Peoples Security Bank and Trust
Our History
Peoples Security Bank & Trust Company was established in 1905 as the First National Bank of Hallstead located in Hallstead, Pennsylvania. In February 1965, First National Bank of Hallstead merged with the Hop Bottom Bank to form Peoples National Bank (PNB) of Susquehanna County. In 2010 Peoples National Bank completed a transition to a Pennsylvania State Banking charter resulting in a new name, Peoples Neighborhood Bank.
Penn Security Bank & Trust Company was established in 1902. In April 2009 the bank merged with the Old Forge Bank to create one of the strongest community banks in Northeastern Pennsylvania.
In December 2013, Peoples Neighborhood Bank and Penn Security Bank & Trust Company merged to create Peoples Security Bank & Trust Company. The merger strengthened the bank’s presence in Northeastern Pennsylvania resulting in a branch network of 26 locations throughout Northeastern Pennsylvania and New York.
In April 2014 Peoples Financial Services Corp., the holding company of Peoples Security Bank & Trust Company, began trading on the NASDAQ Stock Market under the ticker symbol “PFIS”.
In December 2014, the bank expanded into the Lehigh Valley and opened its first branch on Airport Road in Bethlehem. In December 2015, the bank extended its footprint into the Greater Delaware Valley with a Loan Production Office in King of Prussia. To better serve their customers, this office transitioned into a full-service branch location in December 2016.
In August 2016, the bank expanded its presence in Luzerne County with the opening of a new branch in Kingston. The bank’s expansion continued during 2017 by adding two additional offices to the Lehigh Valley branch network at Emrick Boulevard in Bethlehem Township and Tilghman Street in Allentown. Most recently, the bank expanded into both the Central PA and Greater Delaware Valley markets with offices in Lebanon in 2019 and Doylestown in 2020, respectively.
As of today, Peoples Security Bank & Trust is one of the largest independent community banks in eastern Pennsylvania. With a footprint stretching from suburban Philadelphia to Binghamton, New York, Peoples Security Bank and its 26 full-service branches serve Bucks, Lackawanna, Lebanon, Lehigh, Luzerne, Monroe, Montgomery, Northampton, Susquehanna and Wyoming counties in Pennsylvania, and Broome County in New York. Each office offers a wide range of financial products and services to individuals, businesses, not-for-profits, and government entities.
Holiday Window Décor
o For more than a decade, we’ve been decorating the windows of our Corporate Headquarters in downtown Scranton for the holiday season. In a similar spirit of the memorable holiday windows at the Globe Store years ago, we decorate each year with various themes ranging from nostalgic, whimsical, traditional and festive. Over the past 4 years, we’ve also expanded this tradition to the windows at both our Old Forge and Tunkhannock branches.
Community Outreach
o Peoples Security Bank is more than a financial institution in the communities we serve; we are a part of them as well. We are always looking at the needs of our customers and how we can exceed their expectations as we continue to make enhancements while maintaining our hometown values.
o Earlier this year, Peoples Security Bank pledged over $40,000 to support healthcare workers and regional communities within PSBT’s Pennsylvania-based footprint grappling with the impact of the COVID-19 pandemic. This specialized program enacted by PSBT focused on providing goodwill aid specifically to the healthcare workforce, as well as donations to address food stability to vulnerable, at-risk populations.
Peoples Security Bank donated over 1,200 meals from area restaurants, many of which are current customers of the bank, to ten hospitals across the Commonwealth. Approximately 120 frontline providers from each hospital - expanding its reach from Bucks County to Susquehanna County - received a lunch or dinner, complimented by a special message of encouragement and appreciation for their selflessness and commitment to their patients. COVID-19 has disrupted the global stage and its players in innumerable ways, leaving many individuals, families, and businesses facing unanticipated and devastating obstacles in its wake. “At Peoples Security Bank, our primary concern has and will continue to be taking immediate, actionable steps to unwaveringly support our customers, our communities, and our heroic healthcare workers and first responders who have risen to the occasion for all they have done to keep us healthy and protected,” stated Neal Koplin, Senior Executive Vice President and Chief Banking Officer.
In addition to the delivery of meals to frontline workers and a recent $10,000 donation to the Greater Easton Development Partnership, charitable monetary gifts totaling more than $15,000 were disbursed to twelve food banks in need in our area.
o For the past 3 years, Peoples Security Bank & Trust committed over one million dollars as part of the Educational Improvement Tax Credit (EITC) Program. The donations are administered through Commonwealth Charitable Management and are used to award scholarships and grants to numerous schools, colleges and organizations within the bank’s market area. During 2019, over 650 scholarships were issued to 36 local schools. Grants were also awarded to 41 organizations and school districts in support of Educational Improvement Projects. Peoples Security Bank funded the program costs of the EverFi Financial Literacy Program that is currently offered to 20 local high schools.
NASDAQ
o Peoples Financial Services Corp., the holding company of Peoples Security Bank & Trust Company, began trading on the NASDAQ Stock Market on April 2, 2014 under the ticker symbol “PFIS”.
EVERFI Program
o At Peoples Security Bank, it is our firm belief that if we can better educate the students of today, then they will become the financially responsible citizens of tomorrow. These students are our future consumers and our future leaders. The more we can do to help them grow and prosper, the more our country will benefit, and the more the financial services industry will benefit.
A recent FINRA study found that students who received rigorous financial education in high school saw increased credit scores and decreased chance of credit delinquency as young adults compared to their peers who did not receive financial education. Until recently, personal finance was not a priority in schools. Peoples Security Bank recognizes that financial competency is an essential life skill. It is critical that students understand important aspects of personal finance like what a credit score means and how to save for college.
The Peoples Security Bank & Trust Scholars Program is an initiative to bring critical financial literacy education to participating school districts in our local communities. Peoples Security Bank & Trust has partnered with EverFi, Inc., the nation’s leading education technology company, to bring this interactive, web-based financial management program to high school students at no cost to the schools or taxpayers.
Powered by EverFi technology, the web-based learning platform uses the latest in new media technologies – video, animations, 3-D gaming, avatars, and social networking – to bring complex financial concepts to life for today’s digital generation. This 10-unit course offers 6-8 hours of programming aimed at teaching, assessing and certifying students in over 600 topics in financial education including credit scores, insurance, credit cards, student loans, mortgages, taxes, stocks, savings, 401k’s and other critical concepts that map to national financial literacy standards. The platform tracks knowledge gained as well as students’ attitudes and behaviors on these important issues. Students who successfully complete the course receive certification in Financial Literacy, a valuable mark of distinction on college applications and resumes.
Our Peoples Security Financial Scholars program empowers students with the skills that will put them on a path to financial success. And through the hard work and dedication of teachers whose passion is to enrich the lives of their students, this program helps students gain the critical skills necessary for a sound financial future and to make them successful throughout their lives.
To date, we have reached over 4,689 students across our footprint with our Peoples Security Bank & Trust Scholars Program. We are very proud to have reached so many students with critical financial education. It’s a testament of our deep commitment to our local communities. Our goal is to provide as many students as possible with access to this financial literacy platform before they graduate.