

The company announced Monday that it is selling 14 branches in Pennsylvania to First Commonwealth Bank.

According to the companies, the branches are located in State College, Lock Haven, Williamsport, South Williamsport, Lewisburg, Danville, Montoursville, Beech Creek, Jersey Shore, Milton, Muncy, and Renovo.

The branches have approximately $525 1st commonwealth bank pa deposits and $120 million in retail and business loans, as of March 31, 2019.

For Santander, the deal allows the company to shift its focus to other markets.

“Santander is proud to have served these communities in central Pennsylvania for more than a decade,” said Michael Cleary, co-president of Santander Bank, and head of consumer and business banking.

“We are pleased to reach this agreement with First Commonwealth – a mission-driven community bank that shares our values of providing excellent service to our customers and a great work environment for our team members,” Cleary added. “We look forward to working with them to provide a seamless transition and service experience for our customers, employees and the community.”

As for First Commonwealth, the company said that the acquisitions allow the bank to expand its Pennsylvania footprint by adding approximately 22,000 retail and small business households.

“The contiguous expansion of our footprint into these new towns, which have complementary demographics and culture to our core Western Pennsylvania markets, makes perfect sense for us,” First Commonwealth CEO T. Michael Price said.

“These branches have a long history as community bank branches. We look forward to improving the financial lives of our new neighbors and businesses in these communities,” Price continued.   

“The deposits that we are acquiring with these branches provide low-cost, stable funding that will immediately improve our profitability and, more importantly, allow us to continue the steady pace of our loan growth in the face of a competitive deposit market,” Price concluded. “This transaction is similar in size and scope to the four low-risk transactions that we have completed in recent years, each of which has exceeded our expectations.”

The companies expect the deal to close in the third quarter of this year.

Источник: https://www.housingwire.com/articles/48854-santander-bank-selling-14-pennsylvania-branches-to-first-commonwealth-bank/
"Jerome Bridge Overhau…"

Источник: http://almanac.tubecityonline.com/almanac/?e=1980

First Commonwealth Closing City Office

11-18-2021 to 12-18-2021

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Spokesman: Trend away from in-person banking is accelerating

By Jason Togyer
The Tube City Almanac
August 07, 2020
1st commonwealth bank pa gpa requirements for south carolina state university 1st commonwealth bank pa Posted in: McKeesport and Region News

(Editor’s Note: The writer has a conflict of interest. See editor’s note at the end of this story.)


The long-rumored closing of the Downtown branch of First Commonwealth Bank is apparently official.

The location at 225 Fifth Ave. is one of 29 offices that the Indiana County-based bank intends to close, Jonathan Longwill, vice president and communications specialist at First Commonwealth, told Tube City Almanac on Friday.

Official notification will be sent to government regulators in early to mid-September, and the McKeesport branch is expected to close for business on Dec. 31, he said.

The closure will leave only two banks with branches in Downtown McKeesport. PNC has an office at the corner home remedies for dog sinus infection Lysle Boulevard and Huey Street, and Dollar Bank has an office in the former Midtown Plaza shops.

Huntington Bank closed its office at 1415 Fifth Ave., near UPMC McKeesport hospital, in 2019.

The closure is part of a long-term trend by customers away from in-person visits to bank branches, Longwill said. At First Commonwealth, transactions with tellers have declined 15 to 20 percent every year over the past four to five years, he said.

“We’ve watched transactions move progressively away from the branch and toward online and mobile,” Longwill said. “While much of that was accelerated by the circumstances surrounding COVID-19, these are trends we’ve been watching evolve for years.”

Other First Commonwealth offices slated to close are in Pittsburgh’s Lawrenceville, South Side and Squirrel Hill neighborhoods.

In all, Longwill said, 11 locations scheduled to close are in the Pittsburgh area, 10 are elsewhere in Pennsylvania, and eight are in the Ohio, including two locations inside of personal care homes.

Over the past few years, he said, use of First Commonwealth’s website, digital banking and “bank-by-phone” options has almost tripled, and the bank’s call center has seen similar increases.

“We also are making significant investments in the future of our digital technology with an upgrade to a new business and consumer online and mobile banking experience this year,” Longwill said.

Many banks closed their 1st commonwealth bank pa to the public in the wake of the COVID-19 pandemic and asked customers to use mail or online banking services instead. Some banks have since reopened their lobbies by appointment only, or to a limited number of customers at a time.

But in July, the Philadelphia Inquirer reported that many bank branches in Pennsylvania had seen such a drop off in customers that they were planning to close permanently.

According to a May report on the Quartz website, almost 12 percent of all bank branches in the United States 1st commonwealth bank pa closed since 2010. Bank branches in low-income urban neighborhoods, the website reported, are among the most likely to close.

During an earnings call with First Commonwealth shareholders and analysts on July 28, T. Michael Price, president and chief executive officer, reported that the bank intended to close 20 percent of its retail locations by Dec. 31 “in response to the current operating environment and evolving customer preferences.”

The bank’s goals through the closures, which it is calling “Project THRIVE,” include growing its overall business, increasing its profitability and reducing its expenses.

The McKeesport branch was one of 12 offices acquired by First Commonwealth during its 2004 takeover of the parent company of Great American Federal.

According to court records, GAF, formerly a savings-and-loan, had operated a location in McKeesport since 1955, when it was known as First Federal of Homestead.

Although retail consumers may not be using in-person bank branches as often, Longwill said branch banking remains “integral” to “small businesses . as a place to solve problems and discuss more intricate banking needs.”

With the closure of the McKeesport office, other nearby First Commonwealth locations to the city include branches in White Oak, Elizabeth 1st commonwealth bank pa, Munhall, Homestead and West Mifflin.


Conflict of interest note: The editor of Tube City Almanac, Jason Togyer, has a conflict of interest. He been a customer of the McKeesport branch of Great American Federal and First Commonwealth since 1992.

Originally published August 07, 2020.

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Time To Be First.
Putting our customers and neighbors first. It might sound like an unconventional idea these days, but at First Commonwealth Bank, making time to put the people and the communities we serve above all else is the way we've been doing business as 1st commonwealth bank pa community bank since 1982. Day in and day out, we work hard to activate our mission of helping our neighbors and the businesses within our communities realize their financial goals as a trusted partner and friend.

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Источник: https://www.pghnorthchamber.com/

FIRST COMMONWEALTH NAMED ONE OF THE BEST BANKS IN PA BY FORBES

First Commonwealth Bank has received another honor from Forbes Magazine for excellence in the banking industry.

For the second year running, First Commonwealth was recognized by Forbes Magazine as one of America’s Best Banks, and it was also recognized as one of the “best-in-state” banks, coming in 4th on the list for Pennsylvania.  Earlier this year, Forbes put First Commonwealth on it’s World’s Best Banks list for the third year in a row.

Forbes and Statista identified and ranked the banks based on an independent survey of 25,000 U.S. customers who were asked to rate the banks that they currently had a checking account with or had done business with in the past.  Categories they were ranked in scott trade com overall satisfaction, trust, terms and conditions, branch services, digital services, customer service and financial advice.

In a statement, First Commonwealth CEO Mike Price said that they continue to be humbled by the recognitions provided by Forbes.

Источник: https://www.wccsradio.com/2021/06/24/first-commonwealth-named-one-of-the-best-banks-in-pa-by-forbes/
1st commonwealth bank pa

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