The new board of directors for the Coatesville Savings Bank has been elected. Left to right: (Front row) Robert Hennessy, John Forese, Frederick Henrich, Thomas Greenfield. (Back row) M. Joye Wentz, John Pinno, Ronald Hughes.
Forese resigns as chair and CEO of the bank
COATESVILLE — Coatesville Savings Bank has announced that John Forese has stepped down as chairman of the board of trustees and Chief Executive officer, effective immediately and has been replaced by Frederick P. Henrich, who was named chairman and President after the bank’s reorganization.
Forese will remain a member of the Board of Trustees; a position he has held since joining the Board in 1982.
Forese was named chairman of the bank’s board of directors in 2005 and assumed the role of CEO in June 2009. During his tenure the Bank has grown and changed from a traditional savings and loan institution to a mutual savings bank and now provides commercial services and business accounts as well as residential mortgages, loans, savings, and certificate accounts.
During his tenure as Chairman, the bank added a branch office in the Georgetown area in Lancaster County, and now maintains four, full-service offices, Internet banking services, and Remote Deposit Capture services. John and his wife, Myra, are long-time residents of Coatesville and remain very active in various community organizations.
Henrich had been serving as the bank’s president since June, 2009. A resident of Berks County, Henrich has been in banking for more than 30 years filling various positions at the former Bank of Pennsylvania and the former First National Bank of Leesport. He is a past president of the Berks County Chapter of the American Institute of Banking, and a former leader of Cub Scout Packs 238 and 305 in Reading. He is currently a member of the Knights of Columbus, Light of Christ Council in Sinking Spring, and the Coatesville Rotary.
As part of the reorganization meeting, Robert Hennessy and Thomas Greenfield were re-elected to serve three-year terms as Board members. Other members of the Board of Trustees include M. Joye Wentz, Ronald Hughes, and John Pinno.
Coatesville Savings Bank is a community savings bank with $196 million in assets, based in Coatesville, with offices in Oxford, in Chester County, New Holland and Georgetown, in Lancaster County. It was founded in 1919 and currently employs 31 people.
