I am very pleased to announce Tim Abell will become CEO effective Jan. 1, 2023. As part of the transition, I will become Executive Chairman of the Board and, of course, remain owner of the bank. I will focus more fully on Firstrust’s continued growth as well as the expanding philanthropic work of The Green Family Foundation.

This is a move that has been long planned, and it will ensure business continuity for our customers and our employees.

Any transition is significant, especially for a family-owned company like Firstrust, but ours is made easier by the fact that so many of you know, respect and admire Tim and all that he represents and all that he has meant to Firstrust for the last 18 years. Tim will now serve as both CEO and President, and I’m looking forward to his leadership in his role.

When my grandfather, Samuel A. Green founded Firstrust in 1934, he sought to serve his community with the highest standards of banking and service, and it’s a legacy that we honor today. As Philadelphia’s Hometown Bank, we strive every day to know you not just as customers but as friends and neighbors and to ensure that you have all that you need to prosper and to grow.

Let me say it’s been an honor to have served as CEO, succeeding my father Daniel, and leading Firstrust Bank through the transition from a thrift to a commercial bank, through the Great Recession and through the COVID-19 pandemic.

Along the way, we’ve cultivated prosperity for our customers and the communities we serve to become the region’s largest family-owned financial institution with approximately $5 billion in assets, and one of the most consistently top-performing banks in the nation.

While I will always remain available to you if needed, I’m confident Tim will continue to uphold the traditions of Firstrust, while finding new and innovative ways to grow the business and serve customers like you.

Here is a link to the news release.

Please join me in welcoming Tim to this new role! With warm regards,

Richard
Executive Chairman and Owner