Region’s largest community bank names three local leaders to Board

PERKASIE, Pa. (April 2023) – Penn Community Bank, the largest mutual bank in eastern Pennsylvania, is proud to welcome Becky Bradley, AICP, Ram Mohan, and Robert W. Pritchard, JD, CPA to its board of directors.

“We are pleased to welcome Becky, Ram, and Rob to Penn Community Bank’s board,” said Bill Larkin, Chair of the Penn Community Bank Board of Directors. “Each brings a wealth of professional and community experience and will immediately make a positive impact as we work to ensure Penn Community Bank remains the leading independent, mutual bank in the region.”

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To Our Valued Customers and Communities –

Over the past several days, there has been increasing uncertainty about the strength and security of the financial sector stemming from the failures of Silicon Valley Bank in California and Signature Bank in New York. As President and CEO of Penn Community Bank, I wanted to reach out to you directly and reassure you of our institution’s financial strength and stability.

Our Financial Strength

Our mission is to serve individuals, families and businesses for their lifetime. For this reason we adhere to strict business practices, hold superior capital reserves far above regulatory requirements, and possess the liquidity – including over half a billion dollars available from the Federal Home Loan Bank – to withstand disruption. In fact, our institutional strength has consistently earned us a five-star rating by leading bank reviewer and research firm Bauer Financial.

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Jeane M. Vidoni to serve as president of Fed’s Community Depository Institutions Advisory Council (CDIAC)

 PERKASIE, Pa. (March 2023) – Jeane M. Vidoni, president and CEO of Penn Community Bank, the largest mutual bank in eastern Pennsylvania, has been appointed by the Federal Reserve Board of Governors to serve as president of the national Community Depository Institutions Advisory Council (CDIAC).

The national CDIAC advises the board on the economy, lending conditions, and other issues of interest to community depository institutions. Members are selected from representatives of commercial banks, thrift institutions, and credit unions serving on local advisory councils at the 12 Federal Reserve Banks. CDIAC meets twice a year with the Federal Reserve Board in Washington, D.C.

“In challenging economic times like these, it’s critical that local voices are heard at a national level. As community bankers, we are on the front lines of interacting with businesses, families, and communities directly impacted by the Fed’s policymaking process. I’m glad to be able to lend my voice to this discussion and help advocate for community banks and their customers across the nation,” said Vidoni.

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PERKASIE, Pa. (February 2022) –Penn Community Bank, the largest mutual bank in eastern Pennsylvania, announced it has implemented the Lenders Cooperative Loan Origination System (LOS) which is focused on small business and commercial product lending. The LOS platform provides a fully online digital experience for the bank’s customers allowing them to apply for their capital needs anytime, from anywhere. In addition to the enhanced front-end customer experience, the platform will automate many of the bank’s back-office workflow tasks, allowing the team to make decisions and close loans more efficiently and effectively.

“The team at Lenders Cooperative has been a great partner over the years,” said Jake Iampietro, Director of Retail Banking at Penn Community Bank. “We leveraged their LOS platform to provide access to SBA PPP Funding to thousands of our small business customers during COVID and as we transitioned to the new lending products and workflows in the LOS, we have continued to receive positive feedback from our customers relative to their experiences accessing the Platform. The Lenders Cooperative development team has combined both conventional portfolio lending products and Small Business Administration (SBA) lending products in a seamless end to end workflow which allows us to extend more of the needed capital to our customers who are building and growing their businesses across our communities.”

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Product offering once again certified by national nonprofit for meeting Bank On Account Standards

 PERKASIE, Pa (January 2023) – Penn Community Bank, the largest mutual bank in eastern Pennsylvania, announced that its Access Checking account has once again been certified by the national Cities for Financial Empowerment Fund (CFE Fund) as meeting the Bank On National Account Standards (2023 – 2024). The national safe account Standards, co-created by consumer advocates, leading national nonprofit organizations, civic leaders, and other financial institutions, designate both core and strongly recommended features that ensure low cost, high functionality, and consumer safety.

The goal of Bank On is to ensure that everyone has access to safe and affordable financial products and services. The Bank On National Account Standards identify critical product features for appropriate bank or credit union accounts, making it easier for local coalitions across the country to connect consumers to accounts that meet their needs.

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ALLENTOWN, Pa (January 2023) – Penn Community Bank, the largest mutual bank in eastern Pennsylvania, has teamed up with the Lehigh Valley Phantoms as part of a new corporate partnership.

As part of the multi-year agreement, Penn Community Bank will hold a prominent position with the franchise, featuring the naming rights of the PPL Center concourse and owner of an Executive Suite. Penn Community Bank celebrated the partnership by serving as the presenting sponsor of the Lehigh Valley Phantoms New Year’s Eve game, which led into Allentown’s New Year’s Eve Celebration, concluding with the World’s Largest Puck Drop at midnight.

“We are happy to have Penn Community Bank join our team and be a part of the great work we’re doing here in the Lehigh Valley,” said Dennis Begley, Vice President of Partnerships and Premium Seating with the Lehigh Valley Phantoms. “From an unparalleled gameday experience to impactful charitable partnerships, we look forward to a long relationship that benefits our franchise, the bank, and the community as a whole.”

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