Fidelity Bank executives, alongside local elected leaders and community members, attended the ceremonial ribbon cutting at the new Fidelity Bank Corporate Center with Fidelity President and CEO Dan Santaniello and Board Chairman Brian Cali. The ceremony marked the reopening of the restored and renovated landmark Scranton Electric Building.
The total cost of the building’s renovation was approximately $30 million. To support the renovation, Fidelity received a total of $9 million through the Commonwealth’s Redevelopment Assistance Capital Program (RACP), including a $5 million grant to complete exterior repairs, roof replacement, interior updates, and critical mechanical and electrical upgrades.
The project consolidated multiple Fidelity offices into one space, relocated its Downtown Scranton branch, and brought its Wealth Management Center to the first floor of the building. The new Corporate Center was also designed to support future growth as Fidelity anticipates expanding its workforce with the building’s additional space.
“Scranton plays a vital role in the strength and growth of our region, it truly is the keystone of Northeastern Pennsylvania,” said Dan Santaniello, President & CEO, Fidelity Bank. “As we welcome clients and bankers into our new Corporate Center, we are proud to bring new energy into this iconic building and further contribute to the revitalization of downtown Scranton.”
Built in 1896 and located at 507 Linden Street, the eight-story building was considered Scranton’s first skyscraper. Fidelity has preserved the building’s iconic, glowing “Electric City” sign that became a symbol of the city’s industrial heritage and revival, in addition to preserving the building’s original woodwork, marble, and brass details, and restored the building’s floors, including the historic ballroom.
“When the historical Scranton Electric building became available, we saw an opportunity, not simply to purchase a building, but to preserve an important piece of Scranton’s history and give it a new purpose — but we needed help,” said Chairman of the Board Brian Cali, Fidelity Bank. “State leaders believed in the opportunity, and the Commonwealth’s investment helped make it possible. Together, we got it done, ensuring that this historic building remains an active and important part of this city for decades to come.”
“Even as we saw this building fall into a little bit of disrepair and understood the challenges one might have in fixing up a building that’s 130 years old, with the Commonwealth’s support and the value that Fidelity has placed on our community, we now have this beautiful building,” said Chairman Thom Welby, Lackawanna County Board of Commissioners.
Fidelity employs 320 Pennsylvanians throughout Northeastern Pennsylvania and its new corporate headquarters will bring 165 professional jobs to Scranton, boost the region’s economy, and create new job opportunities in the years ahead.
