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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 […]
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 […]
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 […]
1st Summit Bank is proud to announce an exciting new partnership with the Ken Lantzy All-Star Classic. This ten-year commitment from 1st Summit Bank will result in the annual game to be renamed the “1st Summit Bank Ken Lantzy All-Star Classic.” 1st Summit Bank’s financial commitment to the program will provide vital funding for the academic and performance scholarships that […]
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 […]
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 […]
1ST SUMMIT BANK is proud to announce that Eric Renner, CEO & President, and Carol Myers, Chief Financial Officer, have been named to the Pennsylvania Business Central Top 100 People of 2023 list. The Top 100 People list is comprised of business leaders in Central Pennsylvania whose unique contributions to the region have set them apart from the rest of […]
1ST SUMMIT BANK is proud to announce that it has been named one of the “Best Banks to Work For” in the United States by American Banker and Best Companies Group. This is the ninth year in a row that 1ST SUMMIT BANK has been named to this prestigious list. The Best Banks to Work For program, which began in […]
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 […]
Given the news regarding the recent bank failures in California and New York, I suspect many of you have some concerns and are asking questions about what is happening. According to media sources, these two banks were large financial institutions who had engaged in high-risk business segments and encountered fundamental funding challenges that they were not able to manage through, forcing […]
JOHNSTOWN, PA (January 20, 2023) – Effective January 17, 2023, J. Eric Renner has been named President and CEO of 1st Summit Bancorp of Johnstown, Inc., the holding company of 1st Summit Bank. This change is made following the death of Elmer C. Laslo, President and CEO, on January 4, 2023. Approaching four years at the organization, Renner joined 1st […]
JOHNSTOWN, PA (January 5, 2023) – 1ST SUMMIT BANK is saddened to announce that Elmer Laslo, President & CEO of 1ST SUMMIT BANK’s holding company 1ST SUMMIT BANCORP, has passed away after an extended illness. “On behalf of our Board of Directors, senior leadership team, employees, and our expanded 1ST SUMMIT BANK family, we share our deepest sympathies to Elmer’s […]
Combining finances can be complicated for any couple, but the challenges become more complex the second time around, especially when children are involved. Here are some ideas to consider if you are already part of a blended family or looking forward to combining households sometime soon. Be Clear and Comprehensive It’s important to reveal all assets, income, and debts, and […]
If you and your spouse are looking for a way to build your retirement savings but one of you is not working, you might consider funding a spousal IRA. This could be the same IRA that the spouse contributed to while working or it could be a new account. In either case, IRS rules allow a married couple to fund […]
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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