TRADITIONS BANCORP, INC. YORK, Pa., Dec. 20, 2022 /PRNewswire/ -- Traditions Bank, a wholly-owned subsidiary of Traditions Bancorp (OTC Pink: TRBK), has announced plans to open the organization's second full-service branch in Lancaster County. Subject to customary regulatory approvals, the 2,625-square-foot office will be located at 2160 State Road in East Hempfield Township and anticipates serving customers in about a year.
"Twenty months after opening our first Lancaster location, we are delighted that our customized financial solutions and culture of service have been welcomed and embraced," shared CEO Eugene Draganosky. "We look forward to further expanding our presence in this compelling market."
Situated approximately five miles from the Traditions Bank branch at 1687 Oregon Pike which opened in April 2021, the highly visible State Road property offers convenient accessibility. The new building will sit next to Sheetz and across from the newly built Penn State Health Lancaster Medical Center, positioned between Harrisburg Pike and PA 283. After construction of the building, which should take approximately six months, a build-out of the branch will require an additional six months to complete.
In June 2020, banking veteran Thomas J. Sposito II joined the Traditions Bank team to lead its expansion efforts into the Lancaster marketplace. This September, Mr. Sposito was named President of Traditions Bank. "To be able to bring the values of a true community bank to the place I call home is a career dream," noted Sposito. "We are incredibly excited to grow our presence in the vibrant Lancaster community."
Michael Frey, another well-respected Lancaster banker, opened the Oregon Pike branch in 2021. Last month, the bank appointed Mr. Frey as President of the Lancaster Region and leader of its retail division across all markets. "I've long admired Traditions Bank for its ability to stay true to its mission of helping friends and neighbors make their mark," Frey stated. "To watch that mission come to life in Lancaster over the past year-and-a-half has been really fulfilling. This new branch will only enhance our ability to deliver on our brand promise."
The State Road branch will employ universal retail bankers, commercial bankers, and residential mortgage lenders, adding to its team of talented professionals who are dedicated to and engaged in the Lancaster community.
Formed in 2002 with administrative headquarters in York, Pennsylvania, Traditions Bank operates seven full-service branch offices located in York, Hanover, and Lancaster, as well as a loan production office in Lemoyne, Cumberland County. With assets of $773 million as of September 30, 2022, and 170 associates, Traditions Bank provides depository and borrowing services to businesses and individuals located in south-central Pennsylvania. The Bank is a leading provider of residential mortgages and has been a Bauer Financial recommended financial institution for more than a decade.
To learn more about Traditions Bank, visit www.traditions.bank.
This release contains forward-looking statements about Traditions Bancorp, Inc. that are intended to be covered by the safe harbor for forward-looking statements provided by the Private Securities Litigation Reform Act of 1995. Forward-looking statements are not historical facts. These statements can be identified by the use of forward-looking terminology such as "believe," "expect," "may," "will," "should," "project," "plan," "seek," "intend," "anticipate" or similar terminology. Such forward-looking statements include, but are not limited to, discussions of strategy, financial projections and estimates and their underlying assumptions; statements regarding plans, objectives, goals, expectations or consequences; and statements about future performance, operations, products and services of Traditions Bancorp.
Traditions Bancorp cautions readers not to place undue reliance on forward-looking statements and to consider possible events or factors that could cause results or performance to materially differ from those expressed in the forward-looking statements, including, but not limited to: ineffectiveness of the organization's business strategy due to changes in current or future market conditions; the effects of competition, and of changes in laws and regulations on competition, including industry consolidation and development of competing financial products and services; interest rate movements; difficulties in integrating distinct business operations, including information technology difficulties; challenges in establishing and maintaining operations in new markets; volatilities in the securities markets; and deteriorating economic conditions.
Forward-looking statements in this release speak only as of the date of this release and Traditions Bancorp makes no commitment to review or update such statements to reflect changes that occur after the date the forward-looking statement was made.
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SOURCE Traditions Bank
