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2004 Pillars of the Community Awards

2004 marks the twelfth anniversary of the Pillars of the Community Awards. The awards honor member financial institutions for the entire scope of their community investment work throughout the past year. One winner is being celebrated at each of the four FHLBank of Pittsburgh regional conferences this summer. Financial institutions honored as Pillars of the Community make it a priority to invest in communities in a multitude of ways. They provide funding from a variety of sources, and combine it with exemplary commitment and hard work, to finance projects and initiatives in their service areas. They take advantage of the FHLBank of Pittsburgh's targeted community investment programs — the Affordable Housing Program, Banking On Business, the Community Lending Program, the Home Buyer Equity Fund — to make a real difference in local communities. They involve the time and skills of their entire staff in offering volunteer initiatives and other forms of outreach to community groups helping those in need. Through the efforts of these exemplary members, homes become affordable, businesses grow and create jobs, neighborhoods gain new vitality, and the lives of individuals and families become better!

Presented at the 2004 Regional Conference on June 7
Philadelphia, PA

Sovereign Bank
Wyomissing, PA

Sovereign Bank has a long-standing commitment to community investment in the neighborhoods it serves. Sovereign supports first-time homebuyers, affordable rental housing, community and economic development, health care and education, while creating and supporting jobs and services in lower-income areas. Sovereign's Community Development Mission Statement may say it best: "Sovereign Bank's commitment toward improving the quality of life in our communities reflects our conviction that we have an opportunity to make a difference."

Sovereign has long been an energetic user of FHLBank community investment programs. Since the inception of the Affordable Housing Program in 1990, Sovereign has administered 57 projects using more than $12 million in AHP funding. Over the past three years, Sovereign has disbursed more than $3 million in Home Buyer Equity Fund dollars, helping more than 800 first-time homebuyers realize their dream of homeownership.

Sovereign employees are also very active in the local community. In 2003, Sovereign employees banked more than 32,000 volunteer hours for more than 750 organizations. Sovereign managers sit on the boards of several nonprofit organizations, and the Sovereign Bank Foundation has contributed an additional $2 million to community-based economic and affordable housing organizations. Sovereign is the banking participant in a pilot youth program called "Dollar-4-Dollars," which provides savings and financial education for high school students in lower-income neighborhoods. Students can earn up to a dollar for every dollar they save.

In honor of this award to Sovereign Bank, the FHLBank of Pittsburgh is presenting a check for $1,000 to Easy Does It Inc. of Leesport, PA.

Presented at the 2004 Regional Conference on June 14
Pittsburgh, PA


Mars National Bank
Mars, PA

Mars National Bank has been serving western Pennsylvania since 1900, providing customers with "Service Out of This World." Independently owned and operated, with five offices across three counties, Mars National has always been community-focused and invests resources within the neighborhoods it serves.

Mars National Bank has used the FHLBank's Affordable Housing Program to great advantage. Since the AHP's inception in 1990, Mars has administered 15 projects using more than $2 million in AHP funding. One good example is Hosanna Industries, a nonprofit housing builder and redeveloper. Over the past two years, Mars has made possible more than $600,000 in AHP funding to help Hosanna build twelve new homes and rehabilitate 100 more for low-income families in western Pennsylvania.

Mars National Bank employees are also very active in the local community. In 2003, employees volunteered for a number of nonprofit organizations and events, such as Junior Achievement of Southwestern Pennsylvania and Butler County's United Way Day of Caring. Some employees routinely speak to high school classes and Girl Scout troops on banking issues or future careers in banking. Several bank managers serve on the boards of local nonprofit and community groups.

Mars National Bank has continued to be a community leader in the borough of Mars. In 2003, the bank secured a grant from the Pennsylvania Department of Community and Economic Development on behalf of the borough to be used for redevelopment purposes. Executives and officers of the bank are active in the Mars Area Redevelopment Commission, raising funds for the renewal of downtown Mars, including sidewalks, curbs, lampposts, benches and trees.

In honor of this award to Mars National Bank, the FHLBank of Pittsburgh is presenting a check for $1,000 to Hosanna Industries, Inc. of Rochester, PA.

