We are headquartered in Hatboro, Pennsylvania, which is approximately fifteen
miles north of Center City, Philadelphia. We maintain two offices in Montgomery
County, Pennsylvania, one office in each of Philadelphia and Chester Counties,
Pennsylvania and three offices in Bucks County, Pennsylvania. All seven of these
branch offices are in the Philadelphia-Camden-Wilmington metropolitan statistical
area. We also maintain three offices in southern New Jersey; one in Atlantic
County and two in Cape May County.
Philadelphia Market Area. The economy of our Philadelphia market area is primarily
dominated by the service sector. According to published statistics, the population
of the five-county area served by our branches totaled approximately 4.1 million
in 2014. The Philadelphia market area is comprised of a highly-educated workforce
and benefits from a diverse local economy as traditional employers in the manufacturing
and financial services industry have been bolstered by growth in the life sciences
and health care industries as well as the information technology and communication
sectors. The median household and per capita income in Bucks, Chester, Delaware
and Montgomery Counties significantly exceeds the comparable figures for Pennsylvania
as a whole, while the median household and per capita income in Philadelphia
County trails the comparable figures for Pennsylvania.
New Jersey Market Area. The economy of Atlantic County is largely dependent
upon the gaming industry in nearby Atlantic City, New Jersey. According to published
statistics, Atlantic County's population in 2014 was approximately 275,000.
The economy in Atlantic County has deteriorated as gaming revenues have declined
significantly in recent years and several gaming establishments closed during
2014 and 2015 due to increased gaming competition from other states. The economy
in Cape May County relies on the tourism and hospitality industries. According
to published statistics, Cape May County's population in 2014 was approximately
95,000. Additionally, median household and per capita income in Atlantic and
Cape May Counties are lower than the comparable figures for New Jersey as a
whole.
