Banking & Finance
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Bankruptcy Reports Send QVC Group Stock into Steep Decline
Reports that West Chester-based QVC Group is negotiating a voluntary debt restructuring with its creditors, potentially including a Chapter 11 bankruptcy filing, have caused the home shopping giant’s stock to fall 66 percent, writes Jeff Blumenthal for the Philadelphia Business Journal. QVC Group and its lenders are reportedly having confidential discussions to resolve the company’s increasing quarterly losses and…
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Mid Penn Bank Hires Vivian Denkins as Cash Management Officer
Vivian Denkins has joined Mid Penn Bank as Vice President and Cash Management Officer. Based in the bank’s new Logan Square office in Philadelphia, Denkins will support business clients throughout the Greater Philadelphia market by delivering cash management and treasury solutions and will report to Abe Ibrahim, First Senior Vice President and Regional President of…
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Firstrust Bank, Philadelphia Eagles Elevate Havertown Carpet Co. Through Brotherly Shove Business Spotlight
Shane Barry never set out to chase the spotlight when he founded the Havertown Carpet Co. in 2015. He just set out to survive. With more than a decade of experience at a stable job in the flooring industry, and with his wife pregnant with their third child, he traded in his car for a…
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Mid Penn Bank Hires Chau Huynh as Commercial Loan Officer
Mid Penn Bank has hired Chau Huynh as Vice President and Commercial Loan Officer. Based in the bank’s new Logan Square office in Philadelphia, Huynh will support commercial clients throughout the Greater Philadelphia market and will report to Abe Ibrahim, First Senior Vice President and Regional President. Huynh brings more than 20 years of experience…
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Future-Proof Your Business with Digital Payments
In today’s evolving financial environment, one trend is crystal clear: cash is no longer king. Amidst shifting consumer preferences and an increasingly digital economy, businesses that want to stay competitive must embrace modern payment solutions — or risk being left behind. Cash Is No Longer King Here’s the reality: cash usage is steadily declining. According…
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Mid Penn Bank Names Jordan Space Chief Revenue Officer of MPB Financial
Mid Penn Bank has named Jordan Space the Chief Revenue Officer of MPB Financial. Space will continue to serve as President of Mid Penn Private Bank and report directly to Mid Penn President and CEO Rory Ritrievi. In his new role, Space will oversee revenue generation and growth initiatives across MPB Financial, the nonbank subsidiary…
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As Philadelphia Celebrates America250, Firstrust Bank Reflects on Its Historic First in Pennsylvania
As Philadelphia prepares to celebrate America250, the 250th anniversary of the signing of the Declaration of Independence, the city’s long tradition of leadership, innovation, and its identity as the City of Firsts is coming into sharper focus. To honor Philadelphia’s role as a cradle of American innovation, the Philadelphia Historic District Partners has assembled 52…
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Unlock the Power of Cash Forecasting
Modern CFOs are growth leaders, strategic visionaries, and trusted advisors at the heart of organizational success. CFOs are responsible not only for maintaining liquidity but also for strengthening resilience and positioning their organizations for sustainable growth. Yet one capability that CFOs often underleverage is effective cash flow forecasting. Cash forecasting is more than a tactical…
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Mid Penn Bank Seeks Applicants for Anna Woodside Scholarship
Mid Penn Bank is now accepting applications for its annual Anna Woodside Scholarship, which awards $1,000 to four outstanding high school seniors to support their college tuition expenses. “This scholarship was created in honor of Anna Woodside, a remarkable woman who made a profound impact on Mid Penn Bank and the central Pennsylvania community,” said…
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Mid Penn Bank Celebrates ‘Millionaire for a Day’ Essay Contest Winner in Philadelphia
Mid Penn Bank recently hosted an assembly at George W. Nebinger Elementary School in Philadelphia to celebrate Rosie, a third-grade student and the winner of its Millionaire for a Day essay contest. The Millionaire for a Day essay contest invited students in grades one through five from Philadelphia, Bucks, Montgomery, and Delaware counties to write…
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Penn Community Bank Executive Takes the Dance Floor to Support Ann Silverman Clinic
Penn Community Bank, the largest independent mutual bank in Eastern Pennsylvania, is proud to share that Bernard Tynes, Executive Vice President and Chief Consumer Banking Officer, is stepping out of the boardroom and onto the ballroom floor as a featured dancer in Dancing for Bucks, one of the region’s largest and most impactful charitable fundraising…
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Mid Penn Bank Hires Sara Shute as Senior Credit Officer
Sara Shute has joined Mid Penn Bank as Senior Vice President and Senior Credit Officer. In this role, Shute will oversee credit administration functions, including credit risk management, loan approval processes, and regulatory compliance efforts. She will be based at the bank’s Malvern Administrative Center and will report to Paul Spotts, Executive Vice President and…
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Coatesville’s Last Remaining Bank Acquired for $55 Million
Founded more than a century ago, Presence Bank, Coatesville’s last remaining bank, has been acquired by Norwood Financial Corp. in a $54.9 million deal, writes Jeff Blumenthal for the Philadelphia Business Journal. A subsidiary of PB Bankshares, Presence Bank is now part of Norwood’s Wayne Bank, with 15 branches in northeastern Pennsylvania and 12 in New York. The deal,…
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Mid Penn Bank Completes Acquisition of Florida-Based Investment Advisory Firm
Mid Penn Bank’s acquisition of Sarasota, Fla.-based Cumberland Advisors has been completed. A registered investment advisory firm with clients both nationally and internationally, Cumberland had approximately $3.2 billion in assets under management. In connection with the acquisition, Cumberland has been merged with and into a newly formed acquisition subsidiary of Mid Penn Bank, operating as…
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Members of Levittown’s Spirit Financial Credit Union Vote Against Merger
Members of Spirit Financial Credit Union in Levittown have voted overwhelmingly against a plan by their leaders to merge with Credit Union 1 of suburban Chicago, writes Joseph N. DiStefano for The Philadelphia Inquirer. “We respect the decision our members made through this vote,” said David Obarowski, the credit union’s chief executive. “There are no…
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PBJ Recognizes Meridian Bank’s Christopher Annas as a 2025 Most Admired CEO
Christopher Annas was recently featured by the Philadelphia Business Journal as one of its 2025 Most Admired CEOs, and the recognition reflects a leadership story rooted in long-term vision, disciplined growth, and community commitment. As Chairman and CEO of Meridian Bank, Annas has spent more than 20 years building the institution from a startup into…
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Oaks’ SEI Investments Announces Leadership Change as Founder Steps Back
A major leadership transition is on the horizon for Oaks-based SEI Investments, the company announced in a press release. SEI announced that founder and Executive Chairman Alfred P. West Jr. will step down as a director and board chair as part of a planned transition effective January 1, 2026 West founded SEI in 1968 and…
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Member Vote to Decide Future of Levittown’s Spirit Financial Merger
Member-owned Spirit Financial Credit Union in Levittown could lose its local ownership status following a member vote on a potential merger with Credit Union 1, writes Joseph N. DiStefano for The Philadelphia Inquirer. Spirit Financial was formed by U.S. Steel Fairless Works in 1954 and maintains its sole office on New Falls Road, which has…
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