After an early retirement scuttled its CEO succession plans last year, Orrstown Financial Services is back on track.The regional bank named a longtime executive, Adam Metz, as
In a budget proposal for the fiscal year that starts July 1, Gov. Josh Shapiro is proposing to eliminate the bank shares tax and subject banks to the corporate net income tax.First introduced in the 19th century, the tax is based on how much capital banks hold. The he corporate net income tax, or CNI, […]
During a court hearing yesterday, Lancaster-based Blackford ATM Ventures consented to a petition forcing it into Chapter 7 bankruptcy liquidation.The next step is to appoint a bankruptcy trustee to oversee distribution of the company’s assets.The process is not likely to be straightforward, acknowledged an attorney for Silverview Credit Partners, the Florida-based lender that sought to force Blackford into bankruptcy.“It’s […]
A Lancaster-based ATM operator has struck a tentative deal with a creditor that wanted to force it into bankruptcy.Under the deal, Blackford ATM Ventures is getting time to file voluntarily for Chapter 11 bankruptcy, allowing it to reorganize, according to an attorney for the creditor, Silverview Credit Partners.The Tampa-based private lender had sought to impose a Chapter 7 liquidation […]
A Tampa-based private lender is asking a bankruptcy judge to force Lancaster-based Blackford ATM Ventures into Chapter 7 bankruptcy and appoint a trustee to oversee the company.Silverview Credit Partners is arguing that a petition for what is called involuntary bankruptcy is the best way to preserve assets for creditors. Silverview floated two loans to Blackford […]
Fulton Financial is closing 15 branches this spring, including three in York County, in a move described by a Fulton spokesperson as aligning the bank’s services with trends in customer behavior. Like its peers, the Lancaster-based bank is seeing growth in the use of online and digital tools — reducing the need for physical branches […]
Investors hoping to recover money from Lancaster-based ATM operator Paramount Management Group are facing a new hurdle.In a legal filing this month, a Berks County bank claims it has a stake in some of Paramount’s ATMs, as well as any revenue they may be generating.Customers Bank is asking a Lancaster County judge to stay an earlier court agreement […]
The proverbial corner office at Conrad Siegel has a new occupant.The employee benefits consulting and investment advisory firm in Susquehanna Township, Dauphin County has named Abigail Fortino as its next president, effective Jan. 1. She was also named chair of the firm’s management committee.She succeeds Mark Bonsall, who had been president of the firm since 2011. Conrad Siegel […]
Franklin Financial Services, the Chambersburg-based parent of F&M Trust, is rolling out a succession plan for its retiring chief executive.The bank has tapped Craig Best, the former CEO of a Scranton bank, as its next leader effective Jan. 14, according to a regulatory filing.Best, 64, is succeeding Tim Henry, who announced in November that he would retire on April […]
A court order on Friday gave some relief to investors in Paramount Management Group, a financially strapped ATM operator based in Lancaster.But the order did not give the investors everything they wanted.Notably, it stopped short of ordering Paramount to hire a forensic auditor to help recover funds for the investors, who argue they are owed tens […]
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