Premier reinforces its commitment to the valley – Business Journal Daily
YOUNGSTOWN, Ohio — Premier Bank has named a new Mahoning Valley Market President in 2021 as Josh Toot replaces veteran banker Frank Hierro, who retired.
“Our commercial team had a stellar year, posting double-digit growth in loans and deposits in addition to the $37 million in PPP loans we provided to our clients,” Toot said. “Our indirect lending group funded a record number of auto loans through local dealerships. And our private banking group provides personalized service to many new clients.
Premier Bank’s commitment to the Mahoning Valley extends beyond banking solutions, according to Toot.
“In addition to our team members’ commitment to our communities, the bank has awarded more than $1.6 million in community support through sponsorships and foundations, much of it here in the Mahoning Valley. he says.
Last spring, the bank announced that it would take significant steps to reduce its impact on climate change. It has converted to renewable electricity and carbon-neutral natural gas to power most of its sites, spokeswoman Diana Timkovich said.
Fall brought the completion of the newly renovated Kirk Road office in Austintown. In November, Premier Bank launched its second annual “Powered By (kind) People. Powered by you. campaign and video series, which pays tribute to community organizations. And in December, the bank hosted the Youngstown Financial Wellness Fair. The free event helped residents improve their knowledge of financial management.
Premier Financial Corp., Premier Bank’s holding company, reported net income of $126.1 million for 2021, compared to $63.1 million for 2020 – or $99.3 million excluding merger-related expenses.
Excluding Paycheck Protection Program loans, Premier saw loan growth of $133 million in 2021, including $106 million for commercial loans, an increase of 3.1%.
“Strong loan growth continues to be the theme as we close out a successful 2021,” said Gary Small, President and CEO.
“PPP-adjusted growth for the fourth quarter totaled 8.7% on an annualized basis. And similar to the third quarter, every lending category grew, with commercial lending leading the way at 10.3%. Premier’s core loan growth for the second half of 2021 totaled 7.0% on an annualized basis,” he said.
Copyright 2022 The Business Journal, Youngstown, Ohio.