Peoples Security Bank and Trust had its beginnings as First National Bank of Hallstead, Pennsylvania when it was formed in 1905. In 1960, its officers were P.W. Heath, Chairman of the Board; O.L. Watkins, President; F.D. Merrell, Vice President; W.J. Kirby, Cashier; and C.S. Claxton, Assistant Cashier. On February 19, 1965, First National Bank of Hallstead merged with Hop Bottom Bank to form Peoples National Bank of Susquehanna County with approximate resources of $8,000,000.00
John (Jack) W. Ord joined PNB in 1960, and in 1969 was named CEO after the death of Clarence Claxton. After 46 years of service to PNB, Jack retired in 2006. After Jack’s retirement, existing Board of Director and local CPA, Richard Lochen Jr. was chosen as CEO and served PNB through 2009. In 2010 Alan W. Dakey became the new President and CEO of PNB bringing with him many years of banking experience and roots in Northeastern Pennsylvania.
Also in 2010 Peoples National Bank completed our transition to a Pennsylvania State Banking charter resulting in our new name, Peoples Neighborhood Bank.
A glimpse of the growth of Peoples Neighborhood Bank:
- 1965, First National Bank and Hop Bottom merge to form Peoples National Bank
- 1974, Susquehanna Branch opened
- 1986, Montrose Branch opened
- 1992, Nicholson Branch opened
- 1997, Tunkhannock and Meshoppen Branches were purchased from Mellon Bank
- 2003, Conklin, NY Branch opened
- 2005, Deposit and Binghamton (Front St.) NY Branches are opened
- 2008, Glenburn Branch opened
- 2010, Transition to Pennsylvania State Banking Charter
In December of 2013, Peoples Neighborhood Bank joined forces with Penn Security Bank and Trust to form Peoples Security Bank and Trust. We are strengthening our presence in Northeastern PA and the Southern Tier of New York to serve our customers to the best of our ability.
We are proud to say PSBT has been able to maintain its founding principles through more than 100 years of change and continue to bring the most efficient service possible to its customers without losing the friendliness and special attention they are used to receiving. A motto that is used repeatedly in all our branches is "know your customers." We feel confident that if asked, our customers would say they have a personal relationship with PSBT employees; a personal relationship that will continue to grow and outlast the changes that are sure to come.
We offer a wide variety of products to meet all your personal and business needs. Peoples Security Bank and Trust is committed to providing its market area with competitively-priced products and services, while reinvesting into the local community.