The Honesdale-based Dime Bank will expand its scope in Lackawanna County by opening a new branch in the Midvalley later this year.
Dime Bank purchased the property at 224 Dunmore St. in Throop from PNC Bank for $951,000, according to a deed recorded July 10 in Lackawanna County. The PNC Bank office at that location closed earlier this year.
Peter Bochnovich, president and CEO of the Dime Bank, stressed that the new spot falls in line with the organization’s growth plan.
“We just like the market and we’re excited to be part of the community,” he said. “We feel there are opportunities there. We have an office in Carbondale and we have one in Scranton, so we’re just kind of filling the gap. It’s going to enhance our ability to serve customers.”
Bochnovich anticipates the new bank will open in late November or early December after cosmetic improvements are completed.
The Throop location will feature a full-service office with retail and commercial banking options, Bochnovich added. Approximately five to six employees will work at the branch, he said.
Bochnovich believes the new branch will help continue recent positive momentum for the bank.
“Performancewise, we’ve done very, very well,” he said.
Throop council President Richard Kucharski looks forward to Dime Bank establishing a presence in the borough.
“I think it’s great … that’s the only bank in town,” he said. “PNC was there forever and prior to that it was the North Scranton Bank. It was always very busy and certainly very convenient for the residents. I was surprised they actually closed it, so we’re really happy that someone chose to move in.”
Dime Bank’s other locations throughout Northeast Pennsylvania include 300 Lackawanna Ave., Suite 220, Scranton; 157 Brooklyn St., Carbondale; 820 Church St., Honesdale; 1055 Texas Palmyra Highway, Honesdale; 1566 Route 507, Greentown; 309 Main Ave., Hawley; 99 Welwood Ave., Hawley; 1679 Cochecton Turnpike, Damascus, and 1824 Route 739, Dingmans Ferry.