Penn Community Bank is headquartered in DOYLESTOWN and is the 18th largest bank in the state of Pennsylvania. It is also the 415th largest bank in the nation. It was established in 1922 and as of June of 2023, it had grown to 306 employees at 21 locations. Penn Community Bank's money market rates are 10X the national average, and it has a B+ health rating.
I received a letter on the 30th of December notifying me that my account was currently in inactive status and that I needed to make a deposit to return it to active status.
I tried to make a deposit using the mobile app but it was rejected. I called the bank on January 3rd to get help to make the deposit and was informed that I could not because the account was inactive and that I had to mail or come to the bank to make the deposit.
I was not notified by mail or the weekly text sent with the account balance that I would be charged an inactivity fee of $5.00.
The bank teller said that they usually send three letters before changing the status and charging the fee, but I didn't get any warning. The only letter received said that it was currently in inactive status and didn't mention anything about a fee charged.
I feel that this was a deceptive practice and was only used in an attempt the generate fees. This is not a good business tactic or good customer support. One would expect that the fee would be waived to a good customer with a credit rating in the 800's.
Overall | |
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FDIC Certificate # | 30401 |
Year Established | 1922 |
Employees | 306 |
Primary Regulator | FDIC |
Profit Margin | |
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Return on Assets - YTD | 0.61% |
Return on Equity - YTD | 6.39% |
Annual Interest Income | $56.0MM |
Assets and Liabilities | ||
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Assets | Q2 2023vs Q2 2022 | $2.79B$2.63B |
Loans | Q2 2023vs Q2 2022 | $1.80B$1.61B |
Deposits | Q2 2023vs Q2 2022 | $2.14B$2.25B |
Equity Capital | Q2 2023vs Q2 2022 | $263.7MM$270.1MM |
Loan Loss Allowance | Q2 2023vs Q2 2022 | $18.8MM$17.3MM |
Unbacked Noncurrent Loans | Q2 2023vs Q2 2022 | $1.1MM$1.5MM |
Real Estate Owned | Q2 2023vs Q2 2022 | $0$0 |
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.
APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
---|---|---|---|---|
0.03% | - | - | Professional Business Checking | |
0.03% | - | - | Commercial Professional Business Checking | |
0.03% | - | - | Relationship Checking |