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Community Profile: Reading, PA Metropolitan Statistical Area (MSA)

Introduction

The Reading, PA MSA consists of Berks County and includes the principal city of Reading, which serves as the county seat of Berks County. The MSA is part of the Philadelphia-Camden-Vineland, PA-NJ-DE-MD combined statistical area. The city of Reading is approximately 65 miles northwest of Philadelphia and 60 miles east of Harrisburg.

To view the other sections of this report, click on the links below or the links that appear on the navigation bar on the right-hand side of the page.

• Historical Information
• Demographics and Economic Data
• Financial Institutions and Market Share Data
• Community Organizations
• Funding Sources

Maps

The maps provided below illustrate the location of the Reading, PA MSA and city of Reading. In addition, there are maps that indicate income levels by census tract and areas of concentrated poverty.

• Location of the Reading, PA MSA relative to other areas in the Northeast section of the United States (529 KB)
• Location of the Reading, PA MSA within the Third Federal Reserve District (1.05 MB)
• Overview of 2007 income levels by census tract for the Reading, PA MSA (351 KB)
• Overview of 2007 income levels by census tract for the city of Reading (60 KB)
• Overview of 2000 poverty levels for the city of Reading (60 KB)

• Last updated: Monday, August 18, 2008

Home > Community Development > Community Profiles > Reading, PA Metropolitan Statistical Area (MSA) > Historical Information

Community Profile: Reading, PA Metropolitan Statistical Area (MSA)

Historical Information*

Reading was named in honor of its planners' (Richard and Thomas Penn, sons of William Penn, founder of Pennsylvania) hometown, Reading, in Berkshire, England. The town eventually became associated with the Philadelphia and Reading Railroad (P&R). Long before the dawn of the railroad era, Reading boasted an important iron industry, one whose output actually exceeded England's by the time of the American Revolution. Reading saw continuous industrial growth until the 1930s, when its population reached nearly 120,000. At one point, the area was the largest manufacturer of full-fashioned hosiery in the world. From the 1940s to the 1970s, however, the area experienced a sharp downturn in prosperity largely because of the decline of heavy industry and railroads (on which its economy had been built), and a general flight to the suburbs.

Today, the MSA's economy is more diversified, with manufacturing, trade, transportation, education, and agriculture all playing important roles. Among the area's largest attractions is the VF Outlet Village just outside Reading city limits in the West Reading and Wyomissing boroughs. This retail outlet, which draws thousands of tourists every year, was redeveloped in the early 1970s from abandoned textile mills and was one of the first outlet malls in the United States.

Historical data for the Reading, PA MSA can be found at the following websites:

• City of Reading, PA
• History of Greater Reading, Berks County, Pennsylvania (The Greater Reading Convention & Visitors Bureau)
• Historical Society of Berks County, Pennsylvania
• The Reading Public Museum

• * Much of the material used here was drawn from the websites listed above.
• Last updated: Monday, August 18, 2008

Home > Community Development > Community Profiles > Reading, PA Metropolitan Statistical Area (MSA) > Demographics and Economic Data

Community Profile: Reading, PA Metropolitan Statistical Area (MSA)

Demographics and Economic Data

Included in this section is a brief summary of demographic and economic data. Detailed data can be accessed through the following websites:

• Federal Financial Institutions Examination Council : The website includes a geocoding/mapping system that allows users to obtain census data based on specific street addresses and a census report system that provides census information by census tract within a county or MSA.
• Map Your Community: A mapping interface developed by PolicyMap, a unit of The Reinvestment Fund, and provided by the Federal Reserve Bank of Philadelphia that allows users to easily create custom maps for user-defined locations. These custom maps provide a snapshot of current and historical economic and demographic conditions and can be used to analyze data for community development activities.
• PolicyMap : This geographic information system, which includes an interactive mapping tool developed by The Reinvestment Fund, allows users to create custom maps, tables, and charts for over 10,000 indicators and provides the ability to plot external data. PolicyMap also provides community profile reports for user-defined areas, including .
• U.S. Census Bureau American FactFinder : Official source for population, housing, economic, and geographic data collected by the U.S. Census Bureau.

• Last updated: Friday, March 23, 2012

Home > Community Development > Community Profiles > Reading, PA Metropolitan Statistical Area (MSA) > Demographics and Economic Data

Community Profile: Reading, PA Metropolitan Statistical Area (MSA)

Demographics and Economic Data

Tables

• Table 1: Racial Composition of the State of Pennsylvania, Reading MSA, and City of Reading
• Table 2: Distribution of Households by Income of Census Tract Within the Reading, PA MSA

Figures

• Figure 1: Racial Composition of the Reading, PA MSA
• Figure 2: Racial Composition of Those Who Reported They Were Hispanic or Latino in Origin Within the Reading, PA MSA
• Figure 3: Vacant Housing
• Figure 4: Highest Education Level by Percent of Population

Return to the Demographics page for the Reading, PA MSA.

