Main Line Federal Savings Bank begins new era: Main Line Bank brings value back to banking.
The Villanova-based financial institution will now be known as Main Line Bank, according to 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 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 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, Family Service of Montgomery County, the Upper Main Line YMCA, 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 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 (OTS) 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
Gillespie Public Relations, Lawrenceville, N.J.
Sharon Cates, 609/895-0200, ext. 430
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|Date:||Apr 30, 1996|
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