FAll 2015 PoINt - Allegheny Valley Bank

Fall
2015
POINT
to the
Message from the President:
We all know the feeling
Andrew W. Hasley
President & CEO,
Allegheny Valley Bank
T
he first time you meet people, or as you walk into a business meeting where the participants are not familiar with each other, there’s a sense of formality. The handshakes may be
cordial, and the small talk can help to break the ice somewhat, but there’s a little bit of tension
until everybody feels comfortable enough to relax.
We all also know the feeling of stepping into the home or office of a friend, a person who
knows us and all of our good and not-so-good points. The handshakes are warm, the
conversation natural and comfortable. You can conduct business, or just enjoy each other’s
company, immediately.
That’s how we like to work with our business customers at Allegheny Valley Bank. Of course,
they come to us to conduct their banking, or to secure financing, or to manage their investments.
That’s the “what” behind their interaction with us. But the “why” behind their decision to bank
with us – if we’re doing our job right – should always be that sense of friendship, mutual understanding, and a comfort level based on trust and a shared history together.
Our business clients are locally owned companies and real estate professionals. We serve the
builders, manufacturers, health providers and professional services companies that drive the
engine of our local economy. Our clients also include local retailers, wholesalers, municipalities
and non-for-profit entities. We make sure every local merchant and service provider has a bank
to call home.
In this issue:
1
President’s Message
2
Branch of the Future
3
Community Corner
InvestPoint:
Give Your Retirement
Plan a Tune-Up
4
New Hires,
Awards & Promotions
And what makes AVB “home” for these business clients? The same thing that makes everyone’s
special place home – we know each other. That may sound cliché, but it’s true, and our personal
interaction has been rewarded with a loyal customer base.
Some local businesses have been with us for multiple generations. Like them, we live here,
we work here, we want to see our neighborhoods and communities grow and prosper, as the
people with whom we share this little slice of the world do their best to build and sustain successful business enterprises. We share in their pride and appreciate being a part of their success.
When it comes to commercial financing, business deposit, treasury management and wealth
management services, we price ourselves competitively but remain incredibly flexible and nimble to react to our client’s ever-changing needs. Our business customers know that, too often
Blawnox 412.828.6030
Corporate Office 412.781.0318
Downtown Pittsburgh 412.338.9036
Green Tree 412.928.8530
Lawrenceville 412.781.1464
McKnight Road
412.847.7640
Mt. Troy 412.322.6107
Penn Center East 412.856.4022
Shaler 412.486.4245
Shaler Drive-Thru 412.487.9348
2
Allegheny Valley Bank
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Fall 2015
President’s Message - continued from page 1
when dealing with the mega-banks, the representatives there
don’t take the time to understand their business and its unique
needs.
At AVB, we take the time to listen. We want to know what’s
going right with your business, as well as what’s going wrong,
so that we can clearly understand your future needs and
develop the best plan to help you achieve them – in partnership with you.
Our approach rests on a foundation of open dialogue and
mutual respect – as only longtime friends can truly share.
We’ll develop creative solutions to help provide you the right
financing. We will share with you our honest opinions. This
consultative approach has benefited thousands of local companies like yours over the years.
You, as business customers and referral sources of Allegheny
Valley Bank, have my personal pledge that we share a common goal. You’re an important local business, and so are we.
When your business succeeds, we succeed. We’re in this together, and we’re in this to help each other achieve the best
results possible.
So come on in to see us, any time. You’ll get a warm handshake, a genuine welcome, and the promise of a comfortable
conversation conducting business among friends.
Until next time,
Andy Hasley
Branch of the Future
Bank branches have historically been at the forefront of the financial services industry. However,
at a time when advances in technology have enabled Americans to bank online and with mobile
devices, the branch banking model struggles to
remain relevant. Banks have seen lobby traffic
decrease as more financial transactions are conducted via digital channels.
For branches to remain relevant, the experience
is evolving into a more consultative approach where customers can
seek advice and recommendations from highly trained and knowledgeable bank representatives. Customers find comfort knowing
that they have the ability to engage face-to-face with their local
trusted bank representative. Customers are not typically visiting
a branch to deposit a paycheck, they are seeking advice from an
educated financial representative to assist them when applying for
a loan, opening a business account or seeking advice on college savings and retirement planning.
With that said, customer service is more important than ever before. Redesigned branch layouts tend to be more open and inviting,
establishing a comfortable environment for customers to interact
with bank representatives. The traditional physical branch barriers,
George Arendas
VP, Director of Retail Delivery
Allegheny Valley Bank
such as the teller line, are giving way to a more
approachable teller “pod” style design where
customers can sit down with a representative. Since bank representatives are no longer
held captive behind a large teller line, they can
promptly greet customers and address their
needs in a proactive and collaborative manner.
As banks look to repurpose their brick and
mortar branch offices, the incorporation of
technology is a common theme. Similar to an Apple® Store, the use
of technology bars with highly trained product experts demonstrating online and mobile banking services is of paramount importance.
Allegheny Valley has embarked on the process of determining our
“branch of the future” design for the Lawrenceville office. This will
be our first office to incorporate many of the design and technology
features highlighted in this article. While we look to repurpose the
beautiful space of the Lawrenceville office, we will not lose sight of
the unique historic elements. This was the birthplace of Allegheny
Valley Bank over a century ago. The redesigned office will serve as a
tribute to our history and to the true meaning of community banking, while positioning us to serve the generations to come.
Fall 2015
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Allegheny Valley Bank
3
Community Corner: AVB’s Volunteer Program with Greater
Pittsburgh Community Food Bank Recognized by
Pennsylvania Association of Community Bankers (PACB)
Allegheny Valley Bank has been
selected as a winner in the PACB
2015 Grow Your Community
Awards program. AVB was publicly
recognized at the PACB’s annual
convention in Colorado Springs in
September.
