February 1, 2013
Daniel J. Schaffer assumes additional responsibilities as Chief Executive Officer of The First National Bank, John T. Parry retains position as Chairman
The Board of Directors of The First National Bank and Trust Company of Newtown announced the bank’s current President, Daniel J. Schaffer, has assumed the position of CEO effective January 15th in addition to continuing his ongoing responsibilities as the bank’s president. John T. Parry, the outgoing CEO will continue in his role as the bank’s Chairman of the Board of Directors.
“This is the next logical step in what has been a seamless transfer of authority,” said Parry. “Dan took over as president of the bank in November of 2011 and he has excelled in his leadership role as the board knew he would.”
Schaffer’s rise through the ranks is typical of the bank’s long history of promoting from within. Prior to being named President, he was previously a branch manager, a mortgage officer, a commercial lending VP, and a member of the Board of Directors.
Schaffer attended Penn State and the American Banking Association’s Stonier Graduate School of Banking. He was the original branch manager for The First National Bank’s Solebury branch when it opened in 1999 and he will continue to retain responsibility as the bank’s current Senior Lending Officer.
“The First National Bank is a unique institution in Bucks County – we are the oldest bank in the county and we have played a central role in supporting the growth of our communities,” said Schaffer. “From issuing loans to local businesses to helping families buy their first homes, The First National Bank has been a constant and loyal partner to the people of Bucks County. We continue to be independent as we have been since our founding back during the Civil War, and that independence and commitment to our neighbors will remain a constant going forward.”
Founded in 1864, The First National Bank is Bucks County’s oldest bank, with twelve branches throughout Bucks County. The First National Bank is committed to local ownership, operation and investment.