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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.

 

 

 

Serving our members in Delaware, Pennsylvania
& West Virginia


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