Banking & Finance
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First Bank Recognizes Top Performers Following Year of Record Growth in 2023
First Bank has promoted 38 employees who played key roles in supporting customers and communities while helping the bank thrive and grow amid a record 2023. Some notable promotions within senior leadership include Darleen Gillespie, Chief Retail Banking Officer, promoted to Executive Vice President; Michael Smith, Director of Small Business and Corporate Development, promoted to…
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Firstrust Bank Expands Access for First-Time Homebuyers
Philadelphia’s Hometown Bank is opening doors for first-time homebuyers. The First Front Door program is now available at Firstrust Bank. The First Front Door program, administered by the Federal Home Loan Bank of Pittsburgh, provides down-payment and closing-cost assistance to eligible first-time homebuyers. Borrowers can qualify for up to $15,000 in assistance to make the…
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Amidst Continued Growth, Citadel Credit Union Reinforces Commitment to the Communities It Serves
Citadel Credit Union is reinforcing its dedication to supporting the communities it serves across Chester, Bucks, Delaware, Montgomery, Lancaster, and Philadelphia counties through ongoing community initiatives. Corporate Responsibility In July 2023, Citadel formalized its corporate giving and volunteer program, Citadel Cares, with a commitment of more than $2 million in the next four years and…
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Protecting Your Finances: First Bank’s Best Practices Against Check Washing and Theft Scams
The United States Postal Inspection Service recovers over $1 billion in fraudulent checks and money orders yearly. If you mailed a paid check, but the recipient never received it, criminals may have stolen it. Fraudsters are targeting paper checks sent through the mail. Once they have a check you mailed, they use chemicals to “wash”…
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Understanding EBITDA as A Key Metric in Obtaining SBA Financing
Within SBA financing, EBITDA is a crucial metric used by SBA Lenders. It’s an acronym for Earnings Before Interest, Taxes, Depreciation, and Amortization and measures a company’s operating performance without factoring in certain non-operational expenses. EBITDA highlights the exclusion of these specific expenses to provide a clearer picture of a business’s operational efficiency. EBITDA provides…
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WSFS Bank Launches Early Pay, Enabling Customers to Receive Eligible Direct Deposits Early
WSFS Bank has launched Early Pay, which allows customers to receive eligible direct deposits from their employers up to two days early. Early Pay is also available for recurring government benefits, such as Social Security payments. “We’re thrilled to be able to offer Early Pay to our customers to help streamline their eligible direct deposits…
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Homebuying in 2024: Are Discount Points Worth the Cost?
When compared to previous years, 2023 mortgage rates skyrocketed, making homebuying difficult or even out of reach for some. In an attempt to alleviate this challenge, many homebuyers turned to discount points, which essentially means they paid extra money upfront to lower their interest rate. Think of it like a VIP pass to a lower…
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FirstBank Charitable Foundation’s Better Giving for Greater Impact Summit: Uniting for Positive Change
On May 9, the FirstBank Charitable Foundation will present its pioneering event in philanthropy, the Better Giving for Greater Impact Summit. This groundbreaking summit brings together a diverse array of stakeholders committed to making a meaningful difference in the communities it serves. From nonprofit leaders to philanthropists, community funders, and local businesses, this summit aims…
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Patrick Hart Joins Meridian Bank as SVP, Commercial Lending
Meridian Bank has appointed Patrick Hart to the position of Senior Vice President, Commercial Lending. As part of the bank’s Chester County team, he’ll partner with commercial and industrial organizations throughout that community. Hart received his undergraduate degree in accounting from Drexel University, followed by an MBA in finance from Drexel. He has spent his…
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Philadelphia Eagles and Firstrust Bank Award High School Entrepreneurs in Student Business Pitch Competition
Six teams of students from four high schools in the Greater Philadelphia and Southern New Jersey regions recently competed in a business pitch challenge hosted by the Philadelphia Eagles and Firstrust Bank. The competition marked the culmination of the Entrepreneurs Game Plan powered by EVERFI program, a digital learning platform implemented in 30 area high…
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WSFS Mortgage Study Reveals Positive Attitudes Toward Reverse Mortgages but Also Educational Opportunities
Reverse mortgages are gaining traction as a viable financial strategy for retirees seeking to enhance their cash flow and maintain their lifestyle in their golden years, according to a recent study by WSFS Mortgage, a division of WSFS Bank. The study, which surveyed 750 homeowners aged 60 and older, sheds light on the potential benefits…
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Savings, MMA or CD: How Do I Know Which Is Best
The week of Apr. 8-12 is America Saves Week 2024. Since 2007, America Saves Week has been calling on everyday Americans to commit to successful saving. With the support of numerous participating organizations, First Bank encourages individuals to conduct a financial check-up, gain insight into their finances, set savings goals, and develop plans to achieve…
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8 Healthy Financial Habits You Should Develop
April is Financial Literacy Month. Feeling overwhelmed by finances is common, with nearly half of Americans living paycheck to paycheck. Healthy financial habits can help reduce financial stress, increase financial security, and enhance peace of mind. To alleviate this stress and secure your future, consider adopting these eight crucial financial habits: Live Within Your Means…
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First Resource Bank CEO and Co-Founder Glenn Marshall Passes Torch to Lauren Ranalli
First Resource Bank’s Co-Founder and CEO Glenn Marshall formally passed his leadership torch to Lauren Ranalli on Mar. 31. Ranalli is now the President, Co-Founder, and newly promoted CEO. Following a 20-year tenure as the Bank’s Chief Financial Officer and Board Member, this appointment has distinguished Ranalli as one of only three women serving as…
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C&N Celebrates ‘the Magnitude of Its History’: 160 Years of Building Relationships, Empowering Communities
C&N recently commemorated its 160th anniversary with a week-long celebration throughout the bank that culminated with ringing the NASDAQ opening bell on March 22. “I have reflected on what 160 years of banking has meant to the customers and communities that C&N has served and thought about the relationships we’ve built with generations of families,…
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First Resource Bank Reveals Lending Department Leadership Changes
First Resource Bancorp, Inc., the holding company for First Resource Bank, has promoted Lee Herzer to Executive Vice President and Chief Lending Officer, effective Apr. 1. Herzer brings 20 years of extensive experience in the banking industry and has been an integral part of the First Resource Bank team since 2017. In his new role,…
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WSFS CARES Foundation Provides More Than $185,000 in First-Quarter Grants to Community Organizations
The WSFS CARES Foundation, the charitable giving arm of WSFS Bank, has provided grants to five organizations as part of its continuing series of philanthropic activities. The grants will support the following organizations: “The mission of the WSFS CARES Foundation is to support nonprofits that are invested in improving communities and fostering a spirit of…
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First Bank Launches ZEscrow and ZRent Escrow and Rent Management Tools
First Bank has launched ZEscrow and ZRent, two innovative financial platforms designed to increase the convenience and efficiency of businesses in managing escrow, subaccounts, and rent collection. Developed by ZSuite Tech, ZEscrow and ZRent are responsive digital solutions designed to simplify escrow account management and monthly rent collection. ZEscrow streamlines the escrow process, providing customers with…
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