At Wednesday evening’s Easton City Council Meeting, a resolution was passed naming Merchants Bank as the City’s new financial institution. Over the summer, Easton sent out a Request for Proposal to seven local banks. The five responding banks presented their proposals to the City. They were judged on several criteria including: services provided, pricing, rate of return, references, account service and transition, government banking expertise, city investment and vendor values. Merchants Bank ranked first or tied for first in all of these areas.
As a true community institution, Merchants Bank prides itself and differentiates itself from competitors based on its commitment to local businesses, government and families. “We knew Merchants Bank would really excel in the vendor values category,” said Tracey Smith, Senior Vice President of Retail Banking. “But when we added up our community support, the breadth and depth of it was quite staggering.” Recently, employees have volunteered for almost thirty-five boards, committees or events just in the Easton area. From 2007 to 2012, the Bank donated nearly $185,000 to community organizations in the City of Easton and financed over $20.4 million dollars towards revitalization projects, helping to improve life and commerce in Easton.
Mayor Sal Panto shared his excitement, “This is a win-win for everyone. Merchants Bank has supported the City of Easton and surrounding areas for quite some time and we know they will be a true partner in enhancing the City’s bottom line. We are elated to deepen our relationship with a financial institution that is so committed to the community.” As part of their winning proposal, Merchants thoroughly outlined their detailed plan to not only transition the City’s accounts, but how their team would support the City’s employees with in-person support and service. The transition from the City’s current financial institution to Merchants Bank will begin in spring.
Merchants Bank is a locally owned and operated community bank with eight branches in seven different communities. Merchants Bank serves sixteen of the thirty-seven municipalities, boroughs and townships in Northampton County in some capacity. The bank’s Downtown Easton Branch is located at 1 Centre Square and opened in 2004. MNB Investment Services is a division of the bank and offers investment and wealth management financial services. More information can be accessed at www.merchantsbangor.com.