Abington Bancorp, Inc. · Jenkintown, PA United States ·(NASDAQ (GS): ABBC)
Company Description
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This link will open in a new window Abington Bancorp is young, but its bank is old. Formed in 2004, the holding company (formerly Abington Community Bancorp) owns Abington Bank, which was established in 1867. The community bank has about 20 branches in southeastern Pennsylvania, north of Philadelphia. The bank offers such standard products as checking and savings accounts, debit cards, and loans. Residential mortgages account for more than half of the company's loan portfolio, which also includes construction loans, commercial and multi-family real estate loans, and home equity lines of credit. To read the full description, subscribe now.
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Key Abington Bancorp, Inc. Financials
| Company Type | Public - NASDAQ (GS): ABBC Single Location |
| Fiscal Year-End | December |
| 2008 Sales (mil.) | $32.8 |
| 2008 Employees | 177 |
Abington Bancorp, Inc. Executives
11 executives listed for Abington Bancorp, Inc.'s Jenkintown, PA location.
| Title | Name & Bio | Contact |
| Chairman, President, and CEO, Abington Bancorp and Abington Bank | Robert White | Network |
| SVP and CFO, Abington Bancorp; SVP, CFO, and Treasurer, Abington Bank | Jack Sandoski | Network |
| SVP and Secretary, Abington Bancorp and Abington Bank | Edward Gormley | Network |
Competition
Competitive Landscape for Abington Bancorp, Inc.
Demand for banking services is closely tied to economic activity and the level of interest rates. The profitability of individual banks depends on marketing skills, efficient operations, and good risk management. Large economies of scale exist in some segments of the industry, which has encouraged industry consolidation. Smaller banks can compete successfully in segments where customer service or knowledge of the local market is more important. The industry is capital-intensive and highly automated: annual revenue per employee is close to $300,000. Many banks and thrifts aggressively offered adjustable rate and subprime mortgages during the housing boom of the early 2000s only to find themselves saddled with loan defaults and extensive losses when the housing bubble burst. Deep exposure to subprime mortgages and mortgage-backed securities caused bank failures, government takeovers, and involuntary mergers. To read the full description, subscribe now.Top Abington Bancorp, Inc. Competitors
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