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| Additional information |
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| Mainline National Bank |
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History:
Mainline National Bank, formerly Portage National Bank was founded in 1944 under the leadership of Philip Stager, our first president. The growth in deposits and loans was a slow, painstaking process developed under the tenure of our first cashier, Norman G. Holsinger and two employees.
After sixteen years, our total assets reached four million dollars. Shortly after the opening of our Route 53 Office in 1963, Leonard Jones, one of the original directors, became president.
During Mr. Jones presidency, the Summerhill Office was opened in 1966, and in 1969, the Portage Office moved from 535 Main Street to a large, newly constructed facility at 737 Main Street. Mr. Jones served as president for ten years.
In 1973, Sam Randall, the last remaining member of the original Board of Directors, was elected president. During his tenure, Portage National Bank’s assets more than doubled. A new drive-up facility was built at the Route 53 location in 1977. In 1978, Neal P. Stager was elected president.
Growth continued in 1984 with the opening of a branch in Southmont and in 1986 with the opening of a branch in the Mini Mall, Ebensburg. In 1992 assets surpassed $95 million and record earnings of $1,013,000 were achieved. An Investment Management and Trust Department was formed in May 1992 to provide a full range of Trust Services to our customers.
In 1993, Neal P. Stager was elected chairman of the board. Under Mr. Stager’s tenure, Mainline Bancorp, Inc was formed in July of 1993. The formation of a holding company provided the opportunity for potential expansion of our franchise into additional bank and non-bank activities to enable the bank to provide new and more diverse products/services and income producing ventures.
In July of 1994, Portage National Bank acquired The First National Bank of Gallitzin, ending the year with assets of $123 million.
Growth continued in January of 1996, with the opening of the Bank’s first in-store branch, located at the County Market in Richland. Also, in 1996, a newly constructed Administrative Center was completed providing much needed work space and room for further expansion. Assets reached over $126 million.
In 1998, Portage National Bank entered in an agreement enabling us to offer customers mutual funds, annuities and discount brokerage services, as well as insurance products. The decision was also made to open the Bank’s second in-store branch at the WalMart Super Center, Ebensburg.
The branch was operational and ready to accept customers on January 27th, 1999. In June 1999, Portage National Bank added its ninth community office in Loretto.
In October 2000, Dennis M. McGlynn was elected Chairman of the Board and JoAnne Brinzey was appointed President of Portage National Bank/Mainline Bancorp. This was followed by the Appointment of William J. Hoyne as Chief Executive Officer of Portage National Bank and Mainline Bancorp, Inc. in July 2001. Upon Mrs. Brinzey’s retirement in January 2005, Mr. Hoyne assumed the position of President and Chief Executive Officer of Portage National Bank/Mainline Bancorp.
Portage National Bank celebrated the opening of its tenth community office location in Altoona, May 2005. In August 2005, Portage moved its Giant Eagle branch, formerly the County Market branch, to a temporary location in the Galleria Mall due to the unexpected closing of the Giant Eagle/County Market store. In 2006, this office was permanently relocated to a newly renovated, state of the art facility on Scalp Avenue in Richland.
In April 2007, Portage National Bank closed its WalMart Super Center location due to a change in demographic and management philosophy. Portage National Bank then closed its Route 53 Office in November 2007, due to its close proximity to the Main Street office.
On June 1, 2008, Portage National Bank changed its name to Mainline National Bank to better reflect its expanded service areas and the heritage of the communities it serves. Also in 2008, Mainline formed a consumer discount service company, Heritage Loan Services located in Ebensburg.
Mainline National Bank is currently the sole subsidiary of Mainline Bancorp, Inc., the Bank’s holding company, which boasts over $235 million in assets with eight branches located in Cambria and Blair Counties. |
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| Formerly known as:
Portage National Bank |
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