May 30, 2012
For Immediate Release
Stephen Sant Promoted on Bank 25th Anniversary
East Liverpool, OH. – June 1, 2012 marks the 25th Anniversary of the 1st National Community Bank with its headquarters in the original bank office location at 16924 St. Clair Avenue at East Liverpool, OH. The office first opened for banking business on June 1, 1987 under a charter granted by the Office of the Comptroller of the Currency.
The anniversary is being marked in a number of ways including the naming of Stephen R. Sant as President & CEO of Tri-State 1st Banc. Tri-State is a financial holding company under the supervision of the Federal Reserve Bank since 1996. It presently owns three other subsidiary companies that are operating primarily in East Liverpool and Ohio, West Virginia and Pennsylvania forming the tri-state area. Mr. Sant has served as President & CEO of the bank since 2008 and also as President of the holding company. He will continue to also serve as the President & CEO of the Bank. Sant was named to suceed Charles B. Lang who has served as CEO since the founding of the company in 1987. Mr. Lang will continue in the capacity of Chairman of the Board of Tri-State and as the legal counsel.
President Sant began his banking career in the early 1970s with Potters Bank & Trust Company in East Liverpool. His impressive career thereafter included serving as President of a community bank in Chillicothe IL, President of First Federal of Western Pennsylvania, President of Beaver Trust Company, President of First Western Bank of New Castle, PA and the Regional President for Sky Bank in the Western Pennsylvania Region. Just prior to joining 1st Bank Mr. Sant was the Regional President for the Huntington National Bank of Columbus in Western Pennsylvania. Mr. Sant is a son of the late Helen and Richard Sant of East Liverpool. He will assume the Presidency of the East Liverpool Rotary Club on July 1st.
The 25th Annual meeting of the company was held at the East Liverpool Motor Lodge on May 16 that began with a meal served to over one hundred shareholders. Each person attending the meeting received a Homer Laughlin commemeratiave plate decorated by the W. C. Bunting Company featuring a current picture of the original banking office and a booklet describing the first 25 years of the company. Five persons still associated with the Bank since 1987 received a 25 year pin including Founding & Charter Directors John C. Thompson and Charles Lang, and employees Kathy Capraruola, Deborah Blankenship and Pam Jordan.
During the business meeting of the corporation, the following Directors of the company were returned to new three terms by vote of its shareholders: William E. Blair, Jr., a Director since 1991, Stephen W. Cooper since 1989 and David M. Stacey CPA since 2009. Proxies representing the shareholders were: Atty. Mary Sue Lang, Alfred Fricano, CPA and Dr. Gary Schreckengost. Chairman Lang presided.
The annual reorganizational meeting of the Board of Directors of Tri-State was held on May 24 at the corporate offices for the appointment of officers and directors. In addition to the appointment of Mr. Sant as President & CEO of the company, John P. Scotford, Jr. was appointed to fill the vacant seat of his father as a Director until 2013. John P. Scotford was a Founding & Charter Director of the Bank and his son has served as a Bank Board Director since 2005. John Jr., wife, Laura and their three children reside in Poland, OH. He serves as President of McBarscot Company also of Poland and is Trustee for the Scotford Foundation. John also serves as a Trustee of the Youngstown YMCA and as an officer of Poland’s Town One Streetscapes.
Reappointed as President & CEO of the four subsidiaries were Mr. Sant of 1st National Community Bank; Dr. Marc D. Hoffrichter of MDH Investment Management Inc.; Lance Lang for Gateminder Coroporation; and Stephen W. Cooper at Cooper Insurance Agency Inc.
The 25th Anniversary 2011 Annual Report showed Total Assets of the corporation of $132.9 million and Total Stockholders’ Equity of $12.8 million on December 31, 2011. Earnings of the company for the year after dividends paid to stockholders were $782 thousand or $.54 per share. The Bank had Total Deposits of $102.0 million. Dr. Hoffrichter reported at the Annual meeting that he had over $95 million in assets under management; Gateminder reported that there are 150 ATM machines it manages, and Cooper Insurance reported record revenues in its 105th year of serving the area.
Stephen A. Beadnell, CFO
Tri-State 1st Banc Inc.
16926 St. Clair Avenue
P. O. Box 796
East Liverpool, OH. 43920