Centric Financial Corporation President and CEO Patti Husic Honored as One of American Banker's Most Powerful Women to Watch

Rhea-AI Summary

On October 5, 2022, Patti Husic, President & CEO of Centric Financial Corporation (CFCX), was recognized as one of American Banker's Most Powerful Women to Watch. Under Husic's leadership, Centric Bank has grown into a $1.1 billion institution since its founding in 2007, winning multiple awards including Best Banks to Work For and Top 200 Community Banks. Centric will merge with First Commonwealth Financial Corporation (FCF: NYSE) with the merger expected to close after January 1, 2023, pending regulatory approvals.

Positive

• Centric Bank recognized for leadership with awards like American Banker's Best Banks to Work For.
• Patti Husic's leadership contributed to Centric Bank's growth to a $1.1 billion institution.
• Centric Bank has a strong female representation in leadership (60%) and workforce (70%).

Negative

• Upcoming merger with First Commonwealth Financial Corporation may introduce integration risks.
• Shareholder approvals are necessary for merger completion, creating uncertainty.

HARRISBURG, Pa., Oct. 5, 2022 /PRNewswire/ -- Patricia (Patti) A. Husic, President & CEO of Centric Financial Corporation and Centric Bank ("Centric") (OTC Pink: CFCX), has been selected from hundreds of national top-tier female bankers as one of American Banker's Most Powerful Women to Watch.

Patti Husic is one of American Banker's  2022 Women to Watch in U.S. Banking.

Under Husic's founding in 2007 and sustaining leadership, Centric Bank has grown to a $1.1 billion financial institution and become one of the winningest banks in the country. In addition to achieving American Banker Best Banks to Work For wins in 2021, 2020, 2019, and 2018, four American Banker Top Team recognitions, Top 50 Fastest-Growing Companies for eight years, and Top 200 Community Banks in the U.S. in 2022, 2021, 2020, and 2019, Husic has been one of The Most Powerful Women in Banking for seven consecutive years. A past chair of PA Bankers Association, she is one of only three women to hold the position in the association's 127-year history. Husic also founded PA Banker's Women in Banking Program, now in its tenth year.

With 60% of Centric Bank's executive leadership team female, and 70% of the workforce female, Husic turned rhetoric into reality with her vision for advancing women in banking and finance—no peer bank in Pennsylvania is equal to Centric Bank's number of women in leadership.

"For the past 15 years, Patti Husic has exhibited extraordinary leadership in guiding Centric Bank from its inception, through multiple seasons of national crisis, to eclipsing the $1 billion asset threshold," says Duncan Campbell, President & CEO of PA Bankers Association. "Throughout her career, Patti has served her customers and communities with tremendous passion and dedication. As one of only a few female bank founders in the country, she has long recognized the importance of increasing the number of female leaders in the C-suite for our industry. Patti epitomizes this goal, as evidenced by her seven-member executive leadership team, five of whom are women."

This year, Husic joined a super-elite group of women in the U.S. who have founded a bank and then successfully negotiated its sale. On August 30, 2022, Husic announced that Centric Financial Corporation would merge with First Commonwealth Financial Corporation (FCF: NYSE), a $9.6 billion institution headquartered in Indiana, PA. Husic will join First Commonwealth Financial Corporation and the Bank's board of directors upon completion of the merger, which is expected to close on or after January 1, 2023, subject to certain conditions including regulatory and Centric shareholder approvals.

"The Centric Bank journey has been my greatest opportunity to give back to the community I grew up in and love, and to invest in a team of 140 incredibly talented, generous, and steadfast people. It has been much more than my professional purpose; Centric Bank's growth and impact on our small businesses has been my personal mission for the last 15 years," says Husic. "My next professional chapter opens a new vision of possibility and opportunity, both in business and community service."

"Since our founding in 2007, Centric Bank has thrived as a category of one—we redefined community banking in Pennsylvania and proudly financed brighter futures for more than 6,000 businesses. The Centric Bank Way is embedded in the hearts and minds of our team and will be the perfect complement to the First Commonwealth Bank culture," says Husic.

