A nonprofit investor that tracks corporate performance on environmental, social and governance issues is asking Sunbury-based Weis Markets to beef up its disclosures on climate change and
Mid Penn Bancorp is fielding a sports and entertainment division designed to cater to the financial needs of high-profile athletes and entertainers.The unit formalizes an area where Mid Penn already has been making inroads, said Jordan Space, the bank’s COO. Many celebrities have come to know and trust the Harrisburg-based bank through its annual celebrity golf tournament […]
Four months after taking the field, a statewide venture fund is taking its first shots.The so-called GO PA Fund has invested in two companies, a financial technology firm based in Swarthmore and an advertising tech company based in New York, albeit with roots and some operations in Philadelphia. The fintech company is LoanStar Technologies, which helps […]
After closing more than 200 branches in 2023, PNC Bank said yesterday it is aiming to spend $1 billion over the next four years to renovate 1,200 branches nationwide and open 100 new ones in some of the country’s fastest-growing citiesBanks are cutting branches. But they also have been opening them in markets where they see potential […]
Fulton Financial has named an interim CFO following the resignation last week of Mark McCollom, who had been the bank’s finance chief since 2018.A regulatory filing and press release issued Friday did not disclose the reason for McCollom’s departure. Lancaster-based Fulton has named Beth Ann Chivinski as interim CFO while it conducts a formal search process to fill the position. […]
A bumpy financial road is prompting local banks to tap the brakes on lending.Banks are still making loans. However, they may not be as aggressive in courting new business. Nor are companies eager to add debt, with interest rates still elevated and the economic outlook uncertain. A quarterly survey of bank loan officers by the Federal […]
Lancaster-based nonprofit lender Community First Fund has filled a pair of C-suite roles. Elizabeth Bennett has been named the lender’s CFO, while Ed Gallagher has been named chief credit officer. Bennett worked most recently as CFO for Pennsylvania College of Art & Design in Lancaster and has also held finance roles at Lancaster Theological Seminary and Ephrata-based D&E Communications. Bennett succeeds Lloyd […]
A pair of longstanding local banks are coming together in a merger valued at $207 million.Under the all-stock deal, dubbed a merger of equals, the York County-based parent of PeoplesBank is merging into Shippensburg-based Orrstown Financial. The combined bank — which will take the Orrstown name — would have assets of roughly $5.2 billion and a network of 51 branches in […]
Thanks to a single deal, Linkbancorp went this year from doing business in one state to doing business in five.That deal was the bank’s merger this fall with Maryland-based Partners Bancorp.The all-stock deal closed at the end of November, followed by a bankwide conversion to the Linkbank brand over the first weekend in December, according to Andrew Samuel, CEO of […]
State officials are directing federal funds toward venture capital firms they hope can jumpstart early-stage tech companies in Pennsylvania. The firms are Allegheny County-based BTVC Fund I LLP, which is receiving $1.5 million, and Atlanta-based Metallum Ventures LP, which is getting $2.25 million. The funding, announced yesterday, comes from the State Small Business Credit Initiative, a federal program that […]
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