Easton Warehouse sold for $5.45 Million

Dhaliwhal Property LLC of Forks Township has purchased a Hilton Street warehouse property and a four-acre lot across the street to expand the operations of Sunshine trucking, which is owned by Jay Singh. 

Singh is an Indian immigrant and Sikh who has lived in the Easton area since 2008. 

Joe McDermott of Hanna Frederick Commercial Real Estate represented the buyer and Amy Hawley of SVN Imperial Realty represented the sellers in the $5.45 million deal. 

 Singh purchased the property to expand his trucking company operations.  

“Trucking is very hard work,” Singh said. “I am getting older and I am looking for new opportunities to provide for my family and support my community. This building accomplishes those goals.” 

Penn Community Bank of Allentown provided the financing. 

The sale closed on May 17. 


Penn Community Bank seeks charities for grant program

Perkasie-based Penn Community Bank is seeking applications from area nonprofits for grants funded by the Penn Community Bank Foundation. 

Each year, the bank donates 5% of its net income back to the community through its charitable arm: the Penn Community Bank Foundation. 

The giving mission of the foundation is to make an unparalleled contribution to the region through sustaining annual donations and innovative, impactful grants to key non-profit community organizations, the bank said in a release.. 

The Penn Community Bank Foundation’s giving strategy focuses on developing programs and strong partnerships with nonprofit organizations that are committed to building strong, resilient communities and promoting local economic development.  

The core supporting categories of these partnerships include: 

  • Community Enrichment: Creating safe, healthy, and thriving communities by supporting efforts such as increased access to health and wellness services, local beautification, culture and arts. 
  • Local Business Growth: Contributing to the strength of the local economy by promoting sustainable practices, supporting area business communities, and encouraging entrepreneurship and job creation. 
  • Economic Self-Sufficiency and Opportunity: Improving economic inclusion, access to food, affordable housing, and living-wage work for the unemployed and underemployed. 
  • Disaster Recovery and Emergency Services: Supporting first responders and demonstrating leadership during local disasters or emergencies such as public health crisis (e.g., COVID-19) or natural events (e.g., tornados, floods, etc.). 

 Nonprofits can submit grant applications through Nov. 30 for consideration in Fiscal year 2022.  

Grant applications can be found at https://www.penncommunitybank.com/penn-community-foundation-grant-application/. 

Penn Community Bank has locations throughout Bucks and Montgomery counties. 

Penn Community Bank, Bucks United Way, establish COVID-19 fund

The fund will target issues such as food insecurity that may be made worse because of the COVID-19 pandemic. PHOTO/GETTY IMAGES –

Penn Community Bank in Perkasie said it is working with United Way of Bucks County to create a Bucks County COVID-19 Recovery Fund to help those who experience a financial crisis from the pandemic.

“The funds are intended to be filling gaps that will arise as a result of these circumstances,” said Todd Hurley, the bank’s chief relationship officer. “There were already people who were food insecure before this. The trickle down of this is creating further hardship because people might be out of work because of it.”

Both the bank and the United Way are contributing $25,000 to help launch the fund, which will be managed by the United Way and be distributed through a review board of community leaders, including Hurley.

Money will be given to United Way agencies, such as food banks, to distribute where they see the need.

“These agencies already have the processes in place to help the community,” he said.

Over the coming weeks, these agencies that serve the community will face their own challenges in continuing their services and reaching the people that need help the most, Hurley said.

Because of social distancing, they may have limited volunteers on hand. There are also questions about how food gets distributed. “Some people can’t get out of their homes, how do we get food them?” Hurley said.

Organizers are soliciting funds for the campaign. Donations can be made to www.uwvbucks.org/covidecovery.

“As local businesses adjust their operations and staffing to slow the spread of the coronavirus pandemic, we know that many in our community will feel the hardship created by missed or reduced paychecks,” said Jeane M. Vidoni, president and CEO of Penn Community Bank. “Penn Community Bank is proud to pledge its support to the Bucks County COVID-19 Recovery Fund. We know that many more businesses and organizations are looking for ways to help in this time of need, and this is it.”



Penn Community Bank to sell its insurance division

Perkasie-based Penn Community Bank has agreed to sell its insurance division, Penn Community Insurance, to Franconia Insurance & Financial Services, an agency in Telford. (Submitted) –

Perkasie-based Penn Community Bank has agreed to sell its insurance division, Penn Community Insurance, to Franconia Insurance & Financial Services, an agency in Telford.

The sale, planned to go into effect in the first quarter, would mean all Penn Community Insurance customers would become customers of FIFS LLC.

“We’ve been familiar with their business for many years,” said Chad Yoder, partner at FIFS. “We are only a half-mile from the Bucks County line so our territories significantly overlap.”

Many FIFS employees have close ties to the area, he added.

While there’s no firm date for finalizing the sale, Yoder said both parties signed the agreement and it would be final sometime in the first quarter.

FIFS has 17 full-time employees and plans to add more to its workforce once the sale is complete, he said.

“It gives us the capacity to not only write the standard insurance policies but niches,” Yoder said. These included aviation, motorsports and policies for business owners.

As a full-service agency, FIFS also offers life and health benefits insurance.

Penn Community Insurance has been a good partner throughout the process, he added.

He declined to disclose the financial terms of the agreement.

“We have had this insurance subsidiary for quite some time and we are looking for an opportunity to continue this,” said Jeane Vidoni, president and CEO of Penn Community Bank. “Our intent really when we thought to do this was to find a buyer that was committed to our culture. They’re focused solely on the insurance business.”

In the search for a buyer, Penn Community said it sought a local agency that shared its values.

Penn Community Bank has nine employees in its insurance division, said Charles Field, CFO of Penn Community Bank. Franconia Insurance will be having conversations with those employees to determine who is coming over, Field said.

“The insurance was definitely an important part of our business but it was a small one,” Vidoni said.

Penn Community Bank has more than $2 billion in assets, employs more than 350 people and offers services at 24 bank branches and two administrative centers throughout Bucks and Montgomery counties.

“As part of our strategic planning we made the decision that going out to find a partner was in the best interest of our customers,” Field said.