Centre1st Bank plans to open its first full-service branch in State College by early next year, according to a press release.
A division of Old Dominion National Bank, Centre1st Bank was “created by and for central Pennsylvanians,” the release said.
The bank recently received its regulatory approval to open at 1276 N. Atherton St.
“We are very proud to be opening State College and Centre County’s hometown bank, with a team of veteran local professionals who are excited to be serving their neighbors with the full-service experience of a community bank owned by members of this community,” Pennsylvania Divisional President Jack Infield said in the press release. “We’re gratified by the tremendous support our local team is seeing from businesses and individuals in central Pennsylvania, where our bank has already originated about $60 million in loans and $15 million in deposits to date.”
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According to the release, more than 150 individual shareholders from the State College area have invested about $25 million in Old Dominion National Bank, “an independent community bank with more than $250 million in assets and locations in Pennsylvania and Virginia.”
The Centre1st location is expected to be open for business by the first quarter of 2019, and the release said the bank also offers online and mobile banking services.
“We are very pleased to be entering the State College market so strategically and with such momentum,” Old Dominion President and CEO Mark Merrill said in the release. “... We are also assembling a Central Pennsylvania advisory board of local business and civic leaders, to help promote and grow Centre1st’s business and brand in the region, while advising us to ensure that we’re meeting the needs of the communities we serve in the Keystone State.”