J. Eric Renner (left, 1st Summit Bank President and CEO) shakes hands with Colt McKelvey during the 1st Annual Summit Bank GH Miller & McKelvey Family Scholarship Presentation Provided Photo
JOHNSTOWN — As First Summit Bank celebrates its 100th anniversary, the Johnstown-based bank looks forward to a future of continued growth and expansion.
The bank was founded in Davrio in 1924 as Salix State Bank. In 1982 it became known as Summit Bank and in 1996 it became First Summit Bank.
The actual anniversary date is May 29th, but the bank will celebrate the anniversary on the weekend of May 24th.
“When you think about being here for 100 years, I think it's amazing considering it's becoming increasingly rare to be in business for that long. “The bank has weathered all of those storms well,” said President and CEO J. Eric Renner.
Renner said the bank's commitment and consistency to its customers has made a huge difference to many homes and businesses in the region. In his opinion, these characteristics point to continued “growth and success” for years to come.
First Summit Bank is a long-time supporter and member of the Pennsylvania Bankers Association, said Duncan Campbell, president and CEO of the association. He says he has benefited from it.
“While much has changed over the past 100 years, 1st Summit’s commitment to our customers, community, and industry remains the same. We are honored to have them as members and be a small part of their stories. ,” Campbell said.
Today, 1st Summit Bank provides retail and commercial banking, financial and investment services through 19 full-service community offices and loan origination offices located in Cambria, Westmoreland, Blair, Somerset and Indiana Counties. It offers.
1st Summit is best known for its personalized service.
“We have customers who trust our highly engaged employees.
We are quite flexible with both consumer and business slides. We have a convenient location and our digital platform is first-rate,” Renner said. “When you are a customer, you are not a number. We know you by your name.”
Renner said business loans are a big part of 1st Summit's offering and the bank is looking to expand its business arm in the coming years. Renner said the new offices in Altoona and Greensburg will be “very important” to that growth.
1st Summit is owned by 650 shareholders, most of whom are bank customers.The bank has assets such as
Renner said it was $1.3 billion.
What Renner feels is an asset to the region is the bank's active involvement in the community, with the first summit spending $480,000 in sponsorships and donations to approximately 375 organizations and charities. Stated. The bank's employees volunteer for a variety of organizations and activities in the local community.
In recognition of its work outside the bank’s walls, 1st Summit received Cumbria Regional Chamber’s Community Service Award in 2023.
“They're really good community managers. They encourage their staff to get involved in the community, they sit on a lot of committees, they participate in events that help the community. They financially support them. have been very generous with their support of the community. They are great partners and do so much for the community,” said Chamber President and CEO Amy Bradley. said.
Renner said 1st Summit first opened in Altoona in 2005 when it opened an office inside a Walmart store in Altoona and has grown to become the bank's fifth largest office.
1st Summit opened its second Altoona store in El Dorado in December.
“Our deposit share in Blair County is growing. We see good things happening in Blair County as we consider further involvement as we expand,” Renner said.
But Renner said caution is needed if the first summit expands.
“We see another branch on the horizon. We don't have a specific deadline, but we hope to find a convenient location with the right community pattern,” Renner said.
The theme for the anniversary year is “For the Community.” For Brighter Tomorrows — Celebrating banks' unique ability to engage with each community they serve and their role in helping families and businesses achieve a wide range of goals and dreams.
“We are excited to include our customers in this historic moment for First Summit Bank,” said Karen Mento, senior vice president and chief administrative officer. “Our celebration is not just about the past; it is a glimpse into the next 100 years as we continue to pioneer the future of banking and positively impact the lives of our customers and communities.”
Renner is optimistic about the bank's future.
“Our two newest offices have been growing well in just a few months. We need to ensure that the opportunities we have are strategically located rather than stacked on top of each other. “We need to focus on financial security and protect our customers. That's important in this day and age,” Renner said.
Mirror Staff writer Walt Frank can be reached at 814-946-7467.
