2013 is an important year for The Neffs National Bank, which serves the greater northern Lehigh Valley. This year, the bank will celebrate a significant milestone, its 90th anniversary, by holding a special promotion each month, such as a seminar on financial planning or a food drive to support a local food pantry. Kevin A. Schmidt, President and CEO of The Neffs National Bank, said, “We’ve done very well during the past 90 years. We couldn’t have lasted this long without the support of our customers in the community, so we want to celebrate this milestone with them by giving back.”
Ninety years ago, seven courageous, well-known, and community-minded individuals began the process of opening a bank. On February 23, 1923, Calvin F. Hill, Jay B. Kern, Clayton E. Snyder, Raymond H. Moser, Henry P. Wehr, Harvey E. Wotring, and Ray J. Frantz met and enacted The Articles of Association for the incorporation of The Neffs National Bank. These organizers took upon themselves the task of providing for the start of urgently needed community banking services.
On April 3, 1923, the association officially became a corporation when the Organization Certificate was drawn and subsequently signed by the organizers. The Neffs National Bank had 55 original shareholders, which has increased to more than 300 today under Neffs Bancorp, Inc. ( subsequent to a buyback/conversion in 2011). Continuing the process toward chartering a bank, the organizers adopted the by-laws on November 23, 1923. The Neffs National Bank was chartered to conduct its business functions on December 20, 1923.
Originally, the bank performed its business operations from a small room between The Neffs Hotel and Kern & Moser’s General Store, just next door to the current bank building, which was built in 1937. The present day bank building saw two expansions, one in 1965 and another in 1995. In 1986, Neffs Bancorp, Inc. was formed and continues to operate as a one-bank holding company. The Neffs National Bank is the sole subsidiary of Neffs Bancorp, Inc.
Schmidt said, “From its modest beginning in 1923, the growth of the bank has been influenced by the prosperity of the local communities. We are thankful that individuals and businesses continue to contribute to promoting community-oriented, independently-operated banking.” The Neffs National Bank continues today under dynamic leadership of a dedicated Board of Directors, the excellent cooperation of the employees and loyal support of the shareholders and customers.
Read the full interview in January’s issue of Transactions. Aren’t a subscriber? Visit the Transactions page on this website or call PACB at 717-231-7447 to start receiving the magazine.