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Main Line Federal Savings Bank begins new era: Main Line Bank brings value back to banking.



VILLANOVA, Pa.--(BUSINESS WIRE)--April 30, 1996--Main Line Federal Savings Bank Noun 1. federal savings bank - a federally chartered savings bank
FSB

savings bank - a thrift institution in the northeastern United States; since deregulation in the 1980s they offer services competitive with many commercial banks
 introduced a new name, a new look, and a new banking philosophy to the Philadelphia area Tuesday as it announced its further expansion into a full-service consumer and commercial financial provider.

The Villanova-based financial institution will now be known as Main Line Bank, according to according to
prep.
1. As stated or indicated by; on the authority of: according to historians.

2. In keeping with: according to instructions.

3.
 Dennis Marlo, president and chief executive officer, reflecting its growth into a formidable, full-service business and retail bank.

Marlo said the transformation follows two years of market analysis and internal restructuring aimed at making the bank more competitive in its marketplace.

"Extensive research proved that people are looking for Looking for

In the context of general equities, this describing a buy interest in which a dealer is asked to offer stock, often involving a capital commitment. Antithesis of in touch with.
 more value in their banking relationships and, right now, they are not perceiving full value in the current wave of trends occurring in banking," Marlo said.

"We plan to buck those current trends by providing customers with added value Added value in financial analysis of shares is to be distinguished from value added. Used as a measure of shareholder value, calculated using the formula:

Added Value = Sales - Purchases - Labour Costs - Capital Costs
 on our products and services at the same time other banks are reducing services, consolidating branches and looking for ways to charge their customers higher fees."

To introduce its new name and approach, Main Line Bank has introduced a new advertising campaign using the theme, "More Bank For Your Buck."

"Our new name is a symbol of the new array of individual and business financial products and services we are now providing to customers," Marlo added. "At the same time, however, our customers will receive the traditional and personal hometown banking service and added value that Main Line Bank has always delivered."

The changes were announced during a special event at the bank's Villanova headquarters Tuesday afternoon, which featured the introduction of the bank's new name and logo. Marlo said the new logos will be introduced to the bank's 17 other branches over the course of the summer months.

One highlight of the ceremony was when young representatives of the Family and Community Service of Delaware County Delaware County is the name of six counties in the United States of America:
  • Delaware County, Indiana
  • Delaware County, Iowa
  • Delaware County, New York
  • Delaware County, Ohio
  • Delaware County, Oklahoma
  • Delaware County, Pennsylvania
, Family Service of Montgomery County, the Upper Main Line YMCA YMCA
 in full Young Men's Christian Association

Nonsectarian, nonpolitical Christian lay movement that aims to develop high standards of Christian character among its members.
, and the Easter Seals Society for Handicapped Children and Adults of Philadelphia, Bucks, Montgomery, Chester and Delaware County competed against each other in a charity event.

Armed with a vacuum, each contestant was given one minute to vacuum up as much money as possible in a scenario used in Main Line Bank's current television commercials to mimic high fees charged by other banks.

All of the children walked away as winners, as Main Line Bank presented each participant with a monetary donation to their charity, a trophy and a gift certificate to a local pizza restaurant.

"Involving the community, our retail and business customers and elected officials from the townships that we have served for the past 60 years was essential to us as we made this announcement," Marlo said. "The changes at Main Line Bank will be advantageous to all of our customers as we continue to meet the ever-expanding financial service needs of the residents and businesses we serve."

Main Line Bank has $1.8 billion in assets and is the largest originator of home mortgages in the Greater Philadelphia region. It currently operates 18 business centers in Chester, Delaware and Montgomery counties.

The branches are located in Devon, Exton, Goshen, Paoli, and West Chester in Chester County; Broomall, Collingdale, Drexel Hill, Havertown, Media, Newtown Square, Springfield, Villanova and Wayne in Delaware County; and Ardmore, Blue Bell, Bryn Mawr and King of Prussia King of Prussia, industrialized suburban area (1990 pop. 18,406), Montgomery co., SE Pa. It has glass and steel fabricating, food processing, printing and publishing, and varied manufacturing (textiles, liquified petroleum gas, water-treatment and electrical  in Montgomery County.

In addition to its 18 business centers, the company's eight retail loan production offices serve Eastern Pennsylvania, Southern New Jersey and Northern Delaware.

Main Line Bank has recently received Office of Thrift Supervision The Office of Thrift Supervision (OTS) was established as a bureau of the Treasury Department in August 1989 as part of a major Reorganization Plan of the thrift regulatory structure mandated by the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (FIRREA) (12 U.S.C.A.  (OTS See Office of Thrift Supervision. ) approval for the opening of three additional branches in Bucks and Montgomery counties.

CONTACT: Main Line Federal Savings Bank, Villanova

Chris Roach, 610/526-6418

or

Gillespie Public Relations public relations, activities and policies used to create public interest in a person, idea, product, institution, or business establishment. By its nature, public relations is devoted to serving particular interests by presenting them to the public in the most , Lawrenceville, N.J.

Sharon Cates n. pl. 1. Provisions; food; viands; especially, luxurious food; delicacies; dainties.
Cates for which Apicius could not pay.
- Shurchill.

Choicest cates and the fiagon's best spilth.
- R. Browning.
, 609/895-0200, ext. 430
COPYRIGHT 1996 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1996, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Publication:Business Wire
Date:Apr 30, 1996
Words:630
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