This is AVB’s second award of this
kind. In 2014, we were recognized
for our involvement with The
Education Partnership. In 2015, it
is our volunteer program with the
Greater Pittsburgh Community
Food Bank making news.
night of this three-day event, the
admission costs are waived for
attendees who donate a bag of
non-perishable grocery items.
AVB’s volunteer team greets
concert-goers and collects the
donated food items.
The Grow Your Community Award
was established as a way to recognize those banks that go above and
beyond to exceed normal business
practices and impact their communities in meaningful ways.
For the past two years, AVB
has volunteered to support the
Food Bank’s largest fundraiser,
the Pittsburgh Blues Festival. The
festival takes place at Hartwood
Acres in July. On the opening
In just four hours, over 20,000
pounds of food were collected!
AVB’s volunteer team packed
three semi-trailer trucks full of
donations during both the 2014
and 2015 Blues Festivals.
Daniel Koller
[email protected]
In addition to the Pittsburgh Blues
Festival volunteer project, we
have sponsored two food drive
campaigns and volunteered for
The Holiday Market in Market
Square which also benefits the
Food Bank.
INVEST POINT
Give Your Retirement Plan a Tune-Up
Step 1: Review Your Retirement Goals
Your first step should be to review your retirement savings goals
and assess whether anything significant has occurred during the
past year that might affect either your outlook for retirement or
your current strategies to prepare for it.
For example, have you decided to change the date when you’ll
retire? Or have you experienced any new milestones such as getting married, divorced, or having a child? Any of these events may
affect how much you will want to save to fund the retirement you
envision.
Step 2: Take a Fresh Look at Your Retirement Strategy
Your portfolio’s specific mix of stocks, bonds, and cash, known as
your asset allocation, should complement your financial goals, risk
tolerance, and time horizon.1 If you haven’t taken a fresh look at
your investments in a while, don’t assume that your old asset allocation is still appropriate for your current needs.
Even if your personal outlook hasn’t changed, keep in mind that
uneven returns provided by different investments may have caused
your portfolio to shift from your intended asset allocation. If your
asset allocation needs to be rebalanced, now may be the time for
action.
Step 3: Consider Saving More
None of us know what the future may hold. A good way to improve the odds that you have saved enough for retirement is to
save more, no matter how prepared you may already be.
If you have not already done so, consider funding an IRA. For the
2015 tax year, you can contribute a maximum of $5,500 and those
aged 50 and older can make an additional catch-up contribution of
$1,000. These limits are set annually by the IRS. More information
can be obtained at www.irs.gov.
Conducting a retirement tune-up is always a great idea but don’t
forget to consult with a financial advisor to discuss what else you
can do to help achieve retirement security. Contact Daniel Koller,
Senior Investment Officer at Allegheny Valley Bank: 412-773-7285
or email [email protected].
Because of the possibility of human or mechanical error by Wealth Management Systems Inc. or its
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© 2015 Wealth Management Systems Inc. All rights reserved.
$
Securities offered through LPL Financial, member FINRA/SIPC. Insurance products
offered through LPL Financial or its licensed affiliates. Allegheny Valley Bank and
AVB Advisors are not registered broker/dealers and are not affiliated with LPL Financial.
Allegheny Valley Bank
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Fall 2015
AVB New Hires
John E. Boy has been hired as Assistant Vice
President, Regional Manager. John has experience in retail branch development, commercial and residential lending and overall business
development in the financial services industry.
As a Regional Manager, John will assume the
responsibilities of overseeing the sales and
operational goals of the McKnight Road, Blawnox and Mt. Troy offices.
Christine E. White has been named Assistant
Vice President, Credit Analyst. Christine has
over thirty years of credit underwriting and loan
administration experience. In her new role, she will be responsible
for underwriting new and existing commercial relationships as well
as assisting with loan documentation and host system applications.
Joshua Olen has been hired as Vice President,
Commercial Relationship Manager. Josh has
over ten years experience in the financial services
industry ranging from retail branch management
to business development and commercial lending.
At Allegheny Valley Bank, Josh will be responsible
for expanding existing commercial client relationships as well as developing relationships with new commercial
business and commercial real estate clients.
Although fall is here, there still time to get those home
improvement projects done! Stop by or ask an AVB representative
today about our rate specials, credit terms and details.
Loans subject to credit approval.
AVB Awards & Promotions
Deborah L. Evans, Assistant Vice President - Deposit Relationship Officer, has been selected as a 2015 Influential
Executive by Talk Magazine. This award is presented to
influential African-American executives in Pennsylvania representative of both private and public corporations. Deborah was recognized for her professional accomplishments, her dedication to
volunteerism with organizations such as St. Barnabas Charities,
and her strong family values. Join us in congratulating Deborah!
Renee Zigmond has been promoted to Financial Center
Manager of the Pittsburgh office. Renee is responsible for the
daily operations of a full service branch office, including operations, lending, sales and customer service.
Jeffrey Kosky has been promoted to Financial Center Manager.
at the Blawnox office. He is responsible for the daily operations
of a full service branch office, including operations, lending, sales
and customer service.
Sandra Rouse has been promoted to Assistant Financial Center Manager at the McKnight Road office. She will be responsible
for daily operational functions of a full service branch such as
lending, product sales and customer service.
Jeanne Thorp has been promoted to Assistant Financial Center
Manager at the Green Tree office. She will be responsible for daily
operational functions of a full service branch such as lending, product sales and customer service.