George H. Groves Retires from First National Bank
George H. Groves
Retires from First National Bank Business Leader
Founded The Legacy Bank
Harrisburg, PA - August 3, 2007 - First National Bank of Pennsylvania today announced the retirement of George H. Groves as Chairman of the First National Bank Capital Region and member of the Board of Directors of First National Bank.
Mr. Groves was formerly Chairman and Chief Executive Officer of the former The Legacy Bank, which he founded in 1999.
The Legacy Bank was acquired by First National Banks parent company, F.N.B. Corporation (NYSE: FNB) in 2006.
He will remain a member of the First National Bank Capital Region Community Board.
The successful founding of The Legacy Bank
and its subsequent sale to F.N.B. Corporation
has been a highlight of my career, said Groves
conceived, planned, organized, and led the formation and start up of The Legacy Bank of Harrisburg
, a business focused bank that was the first denovo bank in the Capital Region in twelve years.
Opening with one office in September of 1999, by 2006 the bank operated eight offices in five counties and had approximately $375 million in assets and a Trust Company subsidiary with an additional $160 million in assets under management.
George Groves created a customer-focused bank that was an excellent fit for F.N.B., noted Stephen Gurgovits, President and Chief Executive Officer of F.N.B. Corporation.
has been a widely known business leader in Central Pennsylvania since 1985 when he
moved to Williamsport as Chief Operating Officer, and later President and Chief Executive Officer of Northern Central Bank
, a $750 million affiliate of the former Keystone Financial, Inc., Harrisburg.
After three years, during which he resolved Northerns financial problems and returned the bank to its former position of respect in the community, he was promoted to Executive Vice President of Keystone and later to Senior Executive Vice President and Chief Banking Officer.
At Keystone he
presided over the corporations growth in assets from $2 billion to $7 billion.
Mr. Groves earned a Bachelor of Science in Engineering from the United States Military Academy at West Point.
After discharge from the Army, where he attained the rank of Captain, he completed his graduate studies at the University of Virginias Darden Graduate School of Business, earning a Masters of Business Administration.
He began his banking career in Chicago as a commercial lending officer for FNB Chicago and LaSalle National Bank.
He was a Senior Vice President with Irwin Union Bank & Irwin Union Corporation in Columbus, Indiana prior to joining Nutech, Inc., a $60 million electric power consulting firm, as Chief Financial Officer.
Mr. Groves left Nutech to co-found a business consulting firm, Derr & Groves, that specialized in business acquisitions.
He has served on the Board of Directors and Executive Committee of the Pennsylvania Bankers Association.
He is a past chairman of the Board of Directors of the Williamsport Area Community College, and of the Harrisburg Symphony, and served on the Boards of the Mount Gretna Theater and the Dauphin County Library.
He is currently a member of the Advisory Council for the Pennsylvania State University Harrisburg School of Business.