Apollo Trust plans expansion into Allegheny County
Apollo Trust Co. announced on Monday its planned expansion into Allegheny County by the end of the year. The bank will open a loan production office at 1250 Freeport Road in O'Hara Township near the Waterworks Mall. The new office will serve the Allegheny County market for both commercial and residential mortgage lending.
Founded in 1871, Apollo Trust operates five branch offices and a separate drive-thru facility in the Alle-Kiski Valley.
President and CEO Nelson L. Person said, “The bank has been lending in Allegheny County since 2009, and the new office will make this activity more convenient for our customers and create additional commercial and residential mortgage lending opportunities. The efficiencies of a loan production office facilitate growth while controlling overhead expense. Also, the new location is centrally located in the lower Allegheny Valley and is a logical extension of our market.
This represents Apollo Trust Company's first physical expansion since 1996, and we look forward to sharing our successful record of service to our local customers and community in Allegheny County.”
The bank also announced the recent hiring of two executive officers. Robert J. Flanyak Jr. joined the organization as vice president, retail banking and branch administration. Bob Flanyak returns to his native Western Pennsylvania following a career working in east coast credit unions. Robert V. Addoms joined the bank as vice president, senior commercial banking officer and will lead Allegheny County expansion in the new loan office. Bob Addoms has spent his banking career serving retail and commercial clients throughout Allegheny County and surrounding areas. He has extensive experience building awareness and promoting the advantages and flexibility of the community bank business model for commercial clients and real estate investors.
Apollo Trust is the operating subsidiary of Apollo Bancorp, Inc. Total assets of the bank holding company were $150 million, and retail deposits totaled $113 million as of Sept. 30, 2012.
Apollo Trust currently operates five banking locations in the Alle-Kiski Valley: Apollo, Allegheny Township, North Apollo, North Washington and Spring Church.
It also provides fiduciary services and wealth management.
More information is available at the company's website: www.apollotrust.com.