CORRECTIVE REPRINT
PRINTING PLANT ERROR
PRIOR PRINTER'S NO. 4078 PRINTER'S NO. 4151
No. 358 Session of 1990
INTRODUCED BY F. TAYLOR, GALLEN, ITKIN, HAYES, WAMBACH, RIEGER,
FAIRCHILD, SEMMEL, NAILOR, JOHNSON, SCHULER, HERMAN, SAURMAN,
MURPHY, PITTS, McCALL, STUBAN, NOYE, TIGUE, S. H. SMITH,
PETRONE, KOSINSKI, MAIALE, PISTELLA, FARGO, GANNON, BARLEY,
MORRIS, McVERRY, ROBINSON, GIGLIOTTI, D. F. CLARK,
E. Z. TAYLOR, GODSHALL, ALLEN, LEH, LASHINGER, MARSICO,
ARGALL, D. R. WRIGHT, HUGHES, CLYMER, MARKOSEK, CARLSON,
DONATUCCI, BOYES, FOX, VROON, COY, WASS, LaGROTTA,
CALTAGIRONE, DEMPSEY, DeLUCA, DIETTERICK, JACKSON, DORR,
VAN HORNE, HAGARTY, BUSH, MAINE, CESSAR, B. SMITH, KONDRICH
AND STEIGHNER, SEPTEMBER 25, 1990
REFERRED TO COMMITTEE ON RULES, SEPTEMBER 25, 1990
A RESOLUTION
1 Declaring September 24 through 28, 1990, as "Community Banking
2 Week."
3 WHEREAS, For over 100 years independent community banks in
4 this Commonwealth have worked to provide for their local
5 communities the local support necessary to grow and prosper,
6 putting Pennsylvania first and benefiting both their local
7 communities and the Commonwealth as a whole; and
8 WHEREAS, There are more than 200 locally owned and operated
9 independent banks with more than 750 banking offices found in
10 small towns, rural areas, suburbs and cities throughout this
11 Commonwealth. Collectively, they boast more than $21 billion in
12 assets and have more than 73,000 shareholders and 2.73 million
1 account holders. Community banks are working citizens of their
2 communities in every sense of the word. More than 12,500 full-
3 time and 2,500 part-time employees work for Pennsylvania's
4 community banks; and
5 WHEREAS, Community banks also work for their communities as
6 economic focal points where funds are "recycled." Community
7 banks know that when money stays in town it becomes a renewable
8 resource, creating an economic cycle that constantly
9 recirculates and revitalizes the community. On average,
10 approximately 95 - 100% of the typical community bank's loan
11 portfolio is reinvested in the community, usually within 50
12 miles of a bank office, and almost entirely within
13 Pennsylvania's borders. The average community bank in
14 Pennsylvania has over 30% of its holdings in commercial loans
15 with local businesses and more than 50% in mortgage loans to
16 local homeowners; and
17 WHEREAS, Community banks focus on the prosperity of
18 individuals and small businesses in their hometowns currently
19 having invested more than $6.6 billion in residential and
20 mortgage loans; more than $4.5 billion in commercial loans; more
21 than $352 million in agricultural loans; and more than $191.5
22 million in student loans; therefore be it
23 RESOLVED, That the House of Representatives hereby declare
24 September 24 through 28, 1990, as "Community Banking Week" and
25 laud community banks across this Commonwealth for their
26 significant contributions to the economic well-being of
27 Pennsylvania through their financial commitments to their local
28 communities, their dedication as working neighbors, and above
29 all, for serving as fiscally sound and reliable sources of
30 economic lifeblood in communities all across this great
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