The Victory Bank in the News 2012

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Thursday, January 05, 2012


Lee Named Vice President - Credit Department Manager 


Deborah A. Lee recently joined The Victory Bank to serve as Vice President and Credit Department Manager. In her new position, Lee will be responsible for management of the bank's credit underwriting function supporting all aspects of lending.

Lee most recently served as Senior Credit Analyst/Assistant Vice President at National Penn Bank. A resident of Royersford, Lee is a graduate of St. Pius X High School, Pottstown, Pennsylvania. In addition, she has taken classes at Montgomery County Community College, Institute of Financial Education and The Risk Management Association.

Lee is a volunteer with the Tri-County Performing Arts Center, YWCA Tri-County Area, Ken-Crest Employment, Big Brothers Big Sisters, Miller-Keystone Blood Center and the American Cancer Society Relay For Life.


The Victory Bank is a locally owned and operated commercial bank headquartered in Limerick, Pennsylvania. The bank was founded to optimize the financial lives of businesses, professionals and consumers. For more information, call 610-948-9000 or visit www.victorybank.com.

PRESS RELEASE

Monday, June 04, 2012


The Victory Bank to Host KenCrest ArtWorks Event on June 13 

The Victory Bank is honored to host KenCrest's ArtWorks event on June 13 from 6 - 8 p.m. Exhibited pieces will showcase the talents of individuals with development disabilities and will be available for purchase. The extraordinary artists will receive payment for their artwork. The public is invited to attend. 


The Victory Bank is a locally owned and operated commercial bank headquartered in Limerick, Pennsylvania. The bank was founded to optimize the financial lives of businesses, professionals and consumers. For more information, call 610-948-9000 or visit www.victorybank.com.

PRESS RELEASE

Monday, July 23, 2012


The Victory Bank Names Major Credit Analyst 


The Victory Bank has named Benjamin Major Credit Analyst. In his position, Major is responsible for underwriting commercial loan requests. A resident of Chester Springs, he is a summa cum laude graduate of Indiana University of Pennsylvania, Indiana, Pennsylvania where he earned a Bachelor of Science degree in Finance.


The Victory Bank is a locally owned and operated commercial bank headquartered in Limerick, Pennsylvania. The bank was founded to optimize the financial lives of businesses, professionals and consumers. For more information, call 610-948-9000 or visit www.victorybank.com.

PRESS RELEASE


Monday, July 23, 2012


The Victory Bank Names Soley Loan Operations Clerk 


In her position as Loan Operations Clerk, Danae Soley is responsible for processing loan requests. A resident of Pottstown, she is a graduate of St. Pius X High School, Pottstown, Pennsylvania.  


The Victory Bank is a locally owned and operated commercial bank headquartered in Limerick, Pennsylvania. The bank was founded to optimize the financial lives of businesses, professionals and consumers. For more information, call 610-948-9000 or visit www.victorybank.com.

PRESS RELEASE

Wednesday, October 24, 2012


Consumer Confidence Rising Despite Political Rhetoric 


"If you get your economics from a politician, you get the economy you deserve," said Dr. Joel Naroff, President and Founder of Naroff Economic Economic Advisors, a strategic economic consulting firm, who recently made a presentation on the economy to the Advisory Board and employees of The Victory Bank. "If you listen to the politicians, we are ready to crash and burn yesterday, or from the other side, "happy days are here again. But from my perspective the economy is changing for the better and as a consequence, I am optimistic about the future."


Dr. Naroff offered three main reasons to be optimistic about the economy: The single most important thing that has really changed is the consumer. Consumer confidence has been rising fairly consistently. "Why is consumer confidence rising despite a 7.8% unemployment rate? The single most important factor is job security" Naroff explains. "For the last 5 years people have walked into their companies and worried that they would not have a job at the end of the day and therefore didn't spend money. That has changed now. Businesses may not be hiring but they no longer are firing either. With layoffs down, the fear of losing their job has decreased. As a result, consumers are confident and they are spending money."


According to an October 15 Commerce Department report, retail sales jumped 1.1 percent last month, producing the best two months of sales in two years. Retailers made gains in almost every major category. Sales of electronics and appliances in September swelled to 4.5 percent, in part because of iPhone sales. Sales at auto dealers increased 1.3 percent, the highest in four and half years. Consumer spending is critical because it drives nearly 70 percent of economic activity.


The second reason to feel optimistic about the economy is the housing market. "When the housing crashed it took our economy with it. Housing is incredibly important and economists estimate that for every housing start you get about two and half jobs created. It may not seem like a lot but we will likely increase housing starts by over 175,000 units by the end of the year. That could have supported upwards of a half a million new jobs right there," said Naroff.


The third reason is the finance sector. "The finance sector is healthier and is starting to make money again and banks are making loans at a better pace then a few years ago,' said Naroff.


But it will take time before real solid growth returns. Naroff explains, "The important thing is the weakest sectors are healing and the economy is starting to pick up speed. But the biggest impediment to growth is Washington." The business community is not hiring as many people as it would and they have cut back on spending because they are not sure what tax increases and sharp government spending cuts will come next year if Congress fails to reach a deal to avoid the so-called fiscal cliff. Most business surveys suggest that once the fiscal cliff issue is resolved, businesses will start hiring and investing, consumer confidence will rise and economic growth should increase regardless of the election results.


