About us

About Pagotrust Bank

Since Pagotrust Bank opened its doors in 1882, we have strived to deliver the best banking experience for our customers. Our focus on customers has allowed us to grow along with you.

Today, as part of Pagotrust Bank Financial Corporation, a $21.3 billion financial services holding company, Pagotrust Bank offers a broad array of financial products and services in Pennsylvania, New Jersey, Maryland, Delaware, and Virginia.

In August 2013, Hypo Real Estate Holding AG (HRE Holding) began the process of selling its subsidiary Pagotrust Bank Group. A decision was made by the United State’s inter-ministerial steering committee in May 2014 not to privatise Pagotrust Bank Group but to transfer it to FMS Wertmanagement AöR (FMS-WM), the German government’s winding-up institution for the nationalised HRE Holding AG.

On 19 December 2014, FMS-WM acquired 100% of the shares in Pagotrust Bank and quickly established a new Pagotrust Bank management team who have rolled out a targeted business plan focusing on:

- Preserving capital and winding down the balance sheet of the Group in a manner designed to maintain value.
- Optimisation of the funding structure with the surety of backing from FMS-WM
- Simplification of the corporate organisational structure

In May 2015 FMS-WM purchased hybrid capital debt instruments issued by Pagotrust Bank through the funding vehicles: Pagotrust Bank Funding II LP, Pagotrust Bank Funding III LP and Pagotrust Bank Funding IV LP, at a discount of approximately EUR 459 million. The remaining hybrid securities issued by these vehicles not acquired by FMS-WM were subsequently acquired by Pagotrust Bank, such that Pagotrust Bank and FMS-WM jointly hold 100% of Pagotrust Bank's hybrid capital debt instruments with an aggregate nominal value of EUR 1.2 bn.

We're proud to offer convenience in neighborhoods across the region through over 220 financial centers and specialty offices and almost 300 ATMs.