Philadelphia Business Journal article profiles Conshohocken-based Firstrust Bank

The Philadelphia Business Journal has an article titled “Firstrust Bank focuses on measured growth as Eagles deal pays off and another Green waits in the wings” about how the Conshohocken-based bank has found its position in the regional marketplace, was equipped to survive the January 2023 banking crisis, and has leveraged its sponsorship of the Philadelphia Eagles. From the article:

A major focus for the bank, which is celebrating its 90th year of operation, is its cash management and treasury services for commercial customers, and leveraging its status as the official bank of the Philadelphia Eagles to create more brand awareness.

Green is a minority owner of the Eagles, and the eight-year deal Firstrust reached with the franchise in 2020 includes Eagles-themed banking products, in-stadium signage and naming rights to a private lounge for season ticket holders. In partnership with the Eagles, Firstrust has been promoting a proprietary product called a Touchdown CD — a seven-month CD with a 4% annual percentage yield — as well as an Eagles-themed debit card.

Abell said the bank measures the success of the Eagles partnership through aided and unaided awareness.

“We’ve seen increases there. [We] have measured the accounts that had been opened related to some of the branding that we’ve done around the Eagles, as well as new commercial customers,” Abell said. “I think the more intangible thing is, we still have to earn the business but when someone’s considering a new bank, we’re getting more at bats, because now they know who Firstrust is, and they have a broader impression of what it is that we can do. So I think it’s helped us from that standpoint.”

You can read the full article here.