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PENNINGTON: Thriving HVC Bank celebrates 10th birthday

Bank recently reported that 2008 earnings were up 54 percent over 2007

   Despite the troublesome ecomony, the Hopewell Valley Community (HVC) Bank is thriving.
   The bank is celebrating its 10th anniversary, about a month after reporting that its 2008 earnings were up an impressive 54 percent over 2007.
   At its headquarters in Pennington Feb. 19, the bank held a brief ceremony marking the completion of its first decade in business.
   Mayor Vanessa Sandom of Hopewell Township attended and said the bank has been a very good neighbor as well as an able and accommodating business.
   ”It seems like only yesterday that the Hopewell Valley Community Bank came to the Valley, but in those few short years the bank has made a tremendous difference to our community, Mayor Sandom said.
   ”Not only do they provide a great service to their retail and commercial customers, but they have been community leaders supporting countless volunteer efforts as well. They are a good friend and a great neighbor, and we wish them a happy 10th anniversary and hope to celebrate many more in the years to come,” she added.
   The banking business always is going to be complex, but sticking to certain basics still has a lot to do with the HVC Bank’s success, said Pat Ryan, chairman of the board.
   ”The fact that we’ve been able to remain profitable since a year after we started is a tribute to the fact that we don’t do anything fancy,” Mr. Ryan said. “We take deposits and make loans to people and businesses we know in the Hopewell Valley community.”
   The HVC Bank has $260 million in assets, 65 full-time employees, six full-service branch offices and two loan offices.
   ”Three of our branch offices are in Hopewell Valley, which fulfills our promise to serve the whole community,” Mr. Ryan said. “I’m amazed that 10 years has passed and grateful we’ve succeeded in our mission to be a true community bank.”
   Reflecting on the first 10 years, HVC Bank President Jim Hyman said: “The strong feeling I have about it is that we have tried to stay true to the purpose of starting the bank in the first place, which was to be responsive to local residents and businesses.”
   He promised: “We will continue to deliver on tech-products and services.”
   Mr. Hyman said in-the-works projects include increasing online banking services to include monthly statements that could be saved on a computer and/or printed out at the customer’s home or place of business.
   With the exception of Douglas Borden, who joined the HVC Bank board of directors a year ago, the bank has had the same board members since its inception. One of them is Chris McManimon, a former Pennington Borough councilwoman.
   ”We’re still doing well when so many banks are in trouble,” Ms. McManimon said during the anniversary celebration. “We’re a local bank, and we’ve made it 10 years. It’s nice to be part of something successful! How well we’ve done speaks volumes about the work of Pat Ryan, Jim Hyman and the other officers of the bank.”