Valley Green Bank is expanding its regional reach by opening a new branch at Broad and Tasker Streets in South Philly. It will be the bank's first official foray into the area and its third location overall.
The bank opened its first location in Mt. Airy in November 2005, and quickly became known as an alternative to national banks for small businesses and developers looking for loans. For Valley Green Bank, being a "community bank" means small asset holdings, remaining locally owned and operated, retaining an ability to lend to smaller clients and conducting most of its business in Philadelphia.
The bank is not entirely new to South Philly -- since 2010, a lending team led by Robert Marino has been operating here, leading to a strong collection of small business clients.
"In South Philly, it's apparent that businesses care about community and vise versa," explains Leslie Seitchik, director of marketing for the Valley Green Bank. "We want to be a part of it."
Community banks also work to have a physical presence in the neighborhoods they serve. Thanks to that established portfolio of South Philly clients, the Broad and Tasker location is the perfect fit. (Valley Green also has commercial loan centers in Center City and Radnor.)
Valley Green promises to hold true to its original business model at the new location. "What has made us successful over the years has been our ability to lend when larger banks haven’t been able to," says Seitchik. "Because we’re small and nimble, we’ve been able to support the small business community."
Valley Green sees a lot of potential to expand its real estate client base in South Philly, along with the retail side of their business. "We want community members to come bank with us, to open up anything from a checking account to money market accounts," says Seitchik.
In keeping with the bank's vision, the design of the new branch opens up the building to the both streets with large windows, welcoming in the neighborhood. Designed by local firm
Metcalfe Architecture and Design, the renovation is expected to be complete this June.
Source: Leslie Seitchik, Director of Marketing, Valley Green Bank
Writer:
Greg Meckstroth