Bucks County Bank is open for business. The new Doylestown-based institution opened its first branch, at 356 York Road in Warminster. Founder, chairman and chief executive officer John Harding calls it a "soft opening," which will give the bank time to work out any bugs in its system. "We're actually starting full-blown marketing in September," Harding said.
Harding has headed a number of banks, including the old Bucks County Bank & Trust Co. and First County Bank. He said he has spent much of the past year forming the new Bucks County Bank. Earlier this year, the bank sold stock commitments worth $15 million - though it's still waiting for Federal Reserve approval of a 19.9 percent commitment subscribed by Yardville National Bancorp.
The bank's offering circular shows 12 founding directors, including Harding, auto empire owner Fred Beans, Doylestown attorney William Goldman Jr., and developer Chris Chandor. All founders received warrants to purchase stock later at preset prices. Harding received warrants for 41,000 shares; Chandor for 21,000 shares; Beans for 12,500 shares; and Goldman for 6,000 shares.
The bank plans to open other branches, Harding said. It has looked at a Doylestown site on North Easton Road that the Doylestown Investment Group plans to redevelop into a bank and seven townhouses. Harding said he's looking at many sites: "We're also going to look throughout the county."