Important Financial Headlines | 1ST SUMMIT BANK

Planning & Investing

6 Famous People Who Died Without Proper Planning

POSTED Sep 25 2022 | 4 MINUTE READ

The importance of proper estate planning cannot be overstated, regardless of the size of your estate or the stage of life you’re in. Nevertheless, it’s surprising how many American adults haven’t put a plan in place. You might think that those who are rich and famous would be way ahead of the curve when it comes to planning their estates […]

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In The Community

1ST SUMMIT BANK Announces Scholarship Winners

POSTED Sep 5 2022 | 1 MINUTE READ

1ST SUMMIT BANK is proud to name Kiera Nadolsky and Dionte Coleman as the scholarship winners of its annual G.H. Miller & Jeanne W. McKelvey, Esq. Scholarship. Both recipients have been awarded $2,500 for tuition costs at the Pennsylvania-based school they are attending this fall. Ms. Nadolsky, Cresson, is a 2022 graduate of Penn Cambria High School and is attending […]

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Planning & Investing

Building Financial Resilience

POSTED Aug 30 2022 | 2 MINUTE READ

Inflation, roller-coaster markets, global events, and life circumstances can test anyone’s fortitude. You may not feel ready to handle these pressure-filled times and might worry about the potential effects on your financial well-being. Fortunately, you can take steps to build the resilience you need to help handle the turbulence and hopefully emerge even stronger. Focus on the Foundation Developing a […]

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In The Spotlight

New Senior Vice-president and Chief Credit Officer

POSTED Aug 18 2022 | 1 MINUTE READ

1ST SUMMIT BANK is proud to announce the appointment of Joseph Kelly as Senior Vice President and Chief Credit Officer as of April 25, 2022. As Chief Credit Officer, Mr. Kelly is responsible for overseeing credit administration, consumer underwriting and processing, mortgage underwriting and processing, collections, and loan workout. He brings a myriad of experience in commercial and consumer lending […]

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Economic Highlights

What the Red-Hot Job Market Means for Workers

POSTED Aug 3 2022 | 2 MINUTE READ

The COVID-19 pandemic kicked off a severe labor shortage — and quite possibly the most worker-friendly job market in many years. Unpredictable demand shifts exposed pre-existing mismatches between the knowledge and skills of available workers and the tasks for which they are needed. The sheer number of available jobs has also been running far above the number of unemployed job […]

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Economic Highlights

What the Red-Hot Job Market Means for Workers

POSTED Aug 3 2022 | 2 MINUTE READ

The COVID-19 pandemic kicked off a severe labor shortage — and quite possibly the most worker-friendly job market in many years. Unpredictable demand shifts exposed pre-existing mismatches between the knowledge and skills of available workers and the tasks for which they are needed. The sheer number of available jobs has also been running far above the number of unemployed job […]

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Economic Highlights

6 Keys to More Successful Investing

POSTED Jul 19 2022 | 8 MINUTE READ

A successful investor maximizes gain and minimizes loss. Though there can be no guarantee that any investment strategy will be successful and all investing involves risk, including the possible loss of principal, here are six basic principles that may help you invest more successfully. Long-term compounding can help your nest egg grow It’s the “rolling snowball” effect. Put simply, compounding […]

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Economic Highlights

Baseball Lessons to Change Up Your Finances

POSTED Apr 18 2022 | 3 MINUTE READ

Baseball stadiums are filled with optimists. Fans start each new season with the hope that even if last year ended badly, this year could finally be the year. After all, teams rally mid-season, curses are broken, and even underdogs sometimes make it to the World Series. As Yogi Berra famously put it, “It ain’t over till it’s over.”1 Here are a few lessons […]

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Economic Highlights

1ST SUMMIT Bancorp Announces Stock Split

POSTED Apr 18 2022 | 1 MINUTE READ

1ST SUMMIT Bancorp of Johnstown, Inc. (OTC Pink: FSMK) (the “Company”) announced today that it has declared a Stock Split in the form of a 100% Stock Dividend. The Stock Dividend will be paid on April 19, 2022 to Shareholders of Record as of April 18, 2022. In deciding to issue the dividend, the Board of Directors believes the […]

