-
Fox Chase Bancorp (FXCB) in Hatboro, Pa., wants to discard its federal thrift charter.
August 8 -
Thomas Petro discusses how proactive changes might have kept the Pennsylvania company from failing.
February 21 -
Fox Chase Bancorp (FXCB) in Hatboro, Pa., is planning to restructure its balance sheet this quarter in an effort to better position itself for potential changes in interest rates and improve its net interest income.
June 6
Fox Chase Bancorp (FXCB) in Hatboro, Pa., has won permission to ditch its federal charter.
Regulators gave the $1.1 billion-asset company permission to switch to a state charter, it announced Thursday. It has also been approved to convert to a bank holding company from a thrift holding company. Fox Chase expects the conversion to take place in the fourth quarter.
The conversion will allow the company to focus on commercial lending, Fox Chase Chief Executive Thomas Petro said. In
"Commercial loans now represent more than 75% of the bank's loan portfolio," Petro said in the news release Thursday. "The new charter will allow us to continue the strong growth of our commercial lending business, which has experienced a 41% compound annual growth rate over the past six years."
Fox Chase has
