Daily Local News (West Chester, PA)
BANK ON IT
Just one bank left in Coatesville, and it’s a big community supporter
As the only bank still located within the city, Presence Bank is a strong supporter of residents, customers and businesses.
Where there was once seven or eight banks in Coatesville, now only Presence Bank, at 185 E. Lincoln Highway, remains.
Presence Bank in 2022 lent $7 to $8 million in loans to local restaurants, commercial apartment complexes, grocery stores and auto repair shops and local residents, where other banks might be hesitant to lend.
“We want our city to prosper,” bank president Janak M. Amin said, during a Friday interview. “Coatesville has had its ups and downs, is facing challenges and it’s important to have a local bank with its headquarters in a city like this.”
Presence hosts four branch locations in Chester and Lancaster counties, along with two loan production offices in Harrisburg and Elizabethtown.
Amin talked about the leader of a nonprofit who is based five blocks away and did not know about Coatesville’s only headquartered bank, with 38 fulltime employees.
“We need to see more people come in and support the bank,” Amin said. “People’s hearts are in the right place and everybody wants to see Coatesville turn around, but they’ve got to support their local bank and businesses.”
Amin proudly said that Presence is the only Coatesville business listed on the NASDAQ.
“It’s not like there are 10 other Coatesville companies wanting to be listed on the NASDAQ,” he said. “It brings stature to Coatesville as a nationally recognized business.”
Amin stated that their employees develop their purpose and values statement.
“We want an employee bottom to top approach rather than a top to bottom approach that actively promotes culture, purpose and vision to both employees and the community,” he said.
“If you can align an individual’s purpose to your company’s purpose, you can achieve synergy where people naturally want to come to work and do a great job. We strive to be the most loved bank that allows our families, customers and community to prosper.”
Amin talked about a former employee having a tough time finishing her education. With a bank-sponsored financial boost, she graduated and moved on to a university job where her children were able to attend college at no charge.
“Our culture is very important here,” Amin said.
Presence supports the community through local, state and federal taxes, plus the taxes paid by those 38 employees.
“We are paying our fair share and paying the community back,” Amin said.
The bank is also a big supporter of the Make-A—Wish Foundation. The bank asked only that they support local residents.
A hot tub went to a needy Honey Brook resident and a trip to Disney was earmarked for a child who had brain surgery.
Employees are able to wear jeans, while in turn donating. The bank donates $25 to MakeA-Wish when someone opens a new account and matches with another $25 donation when a new account holder also donates $25, for a total of $75.
“It’s amazing what customers will do for kids,” Amin said.