The Victory Bank in the News 2013

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Friday, February 01, 2013

 

Graver Completes PBA Executive Leadership Program 


Richard L. Graver, President and Chief Lending Officer of The Victory Bank, headquartered in Limerick, Pennsylvania, completed the Pennsylvania Bankers Association's Executive Leadership Program, at the Hotel Hershey, Hershey, Pennsylvania.

The Executive Leadership Program is a fifteen (15) month leadership development program designed to actively enhance the leadership, organizational and performance skills of highly motivated executive and senior management level bankers. The program establishes a network of future bank leaders who understand the complexities of being a CEO and can respond to local and national issues impacting the banking industry and their communities.

The Pennsylvania Bankers Association, located in Harrisburg, Pennsylvania, is the state's major banking trade association representing an expansive and diverse membership. The Association offers extensive continuing education programs, government relations representation on behalf of the industry, and provides numerous products and services for banks and their employees.


 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, May 01, 2013

The Victory Bank Announces Promotions and New Hires


The Victory Bank has named Shelly Stockmal, Leader of Human Resources Development; Jennifer Gilbert, Assistant Branch Manager; Kelly Taylor, Executive Assistant; and Jodi Moore, Administrative Assistant. 


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

Friday, July 05, 2013


The Victory Bank Announces Promotions


The Victory Bank has named Christine E. Gray, Staff Accountant and Human Resources Administrator and Mary Locricchio, Consumer Lending and Banking Center Representative.


Gray formerly served as Staff Accountant at The Victory Bank. A resident of Chester Springs, she is a graduate of West Chester University where she earned a Bachelor of Science degree in Business Management. In addition, Gray served as a board member and secretary of her Homeowners Association and is a former volunteer of the Main Line Animal Rescue League.


Locricchio formerly served as Banking Center Representative at The Victory Bank. She is a resident of Pottstown, PA.


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

 

Sunday, July 28, 2013

 

Independent Bank Names The Victory Bank As One Of The Top Loan Producers In The Country


Independent Banker named The Victory Bank as one of the Top 50 Loan Producers in the country in their July 2013 issue. The designation was based on ICBA member banks with the highest percentage of total loans to overall bank assets in 2012.


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.

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Thursday, October 17, 2013

 Swearer Named Vice President, Commercial Relationship Manager of The Victory Bank 


Jon G. Swearer recently joined The Victory Bank to serve as Vice President, Commercial Relationship Manager. In his new position, Swearer will analyze commercial clients' financial situations and develop strategic solutions to meet their short and long term goals.

Swearer formerly served as Relationship Manager at National Penn Bank. In addition, he served as Small Business Lending Group Manager, Commercial Credit Analyst, and Community Office Manager.

A resident of Spring City, he graduated with a Bachelor of Arts degree and department honors in History and a minor in English from Ursinus College. In addition, he is past president and current board member of the Kiwanis Club of Pottstown.


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, November 11, 2013

 

The Victory Bank Hosts KenCrest's ArtWorks Event Featuring Artists with Intellectual and Developmental Disabilities 


The Victory Bank will host KenCrest's ArtWorks event on Wednesday, November 20 from 6-8 p.m. at The Victory Bank. The public is invited to attend the art exhibit featuring the artistic talents of individuals with intellectual and developmental disabilities. All exhibited pieces will be available for purchase and will benefit the artists directly.

ArtWorks art exhibit is made possible through a multi-part grant project funded through the River Crest Foundation. KenCrest is in its 108th year and each year serves more than 8,000 children, youth, and adults with intellectual and developmental disabilities at 350 site locations in the five-county Philadelphia region as well as in Delaware and Connecticut. For more information, call 610.825.9360 or visit www.kencrest.org.


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, December 12, 2013

Huntingdon Valley Bank and The Victory Bank Announce Merger Pending Approval


Huntingdon Valley Bank (HVB) and The Victory Bank (Victory) announced today the planned conversion of HVB from a mutual to stock institution and the simultaneous merger with Victory. HVB's Board of Trustees unanimously adopted a Plan of Conversion and entered into a definitive agreement with Victory to merge the two entities upon completion of its capital raise. In connection with the Plan of Conversion and merger, HV Bancorp, Inc. (HV Bancorp), a newly formed Pennsylvania corporation to become the holding company of the merged banks, will offer shares of common stock in a subscription offering to eligible depositors of HVB. Remaining shares are expected to be for sale to the community and the general public in accordance with the Plan of Conversion and applicable regulations. The number of shares issued in the conversion offering will be based on an independent appraisal that is yet to be completed, at a price of $10.00 per share. The surviving subsidiary of HV Bancorp will be HVB and rebranded to The Victory Bank name. 