Joel L. Naroff, Ph.D. is a nationally recognized economic forecasting expert and has received numerous honors. In 2011 he received the National Association for Business Economics Outlook Award as the top economic forecaster. In 2008 he was awarded the Lawrence Klein Award for Blue Chip forecasting excellence. In addition he was named the Bloomberg Business News 2008 top economic forecaster. He was the first independent economist to win the CBS MarketWatch Economist of the Month Award.


An accomplished public speaker, Dr. Naroff is often quoted in the national press, including Business Week, The Wall Street Journal, The New York Times, USA Today, Financial Times and Newsweek. He appears frequently on CNBC, Fox Business News and Bloomberg Television in addition to appearing on ABC's World News Tonight, The Wall Street Journal Report with Maria Bartiromo and The News Hour with Jim Lehrer. For more information, visit www.naroffeconomics.com


The Victory Bank is a locally owned and operated commercial bank headquartered in Limerick, Pennsylvania. The bank was founded to optimize the financial lives of businesses, professionals, and consumers primarily in Montgomery, Chester and Berks Counties. For more information, call 610-948-9000 or visit www.victorybank.com

PRESS RELEASE



Thursday, November 08, 2012


The Victory Bank Names Benson Banking Center Representative 


Sarah Benson joined The Victory Bank to serve as Banking Center Representative. In her new position, Benson will assist clients in achieving their short and long term financial goals.

Benson's financial experience includes serving as a Retail Banker at Woodforest National Bank, Hatfield, Head Teller at Univest National Bank, Plumsteadville, and Teller/Customer Service Associate at PNC Bank, Buckingham. Benson resides in Quakertown, Pennsylvania.


The Victory Bank is a locally owned and operated commercial bank headquartered in Limerick, Pennsylvania. The bank was founded to optimize the financial lives of businesses, professionals and consumers primarily in Montgomery, Chester and Berks counties. For more information, call 610-948-9000 or visit www.victorybank.com.

PRESS RELEASE

Monday, December 03, 2012


The Victory Bank Opens Loan Office in Wyomissing

 

The Victory Bank has announced the opening of a loan office in Wyomissing, Pennsylvania that will be led by Tony D'Antonio, SVP-Commercial Relationship Manager and Laurie A. Kercher, VP - Commercial Relationship Manager. The loan office is located at 200 Spring Ridge Drive, Suite 206, Wyomissing, PA 19610. Hours are by appointment only by calling 610.478.4090.


"We are excited about increasing our focus on growth in the Berks County market. We feel strongly about our bank's success with Tony and Laurie's leadership. They bring a wealth of knowledge and experience. By living and working in Berks County for many years, they understand and are committed to the financial needs of local businesses," states Rich Graver, President and Chief Lending Officer of The Victory Bank.


Tony D'Antonio joined The Victory Bank in May 2011 and is a Senior Vice President - Commercial Relationship Manager. He formerly served as Vice President, Commercial Loan Officer for NOVA Bank, Exton and Wyomissing, PA and Vice President, Small Business Banker and Vice President, Senior Regional Team Leader for Susquehanna Bank, Wyomissing, PA. A resident of Exeter Township, he is a graduate of Kutztown University, Kutztown, Pennsylvania, where he earned a Bachelor of Science degree in Business Administration. Tony is involved in the Berks County Chamber of Commerce, Reading Berks Commercial Industry Council, and is a member of the Exeter Township Economic Development Advisory Council.


Laurie A. Kercher has twenty years of financial experience in the Berks County market. Most recently she served as Assistant Vice President - Commercial Lending for Vist Financial Corp., Wyomissing, Pennsylvania. A resident of Reading, Laurie is a graduate of Elizabethtown College, Elizabethtown, Pennsylvania. In addition, she is a board member of Opportunity House, member of the West Reading Wyomissing Rotary, member of Altrusa International, Vice Chairperson of the Spirit of Scouting Breakfast Committee and member of the Prospectus Berco Golf Committee.


The Victory Bank is a locally owned and operated commercial bank headquartered in Limerick, Pennsylvania. The bank was founded to optimize the financial lives of businesses, professionals and consumers primarily in Montgomery, Chester and Berks counties. For more information, call 610-948-9000 or visit www.victorybank.com.

PRESS RELEASE

Friday, December 28, 2012

 

Bergquist Appointed to Statewide Advisory Committee 


Joseph D. Bergquist, Vice President - Commercial Relationship Manager, has been appointed to the Pennsylvania Bankers Association (PBA) Lending Advisory Committee. As part of the Government Relations Council of the Association, the advisory unit will review and recommend proactive legislation in respective areas, on behalf of member banks, to Government Relations Policy Committee. Bergquist will serve a 2-year term starting January 1, 2013. 


The Victory Bank is a locally owned and operated commercial bank headquartered in Limerick, Pennsylvania. The bank was founded to optimize the financial lives of businesses, professionals and consumers primarily in Montgomery, Chester and Berks counties. For more information, call 610-948-9000 or visit www.victorybank.com.

PRESS RELEASE