Who are these three valuable directors? Let’s recap.
James C. Henderson served the board for 35 years and has “lived locally all my life” (as Jim put it!). He was a 1943 graduate of Sandy Lake High School and a 1950 graduate of Grove City College. He and his wife, Nancy, are proud parents to four daughters. Jim has been an engineer for CB&I in Greenville for 32 years. On his retirement Jim stated, “Mercer County State Bank has shown remarkable growth during my involvement as a director. A number of branches have been added including Cambridge Springs, Meadville, Cochranton, and Clintonville with several branches in Mercer County. Many services have been added, including an investment broker and an insurance broker.”
Harold A. McQuiston has devoted 30 years to the bank and he has been a local resident for 80 short years! He attended New Vernon Township Elementary School and Sandy Lake High School. Harold and his wife, Sally have been local residents for years. Harold has four children: Bruce McQuiston (Insurance), Ellen Maloney (a teacher), Cathie McQuiston (an attorney), and Susan McQuiston (a teacher and basketball coach). Harold has been involved in a local jewelry store and McQuiston Insurance Agency. His thoughts on the bank, “I have been honored to serve on the Mercer County State Bank board for 30 years and realize what a fine bank it is for the customers that are served by the bank. To the excellent employees and management team…..Thank you!”
Glenn Snyder has served on the board for 22 years and has been a local resident for 50 years. He is a graduate from Franklin High School. He and his wife, Shirley, reside in Sandy Lake and raised their 4 children here (Sharlene, Ronald, Robert, and Susan). On his retirement he added, “I am confident that the new leadership of the bank can and will remain faithful to the ideals, goals, and philosophy that has always been the foundation of our continuing success.”
As you can see, these three men have dedicated themselves to this wonderful community and to the customers of the Mercer County State Bank…..Community Minded….Just Like You!
Bruce, a lifelong resident of the community, and a 3rd generation
of McQuistons in Sandy Lake, graduated from Lakeview High School. McQuiston
Insurance agency was founded by Bruce’s father in 1954. Seeing the
potential for a great career in the insurance business, Bruce obtained his
insurance license in November 1974 and began his employment at the agency.
He attended Dickenson College in Carlisle, Pennsylvania, and Mills College
in Oakland, California. Bruce has completed many LUTC classes, as well as,
enrolls annually in insurance Continued Education classes. In May 1991,
Bruce purchased McQuiston Insurance agency from his father.
On Friday, April 15th, Mercer County State Bank will be hosting a “Customer Appreciation Day” at all of their 9 locations. Along with refreshments, Mercer County State Bank will be holding a coloring contest, and giveaways. Celebrating “Customer Appreciation Day” is one way that Mercer County State Bank would like to convey the community banking mission, and the unique criteria which differentiate them from other financial institutions.
“Most people who do business with our bank think that personal service is what sets us apart, but the benefits of community banking are much more; reaching to the very heart of our local communities,” said Ray Kaltenbaugh, bank president and CEO.
Community banks operate differently from the larger financial institutions. In contrast, community banks put the people of their communities first in all financial decisions made, which are done locally; employees are local residents; and reinvesting in the communities which we serve is a high priority.
Community Banking Week is sponsored by the Pennsylvania Association of Community Bankers, a state-wide organization with more than 250 community banking institutions as members.
Press Release for Mercer County State Bank Tsunami Donation
Mercer County State Bank and its communities once again joined forces to provide assistance to those in need. For the victims of the tsunami disaster, the employees and residents of the counties in which Mercer County State Bank serves have opened their hearts and generously donated money to World Vision, a Christian relief and development organization.
Collections for the disaster victims were held in January at the local branches, and money was donated by Mercer County State Bank customers. The bank employees also held a collection, and that total was matched by the Board of Directors. A grand total of $4,177.97 in contributions was collected and sent to World Vision for relief and recovery assistance.
The bank extends a heartfelt thank you to all their customers that donated so generously. In addition, the bank also commends the employees and the Board of Directors for their efforts in contributing to the relief of those who are suffering from the disaster. Mercer County State Bank is proud to be a part of the communities it serves.
2004 IN REVIEW by Gary Stamp
2004 brought exciting changes to Mercer County State Bank, your local community Bank. One of the highlights was in October when Mercer County State Bank purchased the McQuiston Insurance Agency in Sandy Lake, which also included the Hume Agency in Grove City. This new team affiliation will benefit our customers with many additional insurance products and services.
Another major effort of the bank was the construction of the new Meadville Office. The current office in the Meadville Mall will be relocated to the new facility in January 2005 with a grand opening celebration on February 4th and 5th. This new location will provide better access for our customers and will include drive up banking and drive up ATM facilities.
