Info

Penn Liberty Bank serves the local community by offering a wide array of financial products and services to small and mid-size businesses, professional real estate developers and investors, and retail consumers throughout the suburban Philadelphia market place. The initial capitalization of the Bank of $30 million provides for a very strong financial foundation to facilitate targeted expansion, which will include the addition of one branch office per year, for a total of six branch offices over five years of operations. These Branches will be concentrated in the Western and Northern suburbs of Philadelphia. The organizers of the Bank, Patrick J. Ward, Brian Zwaan and David Griest, who serve as members of executive management, have demonstrated the success attainable in the community banking environment through their prior involvement in Commonwealth Bank, Norristown, Pennsylvania, which was a $1.8 billion community bank with 61 branches in eastern Pennsylvania prior to its sale to Citizens Financial Group in January 2003. Commercial lending will be the Bank's primary lending focus, with an emphasis on establishing commercial account relationships with businesses based in the growing Philadelphia suburbs concentrating on: Locally owned and operated small to mid-sized businesses with revenues of up to $50 million annually; and Locally-based professional real estate developers and investors. Our retail banking focus is to service: Business owners and their employees; and Local consumer depositors with a focus on affluent individuals in the 50-plus age bracket. A key aspect of the our marketing strategy is to operate a service-oriented bank that provides a full range of traditional commercial banking and retail consumer services, primarily to small business and individual consumers in the market area. In this regard, the Bank will offer a full range of products and services including demand deposits, savings and time accounts from the depository perspective and will specialize in providing for the credit needs of the small business community within the market area. The commercial and consumer customers will have convenient access to all services through a strategically situated branch office network, as well as through various alternative delivery mechanisms including Internet banking services and automated teller machines. We will seek to differentiate itself from the local competition on the basis of a high level of service, which will be facilitated by the locally-based management which will provide timely credit decisions and insight into the customers banking needs.