Table 1: Racial Composition of the State of Pennsylvania, Reading MSA, and City of Reading

	State of Pennsylvania	Reading MSA	Reading, PA
Total Population	12,281,054	373,638	81,201
White alone	85.4%	88.2%	59.6%
Black or African American alone	9.9%	3.5%	11.4%
American Indian and Alaska Native alone	0.1%	0.2%	0.7%
Asian alone	1.8%	1.0%	1.7%
Native Hawaiian and Other Pacific Islander alone	0.0%	0.1%	0.1%
Some other race alone	1.5%	5.3%	21.6%
Two or more races	1.3%	1.7%	4.9%
Total Percentage	100.0%	100.0%	100.0%
Percent Hispanic or Latino in Origin of Total Population	3.2%	9.7%	37.2%

Source: U.S. Census Bureau, “2000 Census – Summary File 3,” http://factfinder.census.gov/home/saff/main.html?_lang=en 

Table 2: Distribution of Households by Income of Census Tract Within the Reading, PA MSA

	Total Households		Low-Income Households (<50%)		Moderate-Income Households (50-79%)		Middle-Income Households (80-119%)		Upper-Income Households (≥120%)
Tract Income	#	%	#	%	#	%	#	%	#	%
Low Income	10,533	7.4	5,977	19.0	2,033	8.4	1,267	4.5	1,256	2.2
Moderate Income	17,333	12.3	6,069	19.3	4,169	17.2	3,637	12.8	3,458	6.0
Middle Income	92,876	65.6	16,712	53.0	15,318	63.2	19,880	70.0	40,966	71.3
Upper Income	20,867	14.7	2,747	8.7	2,729	11.2	3,609	12.7	11,782	20.5
Total	141,609	100.0	31,505	100.0	24,249	100.0	28,393	100.0	57,462	100.0
Percentage of Households in Tracts of Any Income				22.2%		17.1%		20.1%		40.6%

Source: Federal Financial Institutions Examination Council (FFIEC), http://www.ffiec.gov. 

Figure 1: Racial Composition of the Reading, PA MSA

Source: U.S. Census Bureau, “2000 Census – Summary File 3,” http://factfinder.census.gov/home/saff/main.html?_lang=en

Figure 2: Racial Composition of Those Who Reported They Were Hispanic or Latino in Origin Within the Reading, PA MSA

Source: U.S. Census Bureau, “2000 Census – Summary File 3,” http://factfinder.census.gov/home/saff/main.html?_lang=en

Figure 3: Vacant Housing

* Less than 0.1 percent of the vacant housing in the state of Pennsylvania is attributable to migrant workers. No vacant housing in the Reading, PA MSA or the city of Reading is attributable to migrant workers.

Source: U.S. Census Bureau, “2000 Census – Summary File 3,” http://factfinder.census.gov/home/saff/main.html?_lang=en

Figure 4: Highest Education Level by Percent of Population

Source: U.S. Census Bureau, “2000 Census – Summary File 3,” http://factfinder.census.gov/home/saff/main.html?_lang=en

• Last updated: Monday, August 18, 2008

Home > Community Development > Community Profiles > Reading, PA Metropolitan Statistical Area (MSA) > Financial Institutions and Market Share Data

Community Profile: Reading, PA Metropolitan Statistical Area (MSA)

Financial Institutions and Market Share Data

The Community Reinvestment Act (CRA), enacted by Congress in 1977, is intended to encourage depository institutions to help meet the credit needs of the communities in which they operate, including the needs of low- and moderate-income people.

The term low and moderate income (LMI) is defined by the Federal Reserve Board in Regulation BB, Community Reinvestment, and includes people and communities whose income is less than 80 percent of the area median income. According to the regulation, low income means an individual income that is less than 50 percent of the area median income, or a median family income that is less than 50 percent, in the case of a geography. Moderate income means an individual income that is at least 50 percent and less than 80 percent of the area median income, or a median family income that is at least 50 and less than 80 percent, in the case of a geography.*

Market Share Data and Reports on Lending Institutions

A market share summary report is available through the Summary of Deposits section of the FDIC's website. This report allows the user to determine the deposit market share for each financial institution within any user-defined geographic area. The deposits are based on the branch/office deposits for all FDIC-insured institutions as reported on the annual Summary of Deposit survey for FDIC-insured institutions as of June 30. To obtain a market share report for a specific area, click on the link above. Within the site, select the geographic area and the market share report.

Users can access reports for specific institutions through the FDIC Institution Directory (ID) on the FDIC's website. This directory provides the latest comprehensive financial and demographic data for every FDIC-insured institution, including the most recent quarterly financial statements, with performance and condition ratios. To access a report for an institution, click on the link above. Within the site, select “find institutions” and enter the name or FDIC certificate number for an institution.

