Penseco Financial Services Corporation · Scranton, PA United States ·(OTC: PFNS)
Company Description
Phone: 570-346-7741
Fax: 570-969-2743
Toll Free: 800-327-0394
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This link will open in a new window Penseco Financial Services Corporation is the holding company for Penn Security Bank and Trust Company, which serves the Scranton, Pennsylvania, area from about a dozen locations. It offers standard retail products and services, including checking and savings accounts, CDs, IRAs, and money market accounts. It also offers commercial equipment leasing and merchant card processing services. Lending activities are focused on real estate mortgages, which account for some 80% of its loan portfolio. Penn Security also offers business loans, consumer installment loans, municipal loans, construction and development loans, and credit cards. Penseco Financial acquired the three-branch Old Forge Bank in 2009. To read the full description, subscribe now.
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Key Penseco Financial Services Corporation Financials
| Company Type | - OTC: PFNS |
| 2008 Sales (mil.) | $34.1 |
| 2008 Employees | 172 |
Penseco Financial Services Corporation Executives
9 executives listed for Penseco Financial Services Corporation's Scranton, PA location.
| Title | Name & Bio | Contact |
| Chairman, Penseco Financial and Penn Security Bank and Trust | D. William Hume | Network |
| President and CEO, Penseco Financial and Penn State Bank; Director | Craig Best | Network |
| VP Operations | John Warnken | Network |
Competition
Competitive Landscape for Penseco Financial Services Corporation
Demand for banking services is closely tied to economic activity and the level of interest rates. The profitability of individual banks depends on marketing skills, efficient operations, and good risk management. Large economies of scale exist in some segments of the industry, which has encouraged industry consolidation. Smaller banks can compete successfully in segments where customer service or knowledge of the local market is more important. The industry is capital-intensive and highly automated: annual revenue per employee is close to $300,000. Many banks and thrifts aggressively offered adjustable rate and subprime mortgages during the housing boom of the early 2000s only to find themselves saddled with loan defaults and extensive losses when the housing bubble burst. Deep exposure to subprime mortgages and mortgage-backed securities caused bank failures, government takeovers, and involuntary mergers. To read the full description, subscribe now.Top Penseco Financial Services Corporation Competitors
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