Prestige Community Bank Review
This is a Prestige Community Bank Review that will take an unbiased look at this financial institution. This presentation is to inform the public of this bank and no monetary compensation will be received by the writer from this institution.
This bank is located in Newtown Pennsylvania. Like many other startup banks since the recession, this one has already been purchased by First Priority Bank of Malvern. This occurred in its first week of the bank operating in October of 2007. The sale price was for $9.5 million. The new owners are the parent company named First Priority Financial Corp. The business plan is to have Prestige Community Bank operate as division of First Priority Bank. This merger was approved by the Pennsylvania Department of Banking on February 29, 2008.
Prestige Community bank was a commercial bank with a state charter that was under the supervision of the FDIC. As of May 14, 2009 it had $37.6 million in total assets.
In March of 2008 this financial institution won approval from the local zoning board to erect a new sign. This was so the bank could be located by those in the nearby intersection easier.
At the current time there are no bank rates or any other information about this bank. This Prestige Community Bank Review has come to the conclusion that First Priority Bank of Malvern has totally absorbed this bank along with changing the name on the only branch office it had in Newtown PA.
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