Users can also access reports on specific institutions through the National Information Center (NIC) on the Federal Financial Institutions Examination Council's (FFIEC) website. NIC is a central repository of data about banks and other institutions in which the Federal Reserve has a supervisory, regulatory, or research interest, including both domestic and foreign banking organizations operating in the United States. Within the website, select the “Institution Search” to obtain information for both current and noncurrent institutions by name and location and select the “FBO Search” to obtain information for U.S. branches and agencies of foreign banking organizations (FBOs).

Home Mortgage Disclosure Act (HMDA)

An important source of information about financial institutions' lending patterns in a community is the Home Mortgage Disclosure Act (HMDA) statement. This report is submitted annually to the Federal Financial Institutions Examination Council (FFIEC) and is available to the public for each reporting institution. The types of loans that must be reported are home-purchase loans, for both owner-occupants and nonoccupants; refinancings; home-improvement loans; and loans for improvement and/or purchase of multifamily structures (five or more units). Depository institutions that had at least $36 million in assets on December 31, 2006, in the home or branch office in an MSA must file this report.

Additional information regarding HMDA-reported loan statements is available through the FFIEC's website. Through this website, you can access aggregate HMDA reports at the MSA or national level. You can also obtain a disclosure report for a specific institution.

The following information was developed from aggregated HMDA statements. The tables include all HMDA-reported loans (home purchase, home improvement, refinancing, and multi-family).

Please note that some of the lending institutions listed in the HMDA tables are not depository institutions insured by the FDIC and summary reports for these institutions are not available on the FDIC or NIC websites. More information about these lending institutions can be obtained using a search engine such as Yahoo or Google.

Small-Business and Small-Farm Lending

Starting in 1996, the nation's financial institutions began reporting small-business and small-farm loans as part of their CRA disclosure statements required under the revised CRA regulations. While the information does not have the level of detail of the HMDA statements, it is an important source for understanding commercial lending activity in a community. The types of loans reported include all originations and purchases of commercial loans, lines of credit, and mortgages on nonresidential properties equal to or less than $1 million in size. The loans are reported by size, by geographic location, and for borrowers with annual revenues of $1 million or less. These categories of loans include those with guarantees, such as those provided by the SBA or USDA. Small-farm loans are reported in the same way.

Additional information regarding CRA disclosure statements is available through the Federal Financial Institutions Examination Council's (FFIEC) website. Through this website, you can access aggregate CRA reports at the county, MSA, or national level. You can also obtain a disclosure report for a specific institution and review its CRA rating.

The following information was developed from aggregated CRA disclosure statements. The tables show the reporters’ market share by the number of loans and total dollars originated. They include only originated loans under $1 million, since loan applications and loans greater than $1 million are not reported.

• * Source: Federal Reserve Board, Regulation BB
• Last updated: September 13, 2011

Home > Community Development > Community Profiles > Reading, PA Metropolitan Statistical Area (MSA) > Tables for Financial Institutions and Market Share Data

Community Profile: Reading, PA Metropolitan Statistical Area (MSA)

Tables for Financial Institutions and Market Share Data

Home Mortgage Lending

• Table 1: Top 25 Reporters in the Reading, PA MSA in 2006 - All Home Mortgage Originations in MSA
• Table 2: Top 25 Reporters in the Reading, PA MSA in 2006 - All Home Mortgage Originations to LMI Borrowers in MSA
• Table 3: Top 25 Reporters in the Reading, PA MSA in 2006 - All Home Mortgage Originations in LMI Census Tracts in MSA

Small-Business and Small-Farm Lending

• Table 4: Top 10 Reporters in the Reading, PA MSA in 2006 - All Small-Business Originations in MSA
• Table 5: Top 10 Reporters in the Reading, PA MSA in 2006 - All Small-Farm Originations in MSA
• Table 6: Top 10 Reporters in the Reading, PA MSA in 2006 - All Originations to Small Businesses in MSA with Annual Gross Revenue Less Than or Equal to $1 Million
• Table 7: Top 10 Reporters in the Reading, PA MSA in 2006 - All Originations to Small Farms in MSA with Annual Gross Revenue Less Than or Equal to $1 Million
• Table 8: Number of Loans by Tract Income in the Reading, PA MSA in 2006
• Table 9: Number of Loans by Tract Income in the Reading, PA MSA in 2006 - Businesses with Annual Gross Revenues Less Than or Equal to $1 Million

Return to the Financial Institutions and Market Share Data page for the Reading, PA MSA.

