Centric Financial Corporation CEO Patricia A. Husic Attends Treasury Meeting to Discuss Regulatory Challenges Facing Community Banks

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Patricia A. Husic, President & CEO of Centric Bank, joined a group of community bank CEOs from across the country to meet senior U.S. Treasury officials to discuss a range of topics including the importance of the community bank business model, ensuring regulation is tailored to institutions’ unique characteristics, mortgage reform, lending to small and medium-size businesses, access to capital for community banks, and other key issues.

Patricia A. Husic, President & CEO of Centric Bank, joined a group of community bank CEOs from across the country to meet senior U.S. Treasury officials and U.S. Treasury Secretary Steven Mnuchin.

I was honored to be one of a handful of community bank CEOs who took this message to the Treasury to share our recommendations regarding challenges with outdated federal regulations and their effect on access to financing for small business.

Patricia A. (Patti) Husic, President & CEO of Centric Bank and Centric Financial Corporation, headquartered in Harrisburg, Pennsylvania, joined a group of community bank CEOs from across the country to meet senior U.S. Treasury officials to explore onerous and burdensome regulations that are hindering economic growth and making it difficult for banks to serve their customers and communities.

During the meeting with Treasury officials and U.S. Treasury Secretary Steven Mnuchin, Husic and her colleagues discussed a range of topics including the importance of the community bank business model, ensuring regulation is tailored to institutions’ unique characteristics, mortgage reform, lending to small and medium-size businesses, access to capital for community banks, and other key issues.

“Our core business at Centric Bank, and at many community banks across the United States, is lending to the small business owner. I was honored to be one of a handful of community bank CEOs who took this message to the Treasury to share our recommendations and first-hand experiences regarding challenges with outdated federal regulations and their effect on access to financing for small business and for many other important areas,” says Husic.

“Community banks play a vital role in impacting and driving our nation’s economic growth. They provide 43 percent of all small business loans, while small and medium-size businesses are responsible for creating 64 percent of net new jobs in our country—both very powerful statistics on the impact of community banks and small businesses to our economy. I was also pleased to share the important role the SBA Program plays for the small business customer, the entrepreneurs, and the job creators in our communities. Community banks are the lifeblood to small business. The conversation of how we can reach a balance between growth and regulation was a very positive one. As community bankers, we never lose the focus or the importance of safety and soundness in our institutions. We were able to offer the Treasury officials a valuable perspective on common-sense regulatory changes that would allow Centric Bank, and other community banks, to better serve their customers and communities,” says Husic.

“I left the conversation feeling very optimistic. It was a positive meeting, and I am confident our concerns were heard and will be considered in shaping and reforming banking regulation for the future,” added Husic.

This gathering comes less than a month after several community bank leaders met with President Trump and his economic leaders at the White House to discuss regulatory challenges faced by community banks. The Treasury meeting was pursuant to an executive order from President Trump for the Treasury Secretary to review financial supervision and rules.

Husic currently serves on the American Bankers Association’s (ABA) Board of Directors. She was joined by other ABA bank CEO members from ABA’s Board of Directors and banker committees, as well as CEOs from the Independent Community Bankers of America (ICBA).

ABOUT CENTRIC BANK AND CENTRIC FINANCIAL CORPORATION
A three-time Best Places to Work and Top 50 Fastest-Growing Companies for four years, Centric Bank is headquartered in south central Pennsylvania with assets of $510 million and remains the leader in organic loan growth in central Pennsylvania. A locally owned, locally loaned community bank, Centric Bank provides highly competitive and pro-growth financial services to businesses, professionals, individuals, families, and the health care and agricultural industries. With a Five-Star Bauer Financial Rating, Centric Bank, named a Top 100 SBA 7(a) Lender in the United States in 2016, also ranked #1 in approved SBA 7(a) loans in the Eastern District as of December 31, 2016. The bank is a Top 20 Lender for SBA 7(a) Loans in the Philadelphia Region.

Founded in 2007, Pennsylvania-based Centric Bank has financial centers located in Harrisburg, Hershey, Mechanicsburg, and Camp Hill, and loan production offices in Lancaster and suburban Philadelphia. To learn more about Centric Bank, call 717.657.7727 or visit CentricBank.com. Connect with them on Twitter at @CentricBank and Facebook at Centric Bank.

Centric Financial Corporation is traded over the counter (OTC-Pink) with the ticker symbol CFCX.

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Anne Deeter Gallaher
@CentricBank
since: 08/2012
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