Bank Focuses on Central PA’s Small Businesses
While uncertainty in the market might seem daunting for some, Centric Bank CEO Patti Husic and her team see it as the right time to invest in the community and local businesses in Pennsylvania.
“My focus as the CEO has been on Centric’s financial performance and loan growth, but always with the end goal of providing capital for our small businesses to prosper and grow. When people lose confidence in the market, they don’t hire, expand, or create jobs. We see ourselves as financial first responders,” says Husic.
In 2007, a group of investors purchased a troubled bank and re-branded and reintroduced the company to the community as Centric Bank. In less than 60 days, the Centric Bank team attracted and secured 125 shareholders.
Today the bank counts approximately $250 million in assets and has three branches in the Harrisburg area. An additional location in Hershey is expected to open in 2013. This strong presence demonstrates that the financial world has room for both large and small banks to thrive, says Husic.
Over the past three years Centric's rate of lending has increased by about 30 percent. Much of that growth is due to loans to small and medium-sized businesses in the region, with a special focus on businesses owned by women and ethnic minorities. In 2010 alone, Centric Bank funded $8.2 million in local loans to minority- and women-owned businesses including engineering firms, law firms, physicians’ practices, marketing firms, cleaning services, computer services and retail stores.
As Husic explains, Centric sees these business owners as our Main Street, the foundation of our local economy. “Prognosticators say, ‘When the economy rebounds, we‘ll consider a growth plan,’ and I remind our team that we are the economy. We lead with financial opportunities and follow with solid business growth,” she adds.
The success of Centric Bank and the leadership provided by Patti Husic has not gone unnoticed. In 2011, the company was ranked 23rd on the Central Penn Business Journal’s list of “Top 50 Fastest Growing Companies” and recognized as a 2011 Best Places to Work, compiled by Team Pennsylvania Foundation, the Pennsylvania Department of Community and Economic Development, the Pennsylvania State Council of the Society for Human Resource Management and the Central Penn Business Journal. The bank's growth also landed Husic on American Banker's recent list of “25 Women to Watch.”
With a company motto proclaiming, “We revolve around you,” the locally owned and operated bank provides cutting-edge financial service technologies and offers customers instant access to bank decision makers and lending officers. Centric employees even give their cell phone numbers to prospective borrowers.
“We Revolve Around You is much more than a tagline—it’s a daily reminder of why we come to work. We are in the relationship business and every individual account matters,” says Husic.