Home Mortgage Lending

Table 1: Top 25 Reporters in the Reading, PA MSA in 2006 - All Home Mortgage Originations in MSA

Institution Name	Number of Loans	Market Share %	Total Dollar Amount ($000's)	Market Share %	Average Loan Size ($000's)
SOVEREIGN BANK	1,472	7.6	180,446	8.5	123
COUNTRYWIDE HOME LOANS	1,379	7.1	179,040	8.5	130
WACHOVIA BANK	1,054	5.4	79,514	3.8	75
WELLS FARGO BANK, N.A.	851	4.4	133,599	6.3	157
MORTGAGE AMERICA, INC.	814	4.2	97,402	4.6	120
CITIZENS BANK OF PENNSYLVANIA	692	3.6	33,084	1.6	48
FULTON BANK	630	3.2	59,533	2.8	94
LEESPORT BANK	612	3.1	48,537	2.3	79
NATIONAL PENN BANK	444	2.3	23,108	1.1	52
ABN AMRO MORTGAGE GROUP, INC.	350	1.8	44,955	2.1	128
JPMORGAN CHASE BANK	313	1.6	39,181	1.9	125
NEW CENTURY MORTGAGE CORPORATION	292	1.5	34,665	1.6	119
DIAMOND CREDIT UNION	261	1.3	11,195	0.5	43
WACHOVIA MORTGAGE	251	1.3	34,792	1.7	139
EQUIFIRST CORPORATION	241	1.2	28,964	1.4	120
NATIONAL CITY BANK	237	1.2	26,454	1.3	112
COMMUNITYBANKS	235	1.2	18,056	0.9	77
PENN 1ST FINANCIAL	218	1.1	31,080	1.5	143
BANK OF AMERICA, N.A.	217	1.1	21,674	1.0	100
COUNTRYWIDE BANK, N.A.	216	1.1	14,092	0.7	65
FIRST HORIZON HOME LOAN CORP.	214	1.1	22,293	1.1	104
FLEETWOOD BANK	194	1.0	16,488	0.8	85
BENEFICIAL COMPANY, LLC	190	1.0	17,950	0.9	94
CTCE FEDERAL CREDIT UNION	189	1.0	4,730	0.2	25
RIVERFRONT FCU	184	0.9	5,223	0.3	28
Total of Top 25 Lenders	11,750	60.3	1,206,055	57.4	103
All Lenders (409)	19,490	100	2,114,738	100	109

Source: CRA Wiz, copyright held by PCi Services, Inc., 800-261-3111

Table 2: Top 25 Reporters in the Reading, PA MSA in 2006 - All Home Mortgage Originations to LMI Borrowers in MSA

Institution Name	Number of Loans	Market Share %	Total Dollar Amount ($000's)	Market Share %	Average Loan Size ($000's)
SOVEREIGN BANK	591	9.3	44,162	9.3	75
COUNTRYWIDE HOME LOANS	469	7.4	40,555	8.5	86
WACHOVIA BANK	321	5.0	17,618	3.7	55
CITIZENS BANK OF PENNSYLVANIA	314	4.9	7,223	1.5	23
MORTGAGE AMERICA, INC.	279	4.4	28,113	5.9	101
WELLS FARGO BANK, N.A.	242	3.8	22,842	4.8	94
FULTON BANK	220	3.5	15,514	3.3	71
LEESPORT BANK	201	3.2	12,344	2.6	61
NATIONAL PENN BANK	165	2.6	6,439	1.4	39
NEW CENTURY MORTGAGE CORPORATION	118	1.9	10,886	2.3	92
ABN AMRO MORTGAGE GROUP, INC.	117	1.8	10,689	2.2	91
BANK OF AMERICA, N.A.	108	1.7	7,439	1.6	69
JPMORGAN CHASE BANK	89	1.4	8,508	1.8	96
WACHOVIA MORTGAGE	89	1.4	8,494	1.8	95
EQUIFIRST CORPORATION	80	1.3	7,627	1.6	95
PENN 1ST FINANCIAL	80	1.3	6,036	1.3	75
RIVERFRONT FCU	76	1.2	1,245	0.3	16
NATIONAL CITY BANK	75	1.2	6,310	1.3	84
FIRST HORIZON HOME LOAN CORPORATION	72	1.1	6,053	1.3	84
DIAMOND CREDIT UNION	70	1.1	2,063	0.4	29
CTCE FEDERAL CREDIT UNION	68	1.1	1,181	0.3	17
FLEETWOOD BANK	63	1.0	3,984	0.8	63
BENEFICIAL COMPANY, LLC	61	1.0	4,131	0.9	68
MANUFACTURERS AND TRADERS TRUST	56	0.9	2,006	0.4	36
COMMUNITYBANKS	55	0.9	3,014	0.6	55
Total of Top 25 Lenders	4,079	64.4	284,476	59.9	70
All Lenders (267)	6,377	100	476,991	100	75

Source: CRA Wiz, copyright held by PCi Services, Inc., 800-261-3111

Table 3: Top 25 Reporters in the Reading, PA MSA in 2006 - All Home Mortgage Originations in LMI Census Tracts in MSA

