First Resource Bank, which has branches in Exton and West Chester, has completed a private placement with institutional investors of 513,100 shares of common stock at a purchase price of $8.00 per share, for gross proceeds of $4.1 million.
“We are pleased to announce this private placement of our common stock, which generated new capital to take advantage of growth opportunities in our markets,” said Glenn B. Marshall, President and CEO. “In this process, we had the opportunity to present our hybrid community bank model to the institutional investor community, which we see as a benefit now and in the future.”
Sandler O’Neill and Partners acted as sole placement agent for the offering.
The Exton Region Chamber of Commerce is having a luncheon at the Whitford Country Club on June 6 from 11:30 AM-1 PM to lift up its member Nonprofit Organizations, and shine a bright light on exactly how these entities impact the region.
The luncheon, titled “Stories from the Heart: Social Responsibility Starts with a Story,” will feature participants who have received services and whose lives have been changed by regional nonprofits. The chamber requested a story from each member nonprofit to be considered as a speaker at the luncheon. The committee chose four stories that will be shared at the luncheon. Home of the Sparrow, Adult Care of Chester County, Chester County Council, Boy Scouts of America, and Lionville Community YMCA will speak, but all submitted stories will be printed in a pamphlet takeaway for attendees to read later.
All are welcome and encouraged to attend the luncheon. Click here for more information or to register.
The Kennett Area YMCA recently rededicated its wellness center to honor the legacy of the late W. Thomas Musser, a long-time supporter of the YMCA. Musser was instrumental in two capital campaigns that raised funds needed to build the Kennett Area YMCA in 1998, and then to renovate and expand the facility in 2012.
In addition to leading both campaigns, the company Musser founded, the Tri-M Group in Kennett Square, donated the electrical work for both projects. The in-kind value of those gifts exceeded $1 million.
“Tom was a true leader and always had the best interest of his community at heart,” said Denise Day, President and CEO of the YMCA of Greater Brandywine. “He served for many years on the YMCA Association Board of Directors and was chair in 1999-2000. His generosity and strong support and commitment to the mission of the Y will never be forgotten.”
Malvern Bancorp has announced the appointment of Hillary Dobbs as Associate Private Banker in its new Palm Beach, Fla., representative office. The office offers a wide range of private banking, customized wealth management, and advisory services, including trust, investment management, and brokerage services, to high net worth individuals and families, foundations, and endowments.
Dobbs, a graduate of Harvard with a degree in government, is one of the world’s most accomplished equestrians, having won 31 International Grand Prix show jumping events. She won four gold and silver medals representing the United States in international team competition, and she placed sixth at both the 2008 Olympic Trials and 2010 World Equestrian Games Trials.
Dobbs is the daughter of Lou Dobbs, anchor of Fox Business Network’s Lou Dobbs Tonight.
“Hillary is an outstanding addition to our Palm Beach staff,” said Anthony C. Weagley, President and CEO of Malvern Bancorp. “She is committed to providing the superior, personalized banking experience for which Malvern has become known.”
Family histories of descendants of Hinsonville or Lincoln University Village, an early African-American settlement of free landowners and farmers that formerly encompassed the campus and surrounding area, will have the opportunity to be preserved on June 17.
With help from a $12,000 grant from the National Endowment for the Humanities, Lincoln University and the Langston Hughes Memorial Library will host Heritage Day on campus from 9 AM-3 PM. The day features tours of campus, genealogy workshops, and oral history interviews.
Visitors are encouraged to bring family memorabilia — including mementos, photos, funeral programs, articles, Bibles, and other family documents — to be digitized free-of-charge and catalogued. Program consultants, who are trained in oral history interview procedures, will also conduct interviews and provide copies as well. All items will be returned their owners before they leave campus.