– USA, PA – Firstrust Bank today announced that President Tim Abell will become CEO effective on January 1st, 2023, to succeed current Board Chairman and CEO, Richard Green who will become the Executive Chairman of the Board of Directors.
About Tim Abell
Tim Abell was born and raised in Philadelphia and has longstanding ties throughout the community. He has served as Firstrust’s President since 2007 and as a member of the Board of Directors since 2016. He will be the first non-family member to serve as CEO and he will remain President.
In his new position, Abell will be responsible for implementing the bank’s strategic plan, including guiding its digital transformation, and the overall growth of the enterprise. He will oversee the day-to-day operations of Firstrust, as well as its Apex Commercial Capital, Firstrust Financial Resource,s and Hatch Bank subsidiaries.
Tim Abell has more than 30 years of experience working with businesses and entrepreneurs in the Philadelphia region. He joined Firstrust in 2004 and during his tenure has expanded the bank’s small business, commercial,l and real estate lending businesses, developing new business lines, overseeing the investment in digital technologies, the expansion into the Maryland market,t and the growth of the subsidiaries. Before joining Firstrust, Abell was Market President for Fleet Bank in Philadelphia and Southern New Jersey.
About Firstrust Bank
Founded in 1934, with assets of approximately $5 billion, Firstrust Bank is the region’s largest family-owned financial institution, one of the region’s largest and strongest full-service commercial banks, and one of the most consistently top-performing banks in the Nation. Founded by Samuel A. Green, who began the business in his mother’s kitchen in South Philadelphia, Firstrust is currently in its third generation of family management, operating as Philadelphia’s Hometown Bank for nearly 90 years. Firstrust offers a broad range of retail and commercial banking products and services to individuals, businesses, and institutions. In commercial banking, Firstrust provides a wide variety of solutions, including commercial real estate finance, business banking, asset-backed lending, and deposit and treasury management services. Firstrust meets the need of its consumer customers by offering a full range of deposit, lending, and residential mortgage products. Firstrust is a Small Business Administration Preferred Lender, is a Top Workplaces employer, the Official Bank of the Philadelphia Eagles and serves its customers through 19 branch banking offices located in Southeastern PA, Cherry Hill, NJ, and Towson, MD.
For more information: https://www.firstrust.com/
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