Somerset Trust Holding Company Issues Annual Report
Published on March 31, 2022
Vice President, Interim Treasurer & Chief Financial Officer
Vice President, Marketing & Customer Experience Officer
Somerset Trust Holding Company Issues Annual Report, Retains BKD, LLP as Accountants, Announces Annual Meeting
SOMERSET, PA (March 31, 2022) ‐ Somerset Trust Holding Company (OTC Pink: SOME), the holding company of Somerset Trust Company, has issued its Annual Report for the years ended December 31, 2021 and December 31, 2020, which is available on the Company’s website at www.somersettrust.com, under the About Us button on Shareholder Info page. SR Snodgrass, P.C. (“SRS”) served as the independent registered public accounting firm for the periods covered in the Annual Report. During the Company’s fiscal years ended December 31, 2021 and December 31, 2020 and the subsequent interim period through March 21, 2022, during which SRS served as the Company’s independent registered public accounting firm, there were no disagreements with SRS on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedures, which disagreements if not resolved to the auditor’s satisfaction would have caused them to make reference in connection with their opinion to the subject matter of the disagreement. The Company has decided not to retain SRS as the independent registered public accounting firm for the 2022 fiscal year. The decision not to retain SRS was approved by the Audit Committee and reported to the full Board of the Company.
On March 14, 2022, the Company approved the appointment of BKD, LLP (“BKD”) as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2022. The decision to retain BKD was approved by the Audit Committee and reported to the full Board. Such appointment of BKD is scheduled to be presented to the Company’s shareholders for ratification at the Company’s Annual Meeting.
Somerset Trust Holding Company has announced the date of its Annual Meeting to be held at the Company’s Historic Trust Building, located at 131 N. Center Avenue Somerset, PA, on Tuesday, May 17, 2022 beginning at 2:00 PM.
About Somerset Trust Holding Company
Somerset Trust Holding Company, the parent entity of Somerset Trust Company, is headquartered in Somerset, Pennsylvania. As a community bank, Somerset Trust Company represents a network of over 40 branches throughout Somerset, Cambria, Fayette, Westmoreland, and Bedford Counties in Pennsylvania, and Garrett and Allegany Counties in Maryland, as well as a loan production office in northern Virginia. The bank has been independent and locally managed since its establishment in 1889, and is one of the last independently owned banks in the region. Today, Somerset Trust Company maintains over $1.8 billion in assets and employs over 475 employees. In addition to consumer and commercial lending and deposit products, the bank offers Trust and Investment Management, an extensive ATM network including fee free use at over 55,000 ATMs, and award winning online and mobile banking for consumers and businesses. Somerset Trust is committed to providing excellent service and competitive products, as well as maintaining a high profile in the growth and economic development of the markets it serves.
Somerset Trust is pleased to announce the completion of their merger with the First Bank of Lilly.
We are excited to be expanding our footprint in Cambria County.