The Victory Bank in the News 2015

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Wednesday, January 21, 2015

Joint Company Release – January 21, 2015


HUNTINGDON VALLEY AND LIMERICK, PA -- (MARKET WIRE) – 1/21/15 – Huntingdon Valley Bank (“HVB”) and The Victory Bank (“Victory”) today announced the termination of their agreement to merge and that they have withdrawn the joint application for regulatory approval to merge that had been filed with the FDIC in May 2014. The proposed transaction contemplated the conversion of HVB from a mutual to stock institution and the simultaneous merger of Victory with and into HVB. 


Due to policy concerns regarding mutual conversion/mergers that were raised by the FDIC staff during its review of the joint application, the FDIC last week indicated that it would not accept an updated joint application for further processing.


In announcing the withdrawal, Joseph W. Major, Chairman of the Board of Victory stated, "The transaction with Huntingdon Valley made good sense. No concerns about the safety and soundness of either bank or about the business merits of the proposed merger were ever raised by the FDIC during its review. It was designed to combine two banking companies of similar size in the same county with complementary business offerings and also raise a significant amount of new capital, creating a better, stronger and more competitive bank that could continue our traditions of local community based lending and services. However, it appears that conversion/mergers are still problematic.” 


Travis J. Thompson, President and Chief Executive Officer of Huntingdon Valley Bank said, "Our board entered into the transaction with Victory after carefully considering all of our other options, and believed that we had found the right partner, and the best means to build a better, stronger bank, and to provide our depositors with the best available investment opportunity as we converted our mutual bank to public form. We are most disappointed that we will not be able to proceed forward with Victory, and wish them only the best.”


Huntingdon Valley Bank was advised by Griffin Financial Group LLC and the law firm 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, 2014, Huntingdon Valley Bank had total assets of $167.4 million, total deposits of $143.1 million, and total equity of $11.0 million. Additional information about Huntingdon Valley Bank is available on its website, 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, 2014, The Victory Bank had total assets of $153.2 million, total deposits of $127.3 million, and total equity of $13.3 million. Additional information about Victory Bancorp is available on its website, 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 words 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 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. 


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

Tuesday, February 17, 2015

 

The Victory Bank Announces New Hire and Promotion


The Victory Bank has hired Alex Kroll as Senior Vice President, Senior Commercial Relationship Manager and has named Danae Soley Loan Document Specialist. 


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, July 22, 2015

 

 INDEPENDENT COMMUNITY BANKERS OF AMERICA NAMES THE VICTORY BANK AS ONE OF THE TOP 50 LOAN PRODUCERS IN THE COUNTRY 


 The Independent Community Bankers of America (ICBA) ranked The Victory Bank the 6th top loan producer in their July 2015 issue recognizing all of the top loan producers in the country. 


The ICBA recognizes the top loan producers in four key categories; top 100 overall producers, top 50 commercial loan producers, top 50 consumer loan producers, and top 50 agricultural loan producers. Each of these categories is divided by asset size; those banks with $500 million and assets and more, and those banks less than $500 million in assets. The Victory Bank was named 6th top loan producer of all banks with less than $500 million in assets in their July 2015 issue. The Victory Bank ranked number 1 on the East Coast despite having only one branch; proving that doing what you promise and delivering an exceptional client experience can go a long way in a very competitive environment. 


The ICBA is quoted as saying; "No community bank can be successful- for its customers, communities and shareholders- without safely turning people's deposits into valuable and productive credit for others. Invariably, the most successful community banks are those that consistently book the most solid loans. And that means winning the most business from borrowers in a marketplace rife with competitors."

If your business is looking for a commercial mortgage, a business loan or line of credit, please contact one of our expert commercial lenders at 610-948-9000


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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Wednesday, September 30, 2015


The Victory Bank Announces Promotion and Graduation - Rivkin

(LIMERICK, Pennsylvania) — Saul S. Rivkin, Senior Vice President-Chief Retail Officer, The Victory Bank, recently graduated from the American Bankers Association Stonier Graduate School of Banking and the Executive Leadership Program at The Wharton School of Business in Philadelphia, PA.

Stonier is ABA’s national graduate school of banking, an intensive three-year program for banking executives and The Wharton School is world-renowned for its academic strengths. Students from the United States and international banks of all sizes, as well as state and federal regulatory agencies and other financial services organizations, complete extensive projects and coursework while on the job. They also attend a residency session each year on the Wharton campus held at the University of Pennsylvania.

Rivkin was later recognized for his exemplary contributions to The Victory Bank and was promoted to Senior Vice President.


 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 21, 2015


The Victory Bank Announces Director Johnson Named Delaware Valley's Engineer of the Year


(LIMERICK, Pennsylvania) – Kevin L. Johnson, Director of The Victory Bank and of Victory Bancorp has been named Delaware Valley’s Engineer of the Year


On Tuesday, November 10, delegates from Delaware Valley engineering-related technical societies and several past Engineers of the Year gathered for the annual Engineer of the Year election. Engineer of the Year is a prestigious annual award presented by the Engineer's Club of Philadelphia. The award recognizes an individual who has pursued a career of achievement and leadership, is a person of stature and visibility, represents the engineering profession well and proudly acclaims its virtues. During this assembly, Kevin L. Johnson, P.E., President of Traffic Planning and Design, Inc. (TPD), an award-winning transportation engineering firm with eight offices serving the Mid-Atlantic Region, was elected the 2016 Delaware Valley Engineer of the Year. 


Mr. Johnson will be honored during Delaware Valley Engineers Week, Feb. 19-27, 2016, which is part of a national engineering observance.


Mr. Johnson’s support was overwhelming, as he was nominated by several industry organizations including: the American Society of Highway Engineers (ASHE) Delaware Valley Chapter, the American Society of Civil Engineers (ASCE) Philadelphia Chapter, the Pennsylvania Society of Professional Engineers (PSPE) Delaware County Chapter, and Women in Transportation (WTS) Philadelphia Chapter. Upon learning of his selection, Mr. Johnson said “it is truly humbling to be so honored.”


The Victory Bank is a locally owned and operated commercial bank headquartered in Limerick, Montgomery County, 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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