Institution Name	Number of Loans	Market Share %	Total Dollar Amount ($000's)	Market Share %	Average Loan Size ($000's)
COUNTRYWIDE HOME LOANS	343	12.5	21,611	13.2	63
SOVEREIGN BANK	239	8.7	20,088	12.3	84
CITIZENS BANK OF PENNSYLVANIA	147	5.3	3,266	2.0	22
WACHOVIA BANK	136	4.9	5,559	3.4	41
FULTON BANK	123	4.5	7,909	4.8	64
WELLS FARGO BANK, N.A.	117	4.3	6,269	3.8	54
BANK OF AMERICA, N.A.	76	2.8	3,618	2.2	48
MORTGAGE AMERICA, INC.	61	2.2	4,629	2.8	76
EQUITY ONE, INC.	55	2.0	4,965	3.0	90
NEW CENTURY MORTGAGE CORPORATION	46	1.7	3,137	1.9	68
GREENPOINT MORTGAGE FUNDING	46	1.7	2,183	1.3	47
PENN 1ST FINANCIAL	45	1.6	3,117	1.9	69
LEESPORT BANK	45	1.6	2,629	1.6	58
WACHOVIA MORTGAGE	41	1.5	2,732	1.7	67
ABN AMRO MORTGAGE GROUP, INC.	41	1.5	2,475	1.5	60
LONG BEACH MORTGAGE CO.	38	1.4	1,641	1.0	43
HSBC MORTGAGE CORPORATION	36	1.3	1,873	1.1	52
CTCE FEDERAL CREDIT UNION	35	1.3	654	0.4	19
ALLIED MORTGAGE GROUP, INC.	33	1.2	1,470	0.9	45
JPMORGAN CHASE BANK	31	1.1	1,988	1.2	64
COUNTRYWIDE BANK, N.A.	31	1.1	1,023	0.6	33
HOMECOMING FINANCIAL NETWORK	30	1.1	1,514	0.9	50
AMERICAN HOME MORTGAGE CORP.	30	1.1	1,201	0.7	40
BERKSHIRE BANK	29	1.1	2,282	1.4	79
RIVERFRONT FCU	29	1.1	356	0.2	12
Total of Top 25 Lenders	1,883	68.6	108,189	65.8	57
All Lenders (166)	2,752	100	163,773	100	60

Source: CRA Wiz, copyright held by PCi Services, Inc., 800-261-3111

Small-Business and Small-Farm Lending

Table 4: Top 10 Reporters in the Reading, PA MSA in 2006 - All Small-Business Originations in MSA

Institution Name	Number of Loans	Market Share %	Total Dollar Amount ($000's)	Market Share %	Average Loan Size ($000's)
AMERICAN EXPRESS BK FSB	2,471	20.5	8,275	1.9	3
CITIBANK (SOUTH DAKOTA), N.A.	2,076	17.2	9,616	2.2	5
CHASE MANHATTAN BANK USA, N.A.	1,268	10.5	10,542	2.4	8
CAPITAL ONE, F.S.B.	878	7.3	5,781	1.3	7
GE CAPITAL FINANCIAL INC.	819	6.8	3,665	0.8	4
ADVANTA BANK CORP.	676	5.6	7,084	1.6	10
MBNA AMERICA DELAWARE, N.A.	494	4.1	3,351	0.8	7
FULTON BANK	365	3.0	51,354	11.5	141
WACHOVIA BANK	343	2.8	90,491	20.2	264
FIA CARD SERVICES, N.A.	312	2.6	1,865	0.4	6
Total of Top 10 Lenders	9,702	80.4	192,024	43.1	20
All Lenders (70)	12,061	100	447,014	100	37

Source: CRA Wiz, copyright held by PCi Services, Inc., 800-261-3111

Table 5: Top 10 Reporters in the Reading, PA MSA in 2006 - All Small-Farm Originations in MSA

Institution Name	Number of Loans	Market Share %	Total Dollar Amount ($000's)	Market Share %	Average Loan Size ($000's)
FULTON BANK	117	34.1	12,516	43.7	107
LEBANON VALLEY FARMERS BANK	111	32.4	9,396	32.8	85
CAPITAL ONE, F.S.B.	38	11.1	265	0.9	7
COMMUNITY BANKS	11	3.2	1,155	4.0	105
SUSQUEHANNA BANK PA	10	2.9	1,101	3.8	110
BANK OF AMERICA, N.A.-USA	9	2.6	90	0.3	10
NATIONAL PENN BANK	8	2.3	1,219	4.3	152
WELLS FARGO BANK, N.A.	7	2.0	265	0.9	38
CHASE MANHATTAN BANK USA, N.A.	7	2.0	51	0.2	7
MANUFACTURERS & TRADERS TRUST	6	1.8	1,471	5.1	245
Total of Top 10 Lenders	324	94.4	27,529	96.0	85
All Lenders (18)	343	100	28,656	100	84

