|[August 22, 2013]
First Resource Bank Recognized for Outstanding Community Service, Receives Pillars of the Community Award
EXTON, Pa. --(Business Wire)--
First Resource Bank was presented today with the prestigious Federal
Home Loan Bank of Pittsburgh (FHLBank) Pillars of the Community Award in
recognition of First Resource's commitment to community revitalization.
The Pillars award is FHLBank's highest organizational honor and is
presented annually to select FHLBank members.
First Resource received the award at a ceremony held at equine
veterinary center Unionville Equine Associates, PC - one of the many
community projects and businesses recently supported by the bank. At the
presentation, John Bendel, FHLBank director of community investment,
spoke about First Resource's community achievements, and U.S. Rep.
Patrick Meehan and State Senator Dominic Pileggi commended the bank for
its commitment to good works in the region. Glenn Marshall, president
and CEO of First Resource, accepted the award on behalf of the bank.
As part of the award, FHLBank also presented a $1,000 check on First
Resource's behalf to the Downingtown Area Senior Center, which provides
service to more than 1,500 individuals per year. Bill Pierce from the
Senior Center was in attendance to receive the check.
An active member of the FHLBank cooperative, First Resourc Bank has
taken advantage of the Community Lending Program, channeling nearly $4.3
million dollars in low-cost loans - most of that in 2012 alone - to
support community projects and organizations. The bank also enrolled in
the Banking On Business program last year, which they can use to further
support local small businesses.
"First Resource is an organization that really cares about its
community, supporting local causes and businesses in a variety of
industries," said Winthrop Watson, FHLBank's president and CEO. "We are
proud to have First Resource as part of our membership cooperative."
About First Resource Bank
First Resource Bank is a locally owned and operated Pennsylvania
state-chartered bank, serving the banking needs of businesses,
professionals and individuals in Chester County, Pennsylvania. The Bank
offers a full range of deposit and credit services with a high level of
personalized service. First Resource Bank also offers a broad range of
traditional financial services and products, competitively priced and
delivered in a responsive manner to small businesses, professionals and
residents in the local market. For additional information, visit www.firstresourcebank.com.
About FHLBank Pittsburgh
FHLBank Pittsburgh is a wholesale bank that serves the housing finance
and community and economic development needs of its owner-members.
FHLBank Pittsburgh provides reliable access to low-cost funds,
competitive pricing in the purchase of mortgage loans, correspondent
banking, technical assistance, affordable housing grants and other
programs so members can better serve their own communities. FHLBank
Pittsburgh is privately capitalized and funded and does not use taxpayer
dollars. At June 30, 2013, it had 294 members in its district of
Delaware, Pennsylvania and West Virginia and approximately $60 billion
in assets. FHLBank Pittsburgh is one of 12 Banks in the Federal Home
Loan Bank System, established by Congress in 1932 to support the
residential mortgage and community development activities of local
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