Oaks honored for service to First National Bank of Greencastle

Fred Oaks and president and CEO Jeff B. Shank

KAUFFMAN - The Board of Associates of The First National Bank of Greencastle recently met at Mrs. Gibble's Restaurant. Jeff B. Shank, President and CEO, introduced new officers of the bank: Carmen Fox, Eastern Boulevard Office Manager; Mike Williams, Senior Trust Officer; Stephen Bash, MIS Administrator; Joyce Benedict, Waynesboro Office Manager; and Cindy Marconi, Call Center and Training Manager.

Shank then presented Fred Oaks with a Certificate of Appreciation for 40 years of service on the Board of Associates for the Bank. He joins other 40-year Board of Associates members: Marvin Miller, Warren 'Puff' Weaver, Harold Gayman, Kermit Hicks, and Dr. James Craig.

Frank Klink, III, Chief Financial Officer, reported that The First National Bank of Greencastle and Tower Bancorp, Inc. had a solid year, reporting record net income and an all time high for total assets. On a consolidated basis, total assets increased by 4 percent to $562 million; loans increased 2 percent to $399 million; deposits increased 7 percent to $440 million and net income increased 15percent to $7,037,000. Net interest income increased $18.8 million. Noninterest expense increased $2.1 million to $16.1 million or 12 percent. Earnings per share increased to $3 per share on 2.3 million shares outstanding.

Shank stated that The First National Bank of Greencastle has never participated in the subprime mortgage business.

Kim Shockey, Sales and Business Development Manager, reported on the bank's newest campaign of 'A Penny Spent is a Penny Earned', promoting a cash back reward for using the bank's Check Card product. She also informed the Associates of a bank-sponsored seminar titled 'Protecting Your Money, Protecting Yourself' that was held at the McConnellsburg office Speakers were Shockey, James Schall, Esquire and Mike Williams.

Lee Springer, Financial Consultant, then reported on the growth of the bank's Wealth Management Department. Mike Williams, Senior Trust Officer, reported that he and the entire staff have over 45 years of Investment and Trust experience and that the department is looking forward to meeting the needs of their customers.