Presented at the 2004 Regional Conference on June 21
Hazleton, PA

Community Bank & Trust Company
Clark's Summit, PA

Community Bank & Trust Company has been meeting the financial and community needs of northeastern Pennsylvania since 1934. Most recently, the bank served local credit needs by providing loans to an educational nonprofit organization and to a service provider and advocate for the poor, the under- and unemployed, the elderly and other groups at risk. The bank offered lines of credit to a residential rehabilitative institution that strives to heal and teach troubled children, and it granted dollars for the AmeriCorps VISTA program.

Community Bank & Trust has also been a strong user of FHLBank programs, especially the Banking On Business program. In 2003, Community Bank & Trust enabled the flow of more than $400,000 in BOB funding to businesses in the Clark's Summit area. These businesses expect to preserve or create approximately 150 jobs for local residents.

In 2003, Community Bank employees volunteered extensively through a community service program that benefits dozens of civic, professional, religious, nonprofit and educational organizations. Many bank managers and officers participate on the boards of the same or similar organizations. The bank also assisted in securing grants from the ExxonMobile Education Alliance program for five local schools. The bank donated more than $200,000 to local schools and nonprofits in 2003.

In honor of this award to Community Bank & Trust, the FHLBank of Pittsburgh is presenting a check for $1,000 to the Upper Valley YMCA of Carbondale, PA.

Presented at the 2004 Regional Conference on June 28
Lititz, PA

National Penn Bank
Boyerstown, PA

For more than 130 years, National Penn Bank has been serving the financial and community needs of southeastern Pennsylvania.

In recent years, National Penn has been an active user of FHLBank programs. 2003, for example, saw the completion of the Allentown Supportive Housing, or Good Shepherd, project. Funded through the FHLBank's Affordable Housing Program, Good Shepherd now offers 18 apartments for low-income adults with severe physical disabilities who are nevertheless capable of providing for their own personal care needs.

Over the past three years, National Penn has obtained grant assistance through the FHLBank's Home Buyer Equity Fund, helping 34 low-income families and individuals realize their dream of homeownership. National Penn has also co-funded a program that strengthens budget-counseling services and provides energy-savings improvements to homes for low-income families.

National Penn Bank is very active in the local community. In 2003, National Penn contributed in excess of $400,000 to hundreds of community nonprofit organizations. During the same time, employees gave more than 8,500 hours of their own time as volunteers in local communities.

In honor of this award to National Penn Bank, the FHLBank of Pittsburgh is presenting a check for $1,000 to Neighborhood Housing Services of Reading, PA.

2004 Affordable Housing Advisory Council's Award

The Council's Award is chosen on behalf of the FHLBank's Affordable Housing Advisory Council. It goes to an individual who demonstrates a lifelong commitment to affordable housing and whose career leadership has achieved important and lasting results in the community. Recipients of the Council's Award are true leaders in affordable housing and community investment.

Presented at the 2004 Regional Conference on June 14
Pittsburgh, PA

Robert J. Colalella
Senior Vice President, CRA Officer
ESB Bank
Ellwood City, PA

Bob Colalella has an extensive list of community investment and community service credentials. For more than 30 years, Bob has helped ESB Bank become a leader in community and economic development in the region. As ESB's CRA officer since 1977, Bob has developed and communicated the bank's low- to moderate-income lending programs, as well as general banking products and services, to local community groups.

Bob has also been instrumental in ESB's use of community investment programs through the FHLBank. He has secured nearly $700,000 in AHP grants for affordable housing projects that benefit first-time homebuyers, seniors and the mentally ill. ESB has been a frequent user of the HBEF program, helping more than 50 low-income families and individuals realize their dream of homeownership.

Bob's community work doesn't end at the office door. A current and past member of numerous boards and community groups, Bob is chairperson of the board for the Beaver County Chamber of Commerce. He is also chairperson of Beaver County Link, a cooperative effort to promote economic and business development. Bob is a director and past chairman for Job Training for Beaver County and is active in the FHLBank's Minority Homeownership Initiative.

Bob Colalella's dedication to affordable housing and community investment has made western Pennsylvania a better place to live and work.