WEST CHESTER, PA — First Bank (NASDAQ: FRBA) announced that their newly relocated West Chester Branch will be managed by current branch manager and Chester County resident Jessica DiRocco.
DiRocco, who was born and raised in Chester County, has been a core team member of First Bank’s West Chester location since the community bank entered the market in 2018. On March 6, she will open the new, street-level West Chester location at 849 Paoli Pike. The new location will be a full-service branch that provides the benefits of a community bank, including a night drop, ATM, lot parking and a drive-thru for added convenience for retirees, families, small businesses, real estate investors and entrepreneurs. Additionally, the branch will be running special promotions on consumer and business accounts.
“We are happy to continue to provide relationship-based, personal banking to West Chester in our new and improved office space,” said First Bank President and CEO Patrick L. Ryan. “We think that having a more accessible building will enable us to better serve our customers and communities. Additionally, our team members, beginning with Jessica, know the area because they live here. That’s how personal bankers deliver community banking.”
Since opening in 2018, First Bank’s West Chester office has given back more than $180,000 to the community it serves. According to First Bank Regional President Joe Calabro, who lives in West Chester, the community bank has helped several area organizations, such as West Chester Food Pantry, Chester County Community Foundation, West Chester University Foundation and Greater West Chester Chamber of Commerce.
First Bank is also committed to supporting Main Street. When the business community needed help the most during the pandemic, First Bank helped provide nearly 2,000 small businesses with critical Paycheck Protection Program relief, totaling about $300 million to save jobs on Main Street.
Expanding Services for Business Owners
First Bank states that it continues to expand services to support entrepreneurs. The community bank has added resources for private equity groups and their portfolio companies to cover the full life cycle. More recently, the bank has introduced a new specialty financing group that offers asset-based lending, which helps business owners and entrepreneurs turn illiquid assets into more capital.
Supporting entrepreneurs is part of First Bank’s history. Ryan was part of an investment group that recapitalized First Bank with $20 million in late 2008. His vision was to build a community bank focused on providing best-in-class services and access to capital for business owners and entrepreneurs in the New York City to Philadelphia corridor. Based on its most recent quarterly filing, First Bank has $2.73 billion in assets. From year-end 2007, First Bank’s first year of operation, the bank has delivered a 41% compounded annual growth rate in total assets.
Ryan was awarded EY’s Entrepreneur of the Year 2022 New Jersey Award.
To learn more about First Bank, visit firstbanknj.com or firstbankpa.com.
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