Source: CRA Wiz, copyright held by PCi Services, Inc., 800-261-3111

Table 6: Top 10 Reporters in the Reading, PA MSA in 2006 - All Originations to Small Businesses in MSA with Annual Gross Revenue Less Than or Equal to $1 Million

Institution Name	Number of Loans	Market Share %	Total Dollar Amount ($000's)	Market Share %	Average Loan Size ($000's)
CITIBANK (SOUTH DAKOTA), N.A.	1,293	26.8	6,430	3.5	5
ADVANTA BANK CORP.	676	14.0	7,084	3.9	10
CAPITAL ONE, F.S.B.	393	8.2	2,553	1.4	6
AMERICAN EXPRESS BK, FSB	290	6.0	2,285	1.3	8
FULTON BANK	254	5.3	26,934	14.7	106
WELLS FARGO BANK, N.A.	237	4.9	6,580	3.6	28
BANK OF AMERICA, N.A.-USA	179	3.7	2,673	1.5	15
MBNA AMERICA DELAWARE, N.A.	152	3.2	1,564	0.9	10
SUSQUEHANNA PATRIOT BANK	134	2.8	9,547	5.2	71
NATIONAL PENN BANK	129	2.7	22,280	12.2	173
Total of Top 10 Lenders	3,737	77.6	87,930	48.2	24
All Lenders (70)	4,823	100	183,092	100	38

Source: CRA Wiz, copyright held by PCi Services, Inc., 800-261-3111

Table 7: Top 10 Reporters in the Reading, PA MSA in 2006 - All Originations to Small Farms in MSA with Annual Gross Revenue Less Than or Equal to $1 Million

Institution Name	Number of Loans	Market Share %	Total Dollar Amount ($000's)	Market Share %	Average Loan Size ($000's)
LEBANON VALLEY FARMERS BANK	110	37.3	8,896	38.1	81
FULTON BANK	104	35.3	10,268	44.0	99
CAPITAL ONE, F.S.B.	30	10.2	193	0.8	6
COMMUNITY BANKS	9	3.1	960	4.1	107
NATIONAL PENN BANK	7	2.4	849	3.6	121
WELLS FARGO BANK, N.A.	7	2.4	265	1.1	38
BANK OF AMERICA, N.A.-USA	6	2.0	75	0.3	13
MANUFACTURERS & TRADERS TRUST	4	1.4	721	3.1	180
SUSQUEHANNA BANK PA	4	1.4	413	1.8	103
EPHRATA NATIONAL BANK	4	1.4	160	0.7	40
Total of Top 10 Lenders	285	96.9	22,800	97.6	80
All Lenders (18)	295	100	23,337	100	79

Source: CRA Wiz, copyright held by PCi Services, Inc., 800-261-3111

Table 8: Number of Loans by Tract Income in the Reading, PA MSA in 2006

Originated Loan	Tract Income as % of MSA Median Income
	Low (<50%)	Moderate (50-79%)	Middle (80-119%)	Upper (≥120%)	Total
Small Business	563	623	8,153	2,440	11,779
Small Farm	0	1	330	8	339
Total	563	624	8,483	2,448	12,118

Source: CRA Wiz, copyright held by PCi Services, Inc., 800-261-3111

Table 9: Number of Loans by Tract Income in the Reading, PA MSA in 2006 - Businesses with Annual Gross Revenues Less Than or Equal to $1 Million

Originated Loan	Tract Income as % of MSA Median Income
	Low (<50%)	Moderate (50-79%)	Middle (80-119%)	Upper (≥120%)	Total
Small Business	210	250	3,298	952	4,710
Small Farm	0	1	284	6	291
Total	210	251	3,582	958	5,001

Source: CRA Wiz, copyright held by PCi Services, Inc., 800-261-3111

• Last updated: Monday, August 18, 2008

Home > Community Development > Community Profiles > Reading, PA Metropolitan Statistical Area (MSA) > Community Organizations

Community Profile: Reading, PA Metropolitan Statistical Area (MSA)

Community Organizations

This section provides information about affordable housing, social service, economic development, and community revitalization organizations in the area whose interests, activities, and initiatives improve the housing conditions and employment opportunities of residents. These groups represent potential partners for bankers seeking to more fully address the credit needs of each region's low- and moderate-income people and communities.

The information in this section is obtained directly from the websites of the community organizations.

