First Priority Bank

First Priority Bank has reported that net income for the six months ended June 30, 2017 increased 42 percent to $1.55 million, or $0.21 per basic and fully diluted common share, compared with $1.09 million, or $0.13 per basic and fully diluted common share, for the same period in 2016.

Net income for the second quarter of 2017 totals $766,000, or $0.11 per basic common share and $0.10 per fully diluted common share, a 38 percent increase compared to $556,000, or $0.07 per basic and fully diluted common share in the second quarter of 2016. It compares to $782,000 or $0.11 per basic and fully diluted common share in the first quarter of 2017.

Income to common shareholders, after preferred dividends, totaled $1.40 million for the first six months of 2017, a 67 percent increase over the prior year of $833,000; and totaled $690,000 in the second quarter of 2017, an increase of 44 percent over $479,000 reported in the second quarter of the prior year.

“The company’s operating performance is sound, asset quality continues to improve, the balance sheet remains strong, and we continue to broaden our relevance as the company expands its reach,” said David E. Sparks, Chairman and CEO of the Malvern-based bank. “Total loans increased 18 percent versus a year ago primarily due to the $64 million loan and relationship acquisition, which closed in August 2016.

“Since that time, we have been very successful in expanding and deepening our relationships with these new customers. Additionally, we have also been very cautious in maintaining our underwriting discipline in a very competitive marketplace.”

Delaware County Community College

Seeking to provide students with more affordable opportunities to earn a bachelor’s degree, Delaware County Community College and Saint Joseph’s University have enhanced their four-year-old dual admission partnership agreement for students. The new agreement provides significantly more merit scholarships, as well as more course options for students who are interested in seamlessly transferring to the university.

“Ensuring that quality higher education opportunities are accessible and affordable is at the heart of the mission and vision of our institution,” said Dr. L. Joy Gates Black, president of the college. “We are pleased that Saint Joseph’s University has partnered with us to provide this enhanced educational opportunity to our students.”

Under the new agreement, a full-time, eligible student who graduates from the college with 60 credits could enter the university as a junior and complete a bachelor’s degree in as little as four regular terms (spring and fall). Delaware County Community College graduates with a minimum 2.75 GPA also are eligible for university merit-based scholarships. The scholarships range from $6,500 to $20,000 for students with a 3.75 GPA or above. Scholarships are only available during the spring and fall semesters.

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Chester County

Chester County’s increased advancement in digital technology has earned it a higher ranking among America’s 3,000-plus counties. The Center for Digital Government (CDG) and National Association of Counties (NACo) have placed Chester County as eighth in the nation for best technology practices, including initiatives that save tax dollars, boost transparency, and focus on cyber security and citizen engagement.

Recognizing Chester County’s achievements, the judging panel noted: “Whereas last year was one of broad steps, this year is one of efficiency and nuance for Chester County. The county has begun to include ‘snapshots’ of local eateries’ most recent inspections online so they are accessible via mobile devices, using existing software and no new funding. The county also partnered with the U.S. Geological Survey to provide county residents updates on water conditions and now include civil e-filing, which allows litigants to initiate cases and access files online. In addition to these smaller steps, Chester County was one of the first counties in the region to do introduce Text to 9-1-1.”

“Digital counties are leveraging technology to improve the ways they conduct business and engage with citizens in increasingly innovative and exciting ways,” said CDG executive director Todd Sander.

The Protection Bureau

The Protection Bureau, a security systems integrator based in Exton, has awarded Education Scholarships to 10 children of company employees. The Education Fund, established in 2005 by Keith and Mary Ladd, owners of The Protection Bureau, is for the benefit of children of current employees who enroll in formal programs for post-secondary education.

This year’s scholarship recipients are:

• Tara Gassenmeyer
• Adam Snyder
• Rebecca Dwyer
• Samantha Dwyer
• Jonathan Trout
• Alexander Trout
• Sabrina Areizaga
• Jeremy Appert
• Alexis Carrington
• Shauna Foley

To date, 67 students have received scholarships totaling $67,000 over the past 13 years.

“Looking back, it’s hard to believe that 13 years have gone by,” said Mary Ladd. “It’s heartwarming to see these young adults at our company events – hearing what they’ve accomplished and how far they’ve come.”

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