First Federal of Bucks County promoted Allentown native Jeane M. Coyle as president and CEO, effective July 1. Coyle previously served as the bank's executive vice president and chief administrative officer and has worked in the financial industry since 1983.
She is looking forward to taking the lead in her new role.
"In the financial services industry, the challenges out there for any size institution are increased [federal] regulations," Coyle said. "We have to make sure we have enough money to serve our customers. We've been handling it well so far. It's all about managing risk as we try to grow the bank."
As a federally chartered, mutual savings bank, First Federal does not trade stock. The bank has to earn money and retain it to build its capital, Coyle said. This allows for more flexibility in decision-making and gives executives opportunities to focus on the long-term view.
"It's a luxury not to have that pressure," Coyle said.
She said her plan is to keep the bank growing while seeking fresh markets so it's still successful when she's gone.
"We have a plan for market expansion into Doylestown; that's our charge over the next couple of years," Coyle said.
So what does success look like?
"I really do believe that my success started to accelerate when I started to focus on other people," Coyle said. "That's when it really started to work. It's about doing your job and being more outwardly focused."
This includes of course, serving the customer.
She started her career in banking as the advertising manager of the First National Bank of Allentown and remembers being there for the introduction of the ATM and later in the 1980s when debit cards were introduced.
"Everyone thought there would be no tellers," Coyle said.
She spent the last 30 years at both small and large financial institutions, managing retail banking, marketing, operations, technology and strategic planning areas.
In 2006, Coyle joined First Federal of Bucks County, which serves small and mid-sized businesses and consumers in Bucks, Philadelphia and Montgomery counties. In her new position, she works out of both the Bristol headquarters and Yardley office.
Bruce Iacobucci, outgoing president and CEO, encouraged Coyle in taking the lead.
"We are all confident that Jeane, the supporting management team and board of directors will continue to guide First Federal of Bucks County into another era of success," Iacobucci said in a news release.