To view community organizations for a specific community development expertise, select an option from the menu below and click the "View" button.

show all community organizations Affordable Housing for Low- and Moderate-Income Individuals Services to Low- and Moderate-Income Individuals Economic Development Revitalization of Low- and Moderate-Income Communities

• Alliance for Building Communities (ABC)
• Berks Community Action Program (BCAP)
• Community First Fund
• Diakon Lutheran Social Ministries (DLSM)
• Hispanic Center
• Housing Development Corporation (HDC)
• Neighborhood Housing Services of Reading (NHS of Reading)
• Reading-Berks Habitat For Humanity
• RiverPlace on the Schuylkill (RiverPlace Development Corporation)

Alliance for Building Communities (ABC)

Mission

To create community partnerships dedicated to revitalizing neighborhoods by developing safe and affordable housing that fosters independent living and enhances the quality of life for seniors and families.

Year of Origin

A predecessor organization, the Lehigh Housing Development Corporation, was formed in 1975. In 1998, its organizational structure and name were changed to ABC to reflect the fact that the organization not only was developing affordable housing, but also was engaged in building communities.

Core Programs

• Develops and rehabilitates affordable housing for low- and moderate income individuals and families
• Owns and manages rental housing properties
• Offers the Doorway to Homeownership Program, which assists families as they improve credit while saving to purchase their own homes and provides individualized training in budgeting, maintenance, and upkeep of properties
• Collaborates with partners on community initiatives, such as a mural arts project
• Created ENABLE (Empowering Neighborhoods and Building Livable Environments), a program designed to work at the grassroots level in a diverse neighborhood of Allentown to develop abandoned properties to help stabilize the community

Service Area

Lehigh, Northampton, Berks, Carbon, Monroe, and Schuylkill counties.

Contact Information

Alliance for Building Communities
830 Hamilton Street
Allentown, PA 18101
Phone: (610) 439-7007
Fax: (610) 439-7888
E-mail: info@housingabc.org
Website: http://www.housingabc.org/

Berks Community Action Program (BCAP)

Mission

To provide services to low-income people enabling them to move from poverty to self-sufficiency

Year of Origin

1965

Core Programs

• Financial counseling - Provides pre-purchase counseling for first-time home buyers, budget and debt counseling, and counseling concerning rent delinquency and mortgage default.
• Mortgage and rental support - Provides help to families who face mortgage foreclosure or who need rental assistance.
• Y.E.S. mentor program - In partnership with the Reading school district, pairs adult volunteers with children who need a mentor.
• Weatherization program - Helps low-income families save on energy costs by providing insulation, caulking, weather-stripping, furnace tune-ups, and other energy-saving measures.
• Employment training/case management programs - Offer various options for individuals who want to move from dependence to self-sufficiency.
• Supported Work Program (SWP) - Provides job placement for those with limited education and work history.
• Delegate and cooperative programs - Provides financial support to many agencies in Berks County that serve low-income residents.

Service Area

Berks County

Contact Information

Berks Community Action Program (BCAP)
518 Washington Street
P.O. Box 22
Reading, PA 19603
Phone: 610-376-6571
Fax: 610-376-0724
E-mail: ckoursaros@bcapberks.org
Website: none

Community First Fund

Mission

The Community First Fund creates economic growth for its communities by providing equitable financial services, technical knowledge, and advocacy for its customers.

Year of Origin

1992 (Originally called the Susquehanna Valley Community Development Loan Fund)

Core Programs

• Operates the Women’s Business Center, which provides training, customized business counseling, loan capital, and advocacy support to small-business enterprises.
• Provides a variety of loans to individuals and community-based organizations for starting or expanding small or mid-sized businesses, creating affordable housing units, or developing commercial spaces that will affect the community.

Service Area

13-county area in central Pennsylvania (Adams, Berks, Chester, Cumberland, Dauphin, Franklin, Lancaster, Lebanon, Lehigh, Montgomery, Northampton, Perry, York)

Contact Information

Community First Fund

Main Office
30 West Orange Street
Lancaster, PA 17603

Mailing Address
P.O. Box 524, Lancaster, PA 17608-0524

Phone: (717) 393-2351
Fax: (717) 393-1757
E-mail: info@commfirstfund.org
Website: http://www.commfirstfund.org

Diakon Lutheran Social Ministries (DLSM)

Mission

Diakon Lutheran Social Ministries demonstrates God's command to love thy neighbor through acts of service.

Year of Origin

1868

Core Programs

Offers senior living communities and a range of services for children, youths, families, and older adults

Service Area

Pennsylvania, Maryland, and Delaware

Contact Information

Diakon Lutheran Social Ministries
Administrative Services Center
798 Hausman Road, Suite 300
Allentown, PA 18104-9108
Toll-Free: 877-342-5667
Phone: 610-682-1262
Fax: 610-682-1055
Website: http://www.diakon.org/Index.asp

Hispanic Center

Mission

The Hispanic Center of Reading and Berks is a community-based organization that, through its professional, linguistic, and cultural skills, provides services to the Latino community in the city of Reading and throughout Berks County, both directly and in cooperation with other community service agencies and organizations.

