Chester County Briefly: October 27


First Resource Bank

Having recently announced its financial results for the three months ended Sept. 30, 2017, First Resource Bank has experienced its most profitable quarter to date.

Highlights for the third quarter of 2017 include:

  • net income was $461,704, an increase of 11 percent over the second quarter of 2017 and 39 percent over the third quarter of 2016
  • non-interest-bearing deposits grew eight percent
  • the net interest margin expanded from 3.87 percent in the second quarter to 3.96 percent in the third quarter
  • $42,000 in gains on sales of SBA loans were recognized

“The third quarter of 2017 was the seventh consecutive quarter with increasing profitability,” said Glenn B. Marshall, First Resource Bank’s President and CEO. “In the first nine months of 2017, we have already surpassed net income for the entire year in 2016. Our deposit growth has been focused on business checking, and strategies implemented are yielding solid results. We are very happy with the performance of our West Chester branch which has grown in excess of $55 million in deposits since opening in April 2014.”

Donations to Hurricane Victims

Days after area first-responders returned from delivering 68,000 pounds of donations to victims of Hurricane Harvey in Texas, they began setting up a similar effort for Hurricane Irma’s Florida victims – an initiative that also benefitted residents in Puerto Rico reeling from the wrath of Hurricane Maria.

On Oct. 4, Ron Giacinto, a captain with the West Chester Fire Police and a volunteer at Good Will Fire Company No. 2, and Ted Hartz, another lead organizer, left West Chester, headed to Big Pine Key, Fla. Another tractor-trailer load of supplies had been collected from numerous sites, including the Dilworthtown Giant supermarket, the West Goshen Acme, the Southern Chester County Regional Police Department, Chester County government buildings, Union Fire Company No. 1, and Kennett Fire Company No. 1.

In addition to donations from individuals, multiple agencies and groups – from Good Fellowship Ambulance to Chester County Hospital to First Presbyterian Church – organized drives and delivered items to one of the two tractor-trailers staffed with volunteers.

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Felicia Chew

Genesis Rehab Services

Felicia Chew – vice president of clinical services at Genesis Rehab Services, an affiliate of Kennett Square-based Genesis HealthCare – was approved as a co-principal investigator for a $4.7 million contract funded by the Patient-Centered Outcomes Research Institute. Chew joins a team of researchers to study treatment approaches for nursing home residents with dementia.

More than half of America’s 1.4 million nursing home residents live with Alzheimer’s disease or dementia. On any given day in any of the thousands of nursing homes across the country, medications need adjusting and activities require adapting as residents are monitored for changes.

But when compounded by inconsistent routines, communication difficulties, and under- or over-stimulating environments, these diseases can often result in disruptive behaviors like aggression and agitation. If left untreated, such behaviors can contribute to adverse events such as accidental falls, resident altercations, and injuries to staff.

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