Peoples Security Bank and Trust Company 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 (PNB) 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 Security Bank & Trust completed a transition to a Pennsylvania State Banking charter resulting in our new name, Peoples Neighborhood Bank.
In December, 2013, Peoples Neighborhood Bank and Penn Security Bank & Trust Company merged together to create Peoples Security Bank & Trust Company. This strengthened the bank’s presence in Northeastern Pennsylvania and added 13 new banking locations to the branch network bringing the total number to 26 branch locations throughout Northeastern Pennsylvania and New York.
Looking to the future, we will strive to exceed our customers’ expectations while helping them achieve their financial goals, create a work environment where our employees can develop professionally and help make our communities better places to live and work. We will do this by focusing on our core values and company vision to become the premier financial services company in Northeastern Pennsylvania as measured by quality, earnings and growth.