On the deposit side of the bank, new checking account products were added for consumer and business customers. And internet banking has done much better than expected. Customers appreciate the convenience of 24/7 banking. And the impact of Check 21? The changes and confusion expected with the enactment of the Check 21 legislation in October never seemed to materialize for Mercer County State Bank.
Many more behind the scenes technological improvements will be made in 2005. A new customer service system designed to speed up and simplify processing new accounts will be implemented. In addition, an updated teller processing system will be installed. Both of these improvements will increase the efficiencies of processing customer transactions.
So yes, 2004 was full of new and fun changes….but 2005 promises even more.
2003 IN REVIEW by Gary Stamp
2003 was another year of change at Mercer County State Bank to better serve our customers and maintain the Bank’s focus on our local communities.
December 31 brought the retirement of the Bank’s Chairman of the Board, Robert A. Kaltenbaugh. A Board member since 1963 and Chairman since 1995, Mr. Kaltenbaugh was a great asset to the Board during his 40 years of service. His participation and contributions to the Bank Board will be sorely missed.
Replacing Mr. Kaltenbaugh as Board Chairman will be James C. Henderson who has been affiliated with Mercer County State Bank since 1987. A life time local resident and a retired engineer, Mr. Henderson previously was on the Board of the First National Bank of Stoneboro which merged with Mercer County State Bank in 1990.
New products and services were also introduced in 2003. Three new ATM locations were added, including a new ATM at Walt’s Golden Dawn in Mercer. This will be a convenient location for our many Mercer customers who have asked us for this service. Internet Banking and Internet Bill Paying were introduced in June 2003 and both have been received very well by our customers. Internet Banking provides the customer with the capability to transfer funds between their Bank accounts, make loan payments, get account statements and even get copies of their checks directly from their personal computer - all at no additional charge. Internet Bill Payer enables customers to pay all their household bills also directly from their personal computer – no checks to write, no envelopes and no stamps to buy.
Additional products and services added in 2003 were a mortgage loan tax and insurance escrow service, commercial equipment leasing available directly from the Bank’s business lenders and additional lending staff was added for business loans and residential mortgages.
2004 will also bring more new services and products to better serve our customers. New deposit products will be introduced early in the year as well as expanded business and consumer loan products. Technology improvements are also planned throughout the Bank to provide faster and more comprehensive services to all customers.
Ray J. Kaltenbaugh, President and CEO of Mercer County State Bank, has announced the retirement of Director and Chairman of the Board, Robert A. Kaltenbaugh. Robert started in 1963 as a Director of Mercer County State Bank. In 1995 he was appointed Chairman of the Board; a position that he held until his retirement in December 2003. Robert is the retired owner of Walker Chevrolet, Inc. in Sandy Lake. He currently serves on the Houghton College board of Houghton, New York, past president of the Sandy Lake Borough Council, past president of the Sandy Lake Rotary Club, and various local and district church boards. Mr. Kaltenbaugh has contributed to the development of many business projects in the Sandy Lake area. Mr. Kaltenbaugh and his wife, Jean, reside in Sandy Lake.
James C. Henderson has been appointed to serve as Chairman of the Board of Directors of Mercer County State Bank. Mr. Henderson is a graduate of Grove City College where he received his Professional Engineer’s License. Mr. Henderson also served as an Air Force navigator in World War II with a rank of 2nd Lieutenant. He has served as past president of the Lakeview School Board, is on the Board of Directors for the Stoneboro Fair, a member and past president of the Stoneboro Lions Club, and currently serves on the Board of Directors for Mercer County Historical Society, as well as, the Board of Directors at Mercer County State Bank. Mr. Henderson and his wife, Nancy, reside in the Stoneboro area.
Joseph C. Paparone II has been appointed to serve as Director on the board at Mercer County State Bank. Mr. Paparone is a CPA and serves as the Partner in Charge of the Grove City office of McGill, Power, Bell & Associates, LLP. His practice included specializations in the Nonprofit and Governmental auditing, while also providing consulting service to privately-held companies. Mr. Paparone is a former member of the Board of Directors of the Grove City Area Chamber of Commerce, and has served on the Executive Committee of the Northwest Pennsylvania Chapter of the Pennsylvania Institute of Certified Public Accountants. Mr. Paparone resides in Grove City with his wife, Stacy, and his two children, Elizabeth and Nicholas.
On April 1, 2002 our President, Glenn Snyder retired after 40 years of service to Mercer County State Bank. His contributions to the bank and its progress into the 21st century are greatly appreciated. Glenn was instrumental in the branch expansion the bank entered into during the mid 90's, as well as, many other areas of growth.
