Baltimore County Savings becomes First National Bank
Wednesday, 19 March 2014 10:51

Local bank purchased by Pennsylvania-based bank

by Ben Boehl

    If you have driven on Holabird Avenue lately, you may have noticed that Baltimore County Savings Bank (BCSB)  has become First National Bank (FNB).
    The change officially took place in mid-February, but news of the change first broke last June when FNB purchased BCSB Bancorp, Inc.
    BCSB was founded in the 1970s; branches were located across Baltimore County, and the bank later expanded to include other branches outside the county.
    FNB is headquartered in Hermitage, Pa., and made its way into the region last year when it purchased BankAnnapolis (Annapolis Bancorp, Inc).
    “We are focused on growing our Maryland market.  Our new regional headquarters will bring together a diverse team of products specialists who will work collaboratively to meet the needs of our clients,”  said Vincent J. Delie Jr., president and CEO of FNB.
 “Establishing a regional headquarters in downtown Baltimore demonstrates our commitment to support the local business community and to contribute to the city’s economic viability.”
    Whenever a corporate takeover occurs, there is concern that jobs could be eliminated on a local level, but Kathy Hammons, manager of  communications and public relations for First National Bank, said FNB will be hiring new workers and not laying off BCSB employees.
    “BCSB has been fully integrated as a part of First National Bank,”  Hammons said.
  

“Local employees who worked so hard to provide exceptional service will continue to serve our customers as before. First National Bank has also hired a number of local financial experts, and we expect to hire more as our business in the greater Baltimore area continues to grow.”
    Though FNB is based in western Pennsylvania, Hammond said the bank will have a regional headquarters in Baltimore City and lending decisions will  be made on a local basis to ensure a well-established branch network in the Baltimore region.
    “Decision-making at First National Bank is always handled locally, and this includes lending decisions. FNB’s regional headquarters in downtown Baltimore, located in what is now known as the First National Bank building, houses more than 50 financial experts in commercial and consumer banking, wealth management, insurance, private banking, commercial real estate and treasury management,” Hammond said.
    “By bringing local experts from every line of business together and by empowering them with decision-making capabilities, First National Bank is able to respond very quickly and appropriately to the needs of each of our clients.”