Somerset Trust Company Banking and Financial Solutions

Somerset Trust Company offers a range of banking and financial solutions to meet the diverse needs of its customers.

Their personal banking services include checking and savings accounts, as well as loan options such as mortgages and personal loans.

They also provide business banking services, including cash management and investment solutions.

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The Somerset Trust Company has a rich history that spans over a century. It was founded in 1900 by a group of six businessmen led by George R. Scull, who also served as president and director of both the bank and The First National Bank of Somerset.

George R. Scull remained at the helm of both institutions until his death in 1935, when his son John I. Scull took over as president of both banks. John I. Scull would go on to serve as president twice, first from 1935 to 1938 and then again from 1949 to 1953.

The First National Bank of Somerset and Somerset Trust Company were merged in 1953, with Somerset Trust's charter allowing the bank to achieve economies of scale and grow its assets. At the time of the merger, the combined assets of the banks totaled approximately $8 million.

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George Scull Cook became the chief executive officer of Somerset Trust Company after John I. Scull's retirement in 1954, and he led the bank for an impressive thirty-four years. During his tenure, the bank's assets grew to $145 million.

The bank's headquarters were relocated to a new property on West Main Street in Somerset during the 1970s, which was previously home to the print shop of Frederick Goeb, where the first Bible printed west of the Allegheny Mountains was printed. Today, Sean Cook serves as the CEO of Somerset Trust Company.

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Somerset Trust Company offers a range of banking services designed to meet the unique needs of their customers.

Their personal banking services include checking and savings accounts, as well as money market accounts and certificates of deposit.

With online banking, customers can easily manage their accounts, pay bills, and transfer funds from the comfort of their own homes.

They also offer mobile banking, allowing customers to access their accounts on-the-go.

Their business banking services include checking and savings accounts, as well as cash management and merchant services.

Their experienced team is dedicated to helping businesses succeed, with a focus on providing personalized service and support.

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Somerset Trust Company pulls all of its portfolio and financial information directly from the FDIC, ensuring the accuracy and reliability of their reports.

Their financial information is updated regularly from the federal reporting database for all US banks.

The company takes advantage of this system to provide up-to-date and comprehensive financial reports to its clients and stakeholders.

The REO Report is a valuable tool for understanding the state of bank-owned homes and foreclosures. Somerset Trust Company's REO Report shows a significant increase in bank-owned homes, totaling $143,000, which is 48.89% from the previous quarter.

To get a Somerset Trust Company foreclosures list, you need to contact an REO asset manager at the REO department. This can be done by using the button on the right to find workout officers, asset managers, and other contacts at Somerset Trust Company.

BankProspector is a tool that helps you find and qualify banks and bank contacts with distressed assets, including Somerset Trust Company. It's the fastest and easiest way to source your own bank direct deals.

Somerset Trust Company's foreclosures include $200,000 in commercial REO, but no multifamily REO, farmland and agricultural REO, or construction loan REOs.

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The FDIC Call Report is an essential tool for understanding a bank's financial health. All of the portfolio and financial information in the report is pulled directly from the FDIC.

We take updates from the federal reporting database for all US banks, which ensures the accuracy and reliability of the information.

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