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Economic Highlights

Splurge or Save? Making the Most of Your Income Tax Refund

POSTED Mar 9 2022 | 2 MINUTE READ

The IRS issued more than 128 million income tax refunds for the 2020 filing season, putting $355.3 billion into the hands of U.S. consumers.1 For most recipients, such a sudden influx of cash prompts an important question: What’s the best way to use the money? Last year, 27% of consumers said they planned to spend their refund on everyday expenses, […]

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In The Community

1ST SUMMIT BANK Announces Scholarship Winners

POSTED Sep 5 2022 | 1 MINUTE READ

1ST SUMMIT BANK is proud to name Kiera Nadolsky and Dionte Coleman as the scholarship winners of its annual G.H. Miller & Jeanne W. McKelvey, Esq. Scholarship. Both recipients have been awarded $2,500 for tuition costs at the Pennsylvania-based school they are attending this fall. Ms. Nadolsky, Cresson, is a 2022 graduate of Penn Cambria High School and is attending […]

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In The Community

1ST SUMMIT BANK Collects School Supplies for Kids

POSTED Aug 2 2022 | 1 MINUTE READ

1ST SUMMIT BANK is excited to launch its annual Red Wagon Project, collecting back-to-school supplies for kids in our communities. At each of the Bank’s community offices, community members, customers, and employees alike are encouraged to donate new school supplies or make donations to purchase supplies. These items will then be donated to schools and educational facilities across our communities […]

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In The Community

1ST SUMMIT Purchases Equipment for Westmoreland County K9 Unit

POSTED Jul 8 2022 | 2 MINUTE READ

This article appeared in the July 8, 2022 edition of the Tribune-Review, written by reporter Megan Swift. Westmoreland County Park Police’s only police dog, Rico, received a gift to help with his training, thanks to 1ST SUMMIT BANK. Rico, a German shepherd and Belgian Malinois mix, is 1½ and trained to find explosives and guns, as well as in […]

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In The Community

1ST SUMMIT BANK Raises Money for the Stork Fund

POSTED Jun 30 2022 | 1 MINUTE READ

On June 3, 2022, 1ST SUMMIT BANK proudly presented a check for over $1,000 to the Stork Fund, a nonprofit with a purpose to provide financial support to those seeking parenthood through fertility treatment or adoption. Money was collected at 1ST SUMMIT BANK offices in Cambria and Somerset Counties from employees and customers, all who signed their names and wrote […]

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In The Community

1ST SUMMIT BANK & Altoona Curve Announce Teachers of the Year

POSTED May 19 2022 | 2 MINUTE READ

JOHNSTOWN, PA (May 19, 2022) – 1ST SUMMIT BANK and the Altoona Curve are proud to announce the winners of the 2022 Teachers of the Year award. 1ST SUMMIT partnered with the Curve to recognize our area’s finest teachers, honoring three special individuals who lend their passion and skills to educating the next generation. The award winners are as follows: Kim […]

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In The Spotlight

New Senior Vice-president and Chief Credit Officer

POSTED Aug 18 2022 | 1 MINUTE READ

1ST SUMMIT BANK is proud to announce the appointment of Joseph Kelly as Senior Vice President and Chief Credit Officer as of April 25, 2022. As Chief Credit Officer, Mr. Kelly is responsible for overseeing credit administration, consumer underwriting and processing, mortgage underwriting and processing, collections, and loan workout. He brings a myriad of experience in commercial and consumer lending […]

