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Centre1st Bank, a division of Old Dominion National Bank, plans to open its first full-service branch in State College by early 2019

14 November 2018

Centre1st Bank Opening First Full-Service Branch in Central Pennsylvania

 

-- New State College-based bank Centre1st, a division of
Old Dominion National Bank, to open first branch by early 2019 --

 

STATE COLLEGE, Pa. — November 14, 2018 — Centre1st Bank, a division of Old Dominion National Bank, plans to open its first full-service branch in State College by early 2019.

Created by and for Central Pennsylvanians, Centre1st recently received regulatory approval to open a branch at 1276 North Atherton Street. 

“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.  “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.”

More than 150 individual shareholders from the State College area have invested about $25 million in Centre1st’s parent company, Old Dominion National Bank, where Infield also serves as Senior Executive Vice President. He joined the Tysons Corner, Va., company in 2016 to partner with President and Chief Executive Officer Mark Merrill to reposition and build a regional community bank with employees, shareholders, customers and branches in Central Pennsylvania, Metropolitan Washington, D.C. and Virginia. Since then, the bank has raised a total of nearly $69 million in new capital, with more than a third invested by shareholders from the State College area.

Infield is a lifelong State College resident with more than 35 years’ experience working in leadership and regional president positions with PNC, Waypoint Bank, Graystone Bank and Ameriserv Bank in Central Pennsylvania.  Active in the community, Infield is also president of the Centre Child Advocacy Center Board and the Centre County Industrial Development Authority, and a member of the Centre County Community Foundation and the Penn State Renaissance Fund boards.

Other Centre1st team members based in State College include: Assistant Vice President, Retail Manager Cindy Conron; Vice President, Residential Lending Travis Corkery; Vice President, Commercial Lending Eric Kraytz; and Executive Assistant Jerilinn Stewart.

Three non-executive members of the board of directors of Centre1st’s parent company -- Daniel M. Harrington, Charles C. Pearson and Robert E. Poole, Jr. -- also have strong connections to the State College area.

Before reuniting to lead Old Dominion and its Centre1st division, many of the company’s leaders worked together previously to build successful Central Pennsylvania banks. For example, current board member Pearson was CEO of $5-billion-asset Waypoint Bank, where Infield, Merrill and Old Dominion Chief Operating Officer Howard Stein served before joining the leadership team of what was a new “de novo” institution, Graystone Bank, which they grew to nearly $3 billion in assets from 2005 to 2012.

“We are very pleased to be entering the State College market so strategically and with such momentum, thanks to the efforts of Jack and the entire Centre1st team,” Merrill said. “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.”

Centre1st’s new branch in Penn State University’s hometown is expected to open for business by the first quarter of 2019.  The bank also offers a comprehensive suite of online and mobile banking services for customers.

 

Centre1st Bank, a Division of Old Dominion National Bank

Centre1st was created by and for Central Pennsylvanians. With a dedicated team of experienced local bankers in State College, Pa., and a full-service branch scheduled to open there in early 2019, the bank offers a full range of commercial and consumer financial services to communities throughout Central Pennsylvania.  Centre1st Bank is a division of Old Dominion National Bank, an independent community bank with more than $250 million in assets and locations in Pennsylvania and Virginia.