President's Greeting

Dear Shareholders and Friends,

For thirty years, we have had the privilege of operating this Bank in a region that is rich with diversity, opportunities, innovation and collaboration. We have worked diligently to reflect solid characteristics that reveal strong and enduring relationships which can stand the test of time. The Board of Directors, senior management, and staff know that while banking is oftentimes described by its transactions; we know that a relational approach will yield inclusion and transformative results. As a Mission-driven Bank, we will continue to create balance in the economic spectrum by offering products and services with a goal of favorably impacting economic disparities.

The objective of Mayor Kenney’s Administration in the City of Philadelphia is to “improve the economic prosperity of the residents of the city and reduce poverty.” An essential focus to achieve this objective will be to increase quality jobs. The Bank’s business strategy is a solid compliment to the City’s job creation goal. We are focused on providing affordable loans to small businesses through the Small Business Administration SBA (7a) loan program enabling these businesses to create and retain jobs. It is well known that small businesses are taking the lead in creating and retaining jobs which foster sustainability in growth sectors yielding long standing career tracks.

Approximately one-third of jobs in Philadelphia are located in educational and health services, or “eds and meds,” which include the city’s renowned large universities and hospitals. These institutions provide significant stability to the City’s economy as well as a broad variety of jobs. In addition, this sector is also filled with business opportunities for the small business owners seeking to grow their enterprises. The other sectors that are attractive to the Bank include hospitality, professional services and light manufacturing.

Through a more engaging “execution strategy”, we will continue to build our urban business banking model so that it is firmly institutionalized in the fabric of this region. We know that there is tremendous talent throughout the region and we will continue to work to ensure that the Bank’s products and services are affordable and meet the growing needs of its clients. We look forward to the new challenges and opportunities. Remember, you are our Community and you have our Commitment to continue to lead this institution with integrity and innovation while building lasting relationships with current and new clients dedicated to growing together to make greater impact in a region we all care about; therefore, we want to be your banking relationship of choice.

“So Much More Than Banking”


Evelyn F. Smalls
President and
Chief Executive Officer


So Much More Than Banking

It's Impact.

Creating jobs and opportunities.

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