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Media Center | Press Releases « 2005 Press Releases »
2005 Press Release
FOR IMMEDIATE RELEASE
Contact:
Neil
Cotiaux, FHLBank of Pittsburgh: 412-288-2851; cell:
330-703-0753
Loren
Berckey, Leesport Financial Corp: 610-478-9922,
ext. 245
LEESPORT BANK HONORED FOR COMMUNITY-SPIRITED LENDING:
'PILLARS OF THE COMMUNITY' AWARD CITES BANK'S ROLE IN
JOBS, HOUSING
LANCASTER, PA, June 27, 2005 Citing its
financial support for small businesses and first-time
homebuyers, the Federal Home Loan Bank of Pittsburgh
(FHLBank) today honored Leesport Bank with its Pillars
of the Community Award.
Each year, the FHLBank selects a single bank in each
of four geographic regions for outstanding work in promoting
community revitalization and economic development as
well as housing for lower-income families. Leesport
Bank received this year's award at a gathering of regional
financial institutions in Lancaster, PA.
"Once a year, we recognize a handful of banks
across our Delaware, Pennsylvania and West Virginia
district whose twelve-month lending record displays
a superior commitment to creating sustainable communities,"
said John J. Bendel, director of Community Investment
for the FHLBank of Pittsburgh. "Leesport Bank very
effectively utilized our Banking On Business (BOB) program
and Home Buyer Equity Fund (HBEF) during 2004 to help
save and create jobs and get people with limited incomes
into their first homes. It is for this work that they
are being honored."
The FHLBank of Pittsburgh is making a $1,000 donation
to the Children's Alliance Center of Berks County in
recognition of Leesport Bank's outstanding community
record.
Dozens of jobs retained, created
During 2004, Leesport Bank, a 114-year old institution,
extended nearly $200,000 in funding through the FHLBank
of Pittsburgh's BOB program, supplementing those monies
with nearly $600,000 in small-business loans, to assist
two area businesses with their expansion plans. Thirty-nine
jobs will be created or preserved at Hamburg Industries
and at Bierber Family Chiropractic at Bernville.
In addition, over the past year, Leesport Bank distributed
a total of $36,000 in grants to twelve first-time homebuyers
under the FHLBank's HBEF program, assisting persons
of limited means with down payment and closing costs.
Ongoing community commitment
Leesport Bank remains extremely active in the communities
it serves. The bank's employees volunteer for a variety
of nonprofit boards, committees and at numerous fundraising
events; it contributes financial support to civic organizations;
and it offers space in its offices for nonprofit fundraisers.
On average, Leesport Bank supports more than 200 different
community groups each year, a number that is expected
to double with the addition of Madison Bank to the Leesport
Financial Corp. family of companies. Wyomissing-based
Leesport Financial operates consumer and business banking,
insurance and investment offices throughout Berks, southern
Schuylkill, Montgomery and Philadelphia counties.
Pillars of the Community recipients are selected from
member financial institutions of the FHLBank of Pittsburgh
that have used the Bank's community investment products
in the previous calendar year. Winners are selected
by a Bank committee and are approved by the Affordable
Housing and Community Investment Committee of the Bank's
Board of Directors.
With assets of approximately $61 billion, the FHLBank
of Pittsburgh, a government-sponsored enterprise that
uses private capital for a public mission, serves nearly
340 financial institution members across its three-state
district. It is one of twelve FHLBanks, all cooperatively
owned banks that provide a steady stream of low-cost
funding for housing, community lending and other development
needs to its members.
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