Somerset Trust Holds Annual Meeting
Published on July 23, 2019
The Somerset Trust Holding Company recently held its annual meeting at the Somerset Trust Historic Building on North Center Avenue in Somerset. Somerset Trust Company is the sole subsidiary of Somerset Trust Holding Company.
G. Henry Cook was elected Chairman of the Board and Chief Executive Officer. Thomas J. Cook was elected Vice Chairman of the Board and President.
Corporate shareholders elected G. Henry Cook and Thomas J. Cook to serve a three-year term as directors. Andrew Cook, Barbara Davies and John Kriak were named Directors Emeritus. Other Board members are Vickie L. Beer, Jon C. Clapper, Sean C. Isgan, James G. Knepper, Jr., Troy A. Miller, Ann B. Persun, and J. Scott Roberts. The Directors also appointed Jeffrey P. Anzovino and Sean Cook to serve one-year terms.
Sean Cook joined the bank’s staff in 2012 and is Senior Vice President and Assistant to the Chairman at Somerset Trust Company. He holds degrees from the University of Pittsburgh, Carnegie Mellon University Tepper School of Business and the American Bankers Association Stonier Graduate School of Banking.
Jeffrey P. Anzovino, CPA, MSA, is a managing partner with Deluzio & Company, LLP, certified public accountants and business consultants located in Greensburg. Anzovino is also an adjunct professor at St. Vincent College in Latrobe.
Somerset Trust Holding Company reported first quarter earnings of $2.34 million. Net interest income continued to grow, driven by commercial lending particularly in Fayette and Westmoreland Counties, and a rise in the Bank’s net interest margin. A new bank office opened in Greensburg on East Pittsburgh Street, which will be developed into a hub location for the Greensburg area. The bank is also completing work on a new hub office in Uniontown, as well as a branch inside the Westmoreland Mall. Additionally, work is set to begin on a branch in Schellsburg in Bedford County.
The bank has 35 branches throughout Somerset, Cambria, Bedford, Fayette and Westmoreland Counties in Pennsylvania and Garrett County in Maryland. In addition to ATMs throughout the region, the bank offers an award winning mobile banking service, STC Anywhere.
This year, the bank is celebrating 130 years as an independent community bank. It is the last locally owned bank headquartered in Somerset County. Comments CEO G. Henry Cook, “We will always remember the traditional philosophy of community banking which has been the root of our existence for over 130 years.”