Mr. Evanitsky: The bank was established in 1867 and is located in central Pennsylvania, midway between Harrisburg and State College. Over the years, through branch and bank acquisitions, the company has grown to its present asset size as a $442 million community bank. Our deposit and lending activities are primarily with small businesses and consumers.
TWST: Give us a sense of your recent history, starting from December of 2007 to the present. How has the bank fared through this great recession?
Mr. Evanitsky: Although we have been somewhat impacted by the present recession, we have continued to perform very well in relation to many of our peers in the banking industry, using the traditional banking measurement criteria. Because we are a conservative bank located in a conservative area, we have not been affected by current market conditions as greatly as some other financial institutions. For 2008, we were ranked as the sixth best overall performing bank in the state of Pennsylvania based on a comprehensive analysis of financial performance published by Financial Management Consulting.
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