MONROEVILLE, Pa.--(BUSINESS WIRE)--Standard Bank PaSB (Standard Bank) was presented today with the prestigious Federal Home Loan Bank of Pittsburgh (FHLBank) Pillars of the Community Award in recognition of the bank’s commitment to community revitalization. The Pillars award is FHLBank’s highest organizational honor and is presented annually to select FHLBank members.
Standard Bank received the award at one of the FHLBank’s regional member conferences. John Bendel, FHLBank director of community investment, spoke at the event about the bank’s community achievements. Harold Hribal, Standard Bank’s vice president of community development, accepted the award on behalf of the bank.
As part of the award, FHLBank also presented a $1,000 check on Standard Bank’s behalf to the Union Mission of Latrobe, which provides temporary shelter and needed services to homeless men in Westmoreland County and surrounding counties.
An active member of the FHLBank cooperative, Standard Bank has taken advantage of the Banking On Business program and Community Lending Program, channeling nearly $7 million dollars in low-cost loans in 2013 to support community projects and organizations. The bank is also an active user of the First Front Door program and the Affordable Housing Program.
“For more than 100 years, Standard Bank has been committed to the growth and well-being of the communities it serves,” said Winthrop Watson, FHLBank’s president and CEO. “FHLBank Pittsburgh is pleased to work alongside the people of Standard Bank to make life better for the people, businesses and organizations in its footprint.”
About Standard Bank
Standard Bank has been serving local communities since 1913. The bank’s nine locations serve the Monroeville, Murrysville, Greensburg, Mt. Pleasant, Scottdale, Ligonier and Hyndman communities in Pennsylvania, along with the Cumberland and LaVale communities in Maryland. For additional information, visit www.standardbankpa.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 December 31, 2013, it had 297 members in its district of Delaware, Pennsylvania and West Virginia and approximately $71 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 financial institutions.
