A group of mortgage industry veterans are aiming to start a bank based in Hanover. None of the bank’s organizers live in the southern York
Wayne Bank, the chief banking subsidiary of Honesdale-based Norwood Financial Corp., is seeking regulatory permission to convert a loan production office in Hampden Township, Cumberland County, into a full-service branch. The upgrade will allow the office to provide a wider range of financial services, including accepting deposits and handling withdrawals. “We’ve demonstrated through a couple […]
Mid Penn Bank has closed four branches in the Lehigh Valley and southeastern Pennsylvania. As of Sept. 30, the Millersburg-based bank shuttered branches in Allentown, Philadelphia, Richboro and Yardley, a bank spokesperson confirmed. Customers were directed to branches near each of the closing offices, the spokesperson said. The branches were at 3900 Hamilton Blvd. in […]
Over the last few years, influencers on social media have been pitching loans from the U.S. Small Business Administration as an easy path for taking over boring but profitable businesses from owners looking to retire. It was probably never that easy. But it is going to get harder – or at least slower – thanks […]
For years, banks in Central Pennsylvania have been pushing into the Philadelphia market, led by lenders such as Lancaster-based Fulton Bank and Harrisburg-based Mid Penn Bancorp. A Philly-area bank is pushing back. Wilmington, Delaware-based WSFS Financial Corp. has opened a limited service office in the Lancaster area for its banking and wealth management subsidiaries, WSFS […]
A state authority has raised the lending cap for borrowers tapping a low-interest loan program to cover real estate and construction costs. The statewide cap for the Pennsylvania Industrial Development Authority‘s Small Business First lending program is now $1 million or 50% of a project’s cost, whichever is less. The limit had been $400,000, in place […]
Truist, one of the largest banks doing business in Central Pennsylvania, has shuttered six branches around the region. The offices include three in Lancaster County and one each in Dauphin, Franklin and York counties. “The decision to close these branches was guided by multiple factors, including how and where clients choose to bank, local market […]
Mid Penn Bank is planning a new branch in the Ephrata area near where The Giant Co. is building a supermarket. The Millersburg-based lender is seeking regulatory permission to open a branch at 35 Hackman Road, a street address along the border between Clay and Ephrata townships off Route 322 northwest of Ephrata borough, according to state regulatory […]
An unusual coalition of financial institutions, law enforcement agencies and prosecutors in Pennsylvania is urging state lawmakers to pass legislation this fall to stop a growing problem: scammers who target and financially exploit senior citizens. In a letter last month, the Pennsylvania Bankers Association, the Pennsylvania Association of Community Bankers, the CrossState Credit Union Association, the Pennsylvania Chiefs of […]
Nearly a decade after co-founding one of Pennsylvania’s first medical marijuana businesses, Mark Toigo has handed the keys to employees. Toigo and Jaime Toigo, his wife and co-owner, have sold 100% of Organic Remedies to its 450-plus workers through an employee stock ownership plan, or ESOP. The company had been courted by growing multistate cannabis operators, but […]