Upon Glenn's retirement, chief executive officer Ray Kaltenbaugh was promoted to President and CEO. Ray has been with the bank since 1969 and has been CEO since April of 2000. As CEO, Ray was in charge of the bank's operations during that time and the transaction was then a very smooth process.
Regardless of the change in leadership, the bank still plans to remain an Independent Community Bank as it has been since 1911. The bank did not add any new branches in 2002, but a drive-through ATM was added to our Fredonia office in late 2002. We have nine retail branches along with a data center and loan center. The bank employed 90 full time persons at the end of 2002. Our total assets were over 239 million at year end, which was a 9 percent increase over 2001. Deposits grew approximately 6 percent for the year. Loan growth was minimal as the bank completed its first year of selling mortgages through the secondary market using the Federal Home Loan Bank.
The bank continues to directly service all mortgages, including those sold. (This means our mortgage customers will always be dealing directly with Mercer County State Bank when they make their payments, as well as, if they should have questions.) Using the Federal Home Loan Bank program allows the bank to be competitive in offering a wide range of mortgage products to meet all the needs of our customers.
Our TeleBanc service handled over 30,000 calls in the month of December as compared to 8,100 calls in December of 1998. Its usage has continued to increase almost every month. Plans for the coming year include introducing Internet banking with a bill paying option to our checking account customer very early in the second quarter. We also plan to offer escrowing to our new mortgage customers sometime in the third quarter and to existing mortgage customers sometime after that.
We are looking forward to 2003 as a year in which the economy begins to improve locally as well as nationally.
Mercer County State Bank is pleased to announce the opening of their ninth office, located in Cambridge Springs, this office joins the Cochranton Office and Meadville Mall Office to became the third location in Crawford County. Grand Opening Celebrations are being held May 7 - 12.
Stop by our new office and visit with the friendly staff. We're looking forward to this new relationship - doing what community banks do best - making a difference in our community.
Mercer County State Bank of Sandy Lake, Pa. has agreed to purchase Mellon Bank's Cambridge Springs office, located in Crawford County, Pennsylvania.
The acquisition will be the ninth branch office of Mercer County State Bank and third in Crawford County, the others being in Vernon Township and Cochranton.
This agreement is subject to regulatory approval by the State Banking Department and The Federal Deposit Insurance Corp. Closing is expected to occur in the second of quarter of 2001.
Ray Kaltenbaugh, Chief Executive Officer of Mercer County State Bank, states that the branch in Cambridge Springs is a natural extension of our banking area and is a key acquisition in the bank's plans for continued growth. Mr. Kaltenbaugh also stated that all present employees of the Cambridge Springs office will be offered the opportunity to participate in establishing Mercer County State Bank's presence in the community.
Mercer County State Bank plans to open a branch at the former PNC office inside the Meadville Mall in Vernon Township.
"We've applied to the FDIC (Federal Deposit Insurance Corp.) and the state," said Glenn Snyder, Mercer County State Bank President. "We have to get approval from federal and state regulators. I can't really give a date, but we expect to be open in the second quarter. We have had many requests for a branch in the Meadville area. We intend it to be a full-service office. We have high expectations for it."
The office will have an ATM and plans to create a drive-in facility are being discussed. The office is expected to employ between six and ten workers when it opens.
The Meadville office will be Mercer County State Bank's eighth branch overall and its second in Crawford County. The other Crawford County branch is located inside the Market Place supermarket in Cochranton. However, the supermarket office will be replaced later this year with a freestanding office, which will be located along Franklin Street near the U.S. Post Office in Cochranton. The new Cochranton office will be a full-service office with three drive-in lanes.
|Recap of Year
Mercer County State Bank (MCSB) entered into an arrangement with Walnut Street Securities, Inc. in 2000 to provide customers with financial planning and investment opportunities. A licensed professional is now available to help customers plan a strategy to meet their personal financial objectives. A broad range of investment products and services is available including estate planning, trust services, mutual funds, annuities, insurance, common stocks and full brokerage services. Appointments can be arranged through any MCSB office to provide customers with an investment professional to help them with their personal finances and investments.
2000 saw the remaking of the former restaurant in Sandy Lake into a loan-processing center for Mercer County State Bank. The Mortgage Processing Center opened in September 2000 for the processing of loan documentation and home for the Secondary Market Mortgage Department. Centralization of processing, as well as specialization within the mortgage department will provide customers with better service and additional mortgage products.
A new product introduced in 2000 was the Business Advantage
Account - a comprehensive business package that enables smaller businesses to take
advantage of certain discounts and services. Equipment Leasing, Investment Sweep
Accounts, SBA Loans, Insurance Products, a Toll Free Call Center as well as discounts on
long distance phone service, office products, check orders and much more are available to
help the business owner save time and money.
Recap of Year 1999