The Most Powerful Women in Banking^™ program recognizes individuals and teams for demonstrating exceptional leadership skills, strong performance, and a commitment to driving real outcomes for diversity, equity, and inclusion in financial services.

"The 20th anniversary of The Most Powerful Women in Banking represents an impressive milestone and gives us an opportunity to reflect on the past while looking toward the future," says Gemma Postlethwaite, CEO of Arizent, publisher of American Banker. "When I think about what this year's honorees have accomplished as business leaders, as mentors to women in their organizations, as inspiration to the next generation of bankers—I am confident we have the right leaders forging ahead and shaping the industry for the next 20 years and for future generations."

American Banker recognizes leaders in financial services: The Most Powerful Women in Banking, The Most Powerful Women to Watch, The Most Powerful Women in Finance, and Top Teams. The complete rankings, including profiles of all the honorees for 2022, can be found on American Banker's website, as well as in the October issue of American Banker Magazine.

To celebrate the 20th anniversary, American Banker will host three events in New York City. On October 26, 2022, for the first time ever THE MOST POWERFUL WOMEN IN BANKING conference will be an in-person event aboard the historic USS Intrepid aircraft carrier with inspiring discussions, executive networking, and insightful panels on a range of leadership topics. Registration is open to the entire financial services community.

There will be two invite-only honoree events as well. Honorees of The Most Powerful Women in Banking: NEXT program, which recognizes high-achieving executives ages 40 and under, will be celebrated at an invitation-only awards dinner at HK Hall on October 25, 2022. The annual gala for The Most Powerful Women in Banking honorees will close out the ceremonies at The Glasshouse on October 27, 2022.

ABOUT CENTRIC BANK AND CENTRIC FINANCIAL CORPORATION
An American Banker 2021, 2020, 2019, and 2018 Best Banks to Work For, four-time American Banker Most Powerful Women in Banking Top Team, three-time Best Places to Work, and Top 50 Fastest-Growing Companies for eight years, Centric Bank is headquartered in south central Pennsylvania with assets of $1.1 billion and remains a leader in organic loan growth. A locally owned, locally loaned community bank, Centric Bank provides highly competitive and pro-growth financial services to businesses, professionals, individuals, families, and to the health care and dental industries with the Doctor Centric Bank Division. Centric Bank was named one of the Top 200 Community Banks in the U.S. in 2022, 2021, 2020, and 2019.

Founded in 2007, Pennsylvania-based Centric Bank has financial centers located in Harrisburg, Hershey, Mechanicsburg, Camp Hill, Doylestown, Devon, and Lancaster, as well as a loan production office in Devon and an Operations and Executive Office campus in Hampden Township, Cumberland County. To learn more about Centric Bank, call 717.657.7727 or visit CentricBank.com. Connect with them on Twitter, Facebook, LinkedIn, and Instagram.

Centric Financial Corporation is traded over the counter (OTC-Pink) with the ticker symbol CFCX.

Contact: Anne Deeter Gallaher
Tel. 717.580.4856
adg@deetergallahergroup.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/centric-financial-corporation-president-and-ceo-patti-husic-honored-as-one-of-american-bankers-most-powerful-women-to-watch-301641916.html

SOURCE Centric Financial Corporation

FAQ

What recognition did Patti Husic receive in October 2022?

Patti Husic was named one of the Most Powerful Women to Watch by American Banker.

What is the market capitalization of Centric Financial Corporation?

Centric Bank has grown to a financial institution with assets of $1.1 billion.

What are the merger details between Centric Financial Corporation and First Commonwealth Financial Corporation?

The merger is expected to close on or after January 1, 2023, pending regulatory and shareholder approvals.

How many women are in Centric Bank's leadership team?

60% of Centric Bank's executive leadership team is female.

What awards has Centric Bank received under Patti Husic's leadership?

Centric Bank has received multiple awards including Best Banks to Work For and Top 200 Community Banks.