KNOBLAUCH STATE BANK CEO HOSTS OPEN HOUSE IN READING, PA.
KNOBLAUCH STATE BANK CEO HOSTS OPEN HOUSE IN READING, PA. READING, Pa., May 20 /PRNewswire/ -- John J. Brine, recently appointed chief executive officer of Knoblauch State Bank, hosted an Open House program today from noon to 7:30 p.m., at the bank's offices at 209 Lancaster Ave., here. Special invitations to the event were distributed to the bank's Reading-area customers over the past two weeks. According to Brine, a Harvard Business School graduate, who formerly served as vice chairman and chief financial officer at First Pennsylvania Bank in Philadelphia, the Open House is designed to provide Knoblauch State Bank customers their first opportunity to meet the bank's new chief executive since the institution's conversion from a private bank on April 20. "There has been a great deal of activity at Knoblauch State Bank over the past four weeks," said Brine, "and we wanted to be sure that our customers had every opportunity to ask questions and to hear about our plans to provide an even better level of service to the Reading area. "In all the news about the conversion from private ownership and the legal actions of the former owners," he said, "it has been easy to overlook the fact that the bank now has a much stronger capital base and that customer deposits are more secure -- with the new FDIC coverage -- than they have ever been." Brine said he also wanted to remind Reading-area customers that the staff and management teams at the bank's two Reading offices will remain intact. "We have excellent managers at out two offices in Reading," said Brine. "Sharon Barry and Georgette Krick know this community and are well-respected bankers. They and their staffs have always enjoyed an excellent reputation for customer service. The only difference is that, now, they happen to be working in a financial institution that is significantly stronger than the one it replaced just four weeks ago." Brine also stressed that the Commonwealth of Pennsylvania is irreversibly committed to the action it took on April 17 to strengthen Knoblauch and to protect its depositors, and that the transaction will not be rescinded. "While the lawsuits filed against the Commonwealth create attention and generate inquiries," added Brine, "our customers have noticed that those actions have not affected our daily operations in any way. In virtually every aspect of our business we have returned to business as usual." /delval/ -0- 5/20/92 /CONTACT: A. Bruce Crawley of Crawley, Haskins & Rodgers, 215-922-7184, for Knoblauch State Bank/ CO: Knoblauch State Bank ST: Pennsylvania IN: FIN SU:
CC-JS -- PH019 -- 2336 05/20/92 13:33 EDT
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|Date:||May 20, 1992|
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