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In The Spotlight

1ST SUMMIT BANK Recognized as Top 100 Organization

POSTED May 16 2022 | 1 MINUTE READ

1ST SUMMIT BANK has been named a 2022 Top 100 Organization in Central Pennsylvania by PA Business Central. This is the 14th year in a row that 1ST SUMMIT BANK has made the Top 100 list published by the well-respected publication. “Being named a Top 100 Organization is a special honor,” said Eric Renner, CEO and President of 1ST SUMMIT […]

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In The Spotlight

Carol Myers Receives Statewide Banking Award

POSTED May 4 2022 | 2 MINUTE READ

HARRISBURG, PA (May 4, 2022) – Carol A. Myers, Chief Financial Officer at 1ST SUMMIT BANK, was honored with the Patricia A. Husic Woman of Influence Award at the Pennsylvania Bankers Association’s (PA Bankers’) annual Women in Banking Conference on May 2, 2022. The Patricia A. Husic Woman of Influence Award is presented as part of PA Bankers’ Women in […]

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In The Spotlight

Angela Moffat Named Senior Wealth Management Business Development Officer

POSTED Mar 28 2022 | 1 MINUTE READ

1ST SUMMIT BANK is proud to announce the appointment of Ms. Angela Moffat as AVP and Senior Wealth Management Business Development Officer, covering Westmoreland, Indiana, and Somerset counties. In this position, Ms. Moffat will provide expert guidance and innovative solutions for the planning needs of both individuals and businesses in retirement planning, investment and insurance services, education funding, and employee […]

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In The Spotlight

Donald Yeager Is Senior Business Relationship Manager in Blair County

POSTED Mar 25 2022 | 1 MINUTE READ

1ST SUMMIT BANK is proud to announce the appointment of Donald Yeager as Senior Business Relationship Manager at the bank’s new Loan Production Office in Hollidaysburg. As Senior Vice President & Senior Business Relationship Manager, Mr. Yeager is responsible for commercial business development and growing the bank’s presence in Blair County. Mr. Yeager also serves as 1ST SUMMIT BANK’s Public […]

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Planning & Investing

6 Famous People Who Died Without Proper Planning

POSTED Sep 25 2022 | 4 MINUTE READ

The importance of proper estate planning cannot be overstated, regardless of the size of your estate or the stage of life you’re in. Nevertheless, it’s surprising how many American adults haven’t put a plan in place. You might think that those who are rich and famous would be way ahead of the curve when it comes to planning their estates […]

Continue Reading..

Planning & Investing

Building Financial Resilience

POSTED Aug 30 2022 | 2 MINUTE READ

Inflation, roller-coaster markets, global events, and life circumstances can test anyone’s fortitude. You may not feel ready to handle these pressure-filled times and might worry about the potential effects on your financial well-being. Fortunately, you can take steps to build the resilience you need to help handle the turbulence and hopefully emerge even stronger. Focus on the Foundation Developing a […]

Continue Reading..

Planning & Investing

Is A High-Deductible Health Plan Right For You?

POSTED Oct 27 2021 | 3 MINUTE READ

In 2020, 31% of U.S. workers with employer-sponsored health insurance had a high-deductible health plan (HDHP), up from 24% in 2015.1 These plans are also available outside the workplace through private insurers and the Health Insurance Marketplace. Although HDHP participation has grown rapidly, the most common plan — covering almost half of U.S. workers — is a traditional preferred […]

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Planning & Investing

Estimating Your Retirement Income Needs

POSTED Jul 29 2021 | 5 MINUTE READ

You know how important it is to plan for your retirement, but where do you begin? One of your first steps should be to estimate how much income you’ll need to fund your retirement. That’s not as easy as it sounds, because retirement planning is not an exact science. Your specific needs depend on your goals and many other factors. […]

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Economic Highlights Planning & Investing

Saving for Retirement and a Child’s Education at the Same Time

POSTED May 7 2021 | 6 MINUTE READ

You want to retire comfortably when the time comes. You also want to help your child go to college. So how do you juggle the two? The truth is, saving for your retirement and your child’s education at the same time can be a challenge. But take heart – you may be able to reach both goals if you make […]

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