MALVERN, Pa.--(BUSINESS WIRE)--Peoples Security Bank & Trust Company was presented today with the prestigious FHLBank Pittsburgh Pillars of the Community Award in recognition of their commitment to community lending, revitalization and service over the past year. The Pillars Award is FHLBank Pittsburgh’s highest honor and is presented annually to select FHLBank members.
Peoples Security Bank & Trust, headquartered in Scranton, Pa., received the award at an FHLBank Pittsburgh regional member event held today in Malvern, Pa. During the event, John Bendel, FHLBank Senior Director of Community Investment, praised Peoples Security Bank & Trust’s community achievements.
“Peoples Security Bank & Trust is truly honored to be recognized for this distinguished award,” said Thomas P. Tulaney, Senior Executive Vice President and Chief Operating Officer, Peoples Security Bank & Trust Company. “More importantly, we want to thank FHLBank Pittsburgh for their proactive approach in providing innovative products and services that have directly benefited both consumers and small business owners in our market areas. In particular, these programs have provided housing for low-income senior citizens, homeownership for first-time homebuyers, and new job creation for a number of our small business customers.”
As part of the Pillars of the Community Award, FHLBank presented a $1,000 check on behalf of Peoples Security Bank & Trust to the Scranton Counseling Center, an integrated behavioral healthcare delivery system providing services to children and adults of all ages with various emotional, developmental and addictive difficulties.
An active member of the FHLBank cooperative, Peoples Security Bank & Trust saw completion in 2018 of phase one of the Lehigh Coal and Navigation Building, which provides 27 apartments to low-income seniors in Jim Thorpe, Pa. The project took advantage of a grant from FHLBank Pittsburgh’s Affordable Housing Program.
Peoples Security Bank also used FHLBank’s Banking On Business product in 2018 to provide nearly half a million dollars in financing to small businesses. Peoples Security Bank made good use of FHLBank’s Home4Good and First Front Door products as well, ensuring that more individuals and families find decent, affordable homes.
“Peoples Security Bank & Trust Company is committed to making positive change in the communities it serves,” said Winthrop Watson, FHLBank President and CEO. “Their work in creating affordable housing, assisting small businesses, placing families in their first homes, and fighting homelessness shows just how deep that commitment is. We are proud to have Peoples Security Bank & Trust as part of our membership cooperative.”
About Peoples Security Bank & Trust Company
Established in 1905 and headquartered in Scranton, Pa., Peoples Security Bank & Trust is one of the largest independent community banks in eastern Pennsylvania. With a footprint stretching from suburban Philadelphia to Binghamton, New York, Peoples Security Bank and its 28 full-service branches serve Bucks, Lackawanna, Lebanon, Lehigh, Luzerne, Monroe, Montgomery, Northampton, Susquehanna, Wayne and Wyoming counties in Pennsylvania, and Broome County in New York. Each office offers a wide range of financial products and services to individuals, businesses, not-for-profits, and government entities. Additionally, its Business Lending Center in Orwigsburg, Pa. serves Schuylkill County. For more information, visit www.psbt.com.
About FHLBank Pittsburgh
As an intermediary between global capital markets and local lenders, FHLBank Pittsburgh provides readily available liquidity, as well as affordable housing and community development opportunities, to member financial institutions of all sizes in Delaware, Pennsylvania and West Virginia. The Bank is one of 11 banks in the Federal Home Loan Bank System, which was established by Congress in 1932 and serves as a reliable source of funds for housing, jobs and growth in all economic cycles. To learn more, visit www.fhlb-pgh.com.