Valley Green Bank, a Philadelphia-based commercial bank, is planning to open a new division, Delaware Valley Region and plans to open an office in Philadelphia by late January 2010. The bank has appointed Bob Marino as president of the new division.
The Delaware Valley Region’s management team will leverage their relationships with former and prospective customers to help Valley Green Bank expand on its growing loan and deposit portfolios.
Joining Mr Marino are five former executives and two administrators from National Penn Bank. Mark Biedermann, chief credit officer; Tim Snyder, senior vice president of cash management and government banking; Matthew Graham, vice president; Daniel Krewson, vice president; Debra Palochak, vice president; Traci Sebastian, relationship assistant and Anne Morris, marketing assistant.
In addition to serving as division president, Mr Marino was elected to the board of directors of Valley Green Bank. He comes to Valley Green Bank after serving as president of National Penn Bank’s southern region since 2006. Mr Marino and his team have agreed to invest in additional stock.
Mr Marino said: “What made Valley Green Bank so attractive to me was its ability to provide credit to high-quality borrowers, a problem for larger regional and national banks hampered by significant losses from failed investments and troubled loan portfolios. My team and I are looking forward to offering Valley Green Bank’s high level of performance to commercial customers across the region.”
Jay Goldstein, president and CEO of Valley Green Bank, said: “We are thrilled to welcome Bob Marino and his team to Valley Green Bank. Our success navigating through industry-wide challenges in 2009 allowed us to take advantage of this unique opportunity to build on our strengths.”
