Our Company Mission-To Be The Premier Financial Relationship Provider In Our Market.
In May of 1924 our bank was established as Salix State Bank with our first office located in Dunlo, PA . In the first 10 years the Bank survived the 1929 stock market crash when the Board of Directors subsidized the Bank with their own money.
The Sidman, Salix and Beaverdale Offices were opened by 1974 when we celebrated 50 years in business with steady growth and reporting Assets of $14 Million. Our Richland Office opened in 1980 and our Corporate Office was relocated to this building.
Salix State Bank became Summit Bank in 1982 to reflect our climbing success. In 1989 our Trust and Investment Division was established. And by 1990 we had expanded to include 6 Community Offices adding Downtown Johnstown, Portage and Westmont locations. We welcomed new technology with two ATMs for convenience banking for our customers and community. 1990 was a monumental year as our Shareholders approved the formation of the holding company format making the Bank a wholly-owned subsidiary and Assets exceeded $100 million for the first time.
Change was coming fast for our Company. By 1996 we had added a seventh office in Cresson. Summit Bancorp and Summit Bank became 1ST SUMMIT BANCORP and 1ST SUMMIT BANK. Technology expanded our offerings with 24 Hour Telebanc telephone banking and our website was live on the internet. Our eighth office opened in Park Hill in 1997. We opened offices in two neighboring counties with our Somerset and Indiana Offices in 1999.
In Y2K (2000) the 1ST SUMMIT BANK partnered with a registered broker/dealer to add annuities, more mutual fund offerings and other investment products. Total Assets exceeded $228 million at year end.
For the next ten years we had significant growth with Assets increasing by $451 million and deposits more than doubling, although the events of 9/11 caused worldwide unrest and economic uncertainty. We embraced more change when we offered Online Banking services. In 2004 the Bank expanded with the opening of its first “in-store” offices at Johnstown and Altoona Walmart Supercenters. A third “in-store” office was opened at the Greensburg Walmart in 2005. This was our first office in Westmoreland County. Assets grew to $679 million by the end of 2010.
We recently added Mobile Banking services and we continue to contribute financially and in volunteer service in our communities.