Pursuant to the transaction terms that are more fully described in the merger agreement, Victory common shareholders will receive 0.6794 of a share of HV Bancorp common stock for each share of Victory common stock they own or, if necessary, to ensure that Victory shareholders own no more than 48.5% of the combined company, a combination of cash and HV Bancorp common stock totaling $6.79 per Victory common share.


In announcing the transaction, Travis J. Thompson, President and Chief Executive Officer of Huntingdon Valley Bank said, "The conversion of Huntingdon Valley Bank provides our depositors the ability to benefit as shareholders, while the merger with Victory creates a more valuable company for our future shareholders. This transaction combines two complementary organizations, creating an institution with over $300 million in total assets and the scale and ability to grow profitably."


Joseph W. Major, Chairman of the Board of Victory stated, "The combination with Huntingdon Valley takes our organization to the next level and gives us the ability to continue our successes on a larger stage. I am thrilled to have found a partner in Huntingdon Valley who shares our vision and embraces our culture." 


Travis Thompson will serve as Executive Chairman and Joseph Major will serve as President and CEO of the combined company. Executive officers of the combined company will be selected from the executives of both Huntingdon Valley Bank and Victory. The combined board will be comprised of 7 members selected by Huntingdon Valley Bank and 6 members selected by Victory.


The merger is subject to the approval of Victory's shareholders, along with the completion of Huntingdon Valley Bank's conversion offering, which is subject to the approval of the depositors of Huntingdon Valley Bank. The transactions are also subject to the approval of bank regulatory authorities, as well as other customary conditions. The conversion offering and merger are expected to be completed in the second quarter of 2014 and will be consummated simultaneously.


Huntingdon Valley Bank was advised by Griffin Financial Group LLC and the law firm of Jones Walker LLP. Victory was advised by The Kafafian Group, Inc. and the law firm Kilpatrick Townsend & Stockton LLP.


About Huntingdon Valley Bank - Huntingdon Valley Bank is a community-based, full-service financial institution founded in 1871 and headquartered in Huntingdon Valley, Pennsylvania. Huntingdon Valley Bank offers a complete line of quality business and consumer banking products to customers in Bucks, Montgomery, and Philadelphia Counties, Pennsylvania, through its four full time branch offices and two special purpose locations. As of September 30, 2013, Huntingdon Valley Bank had a total assets of $158.7 million, total deposits of $136.2 million, and total equity of $10.5 million. For more information visit, www.huntingdonvalleybank.com


About Victory Bancorp - The Victory Bancorp, Inc. is the parent company of The Victory Bank, a Pennsylvania state chartered commercial bank, headquartered in Limerick, Pennsylvania. Victory Bank was established in 2008. Victory provides high quality banking services to small and mid-sized businesses and professionals through its two offices located in Montgomery and Berks Counties, Pennsylvania. As of September 30, 2013, The Victory Bank had total assets of $141.2 million, total deposits of $123.7 million, and total equity of $11.9 million. For more information, visit, www.victorybank.com


Forward-Looking Statements


This news release contains certain forward-looking statements. Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts. They often include works like "believe," "expect," "anticipate," "intend," "plan," "estimate," or words of similar meaning, or future or conditional verbs such as "will," "would," "should," "could" or "may." Forward-looking statements, by their nature, are subject to risks and uncertainties. A number of factors could cause actual conditions, events or results to differ significantly from those described in the forward-looking statements. Forward-looking statements speak only as of the date that they are made. Huntingdon Valley Bank and Victory do not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made or to reflect the occurrence of unanticipated events.


Additional Information About the Offering and the Merger 


The offering by HV Bancorp will be made only by means of a prospectus in accordance with the Securities Act of 1933, as amended, and all applicable state securities laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities. 


The proposed merger will be submitted to the shareholders of Victory for their consideration. HV Bancorp will file a registration statement, a prospectus, and other relevant documents concerning the proposed transaction with the Securities and Exchange Commission ( the "SEC"). Victory shareholders are urged to read the registration statement and the prospectus when it becomes available and any other relevant documents filed with the SEC, as well as any amendments or supplements to those documents, because they will contain important information. You will be able to obtain a free copy of the prospectus, as well a other filings containing information about HV Bancorp and Huntingdon Valley Bank, at the SEC's Internet site (http://www.sec.gov). Copies of the prospectus and the SEC filings that will be incorporated by reference in the prospectus can be obtained, without charge, by directing a request to Huntingdon Valley Bank, 3501 Masons Mill Road, Suite 401, Huntingdon Valley, PA 19006.


Contacts:


Travis J. Thompson, Esq.

President and Chief Executive Officer

Huntingdon Valley Bank

3501 Masons Mill Road

Suite 401

Huntingdon Valley, PA 19006

267-280-4000


 Joseph W. Major

Chairman of the Board

Victory Bancorp, Inc.

548 North Lewis Road

Limerick, PA 19468

610-948-9000 


press release