Year of Origin

1969

Core Programs

• Casa De La Amistad - A linguistically and culturally appropriate senior center that provides social, cultural, recreational, and educational activities (including English lessons).
• Micro + Program - Micro-lending services for Hispanic small-business owners.
• Abstinence Program - As part of a federal and state grant to the Pennsylvania Association of Latino Organizations (PALO), this program provides specialized instructional services to youth programs in the community.
• The Hispanic Center Scholarship Fund - One or more scholarships are awarded annually to residents of Berks County who will be pursuing post-secondary, undergraduate education at an accredited institution and whose ethnic background originates from Mexico, Cuba, the Dominican Republic, Puerto Rico, or Central or South America.
• Prevention programs, including breast cancer prevention and tobacco cessation.
• Berks Hispanic Leadership Institute - A two-year program designed to develop leaders in the Hispanic community.

Service Area

Berks County

Contact Information

Centro Hispano
PO Box 8652
Reading, PA 19601
Phone: (610) 376-3748
Fax: (610) 372-2619
E-mail: info@centrohispano.org
Website: www.centrohispano.org

Housing Development Corporation (HDC)

Mission

To provide quality housing and expand residential opportunities for households with modest incomes. While HDC develops real estate for people of all economic levels, in addition to commercial use, it continues to strive to meet the growing demand for affordable housing.

Year of Origin

1971

Core Programs

• Housing developer: Develops affordable housing through new construction, rehabilitation of older buildings, and preservation of existing affordable housing.
• Property management: Manages rental units that are affordable to low- and moderate-income people.
• Supportive services: Provide programs, services, and staffing to residents living in affordable housing that offer an opportunity to improve and enhance their quality of life and contribute to the overall stability of the community where they reside.
• Administers the federally funded weatherization program by providing energy-saving services.
• Development and training: Funds specialized training for volunteers and staff who work with low-income families, seniors, and persons with disabilities.

Service Area

Lancaster, Dauphin, Berks, York, Lebanon and Chester counties

Contact Information

Housing Development Corporation
439 East King Street
Lancaster PA 17602
Phone: (717) 291-1911
Fax: (717) 291-0987
Website: http://www.hdcweb.com/index.htm

Neighborhood Housing Services of Reading (NHS of Reading)

Mission

Neighborhood Housing Services of Reading (NHS of Reading) is a neighborhood-based nonprofit housing agency that provides or facilitates affordable housing initiatives that will expand homeownership opportunities for all people of Berks County, especially low- and moderate-income families, and will contribute to community revitalization.

Year of Origin

1977

Core Programs

• Operates a "full-cycle" Home Ownership Center that includes pre- and post-purchase counseling, home repair counseling, and credit/budget counseling. Financing is also available through the program.
• Rehabilitates existing properties and constructs new homes for low- and moderate-income individuals and families.
• Provides foreclosure intervention assistance.
• Sponsors the Neighborhood Building Initiative to improve the physical and social conditions in target neighborhoods.

Service Area

Berks County

Contact Information

Neighborhood Housing Services of Reading
213 N. 5th Street, Suite 1030
Reading, Pennsylvania 19601
Phone: (610) 372-8433
Fax: (610) 374-2866
Website: www.nhsreading.org

Reading-Berks Habitat For Humanity

Mission

Reading-Berks Habitat for Humanity is a 501(c)(3) ecumenical Christian charitable organization that exists to create affordable homeownership opportunities with and for low-income families.

Year of Origin

1988

Core Programs

Through volunteer labor and donations of money and materials, Habitat builds and rehabilitates simple, decent houses with the help of the homeowner (partner) families. Habitat houses are sold to partner families at no profit and financed with affordable loans. The homeowners' monthly mortgage payments are used to build future Habitat houses.

Service Area

Berks County

Contact Information

Reading-Berks Habitat For Humanity
336 South 18th Street
Reading, PA 19602
Phone: (610) 373-3439
Fax: (610) 373-1010
E-mail: info@rbhabitat.org
Website: www.rbhabitat.org

RiverPlace on the Schuylkill (RiverPlace Development Corporation)

Mission

To use the power of the Schuylkill River as a catalyst to unite communities and foster economic development.

Year of Origin

2004

Core Programs

• Vision: Hold the community's common vision for waterfront-focused revitalization of the county's urban core as outlined in the RiverPlace master plan
• Advocacy: Advocate for and raise awareness of RiverPlace as envisioned in the master plan
• Activation: Bring people to the riverfront
• Facilitation: In partnership with others, help facilitate public and private initiatives consistent with the master plan
• Sustainability: Identify the funding necessary for operation, capital improvements, and maintenance, through grants, partnerships, tax-increment financing, etc. Establish a special assessment district to fund ongoing maintenance and security.

Service Area

Berks County urban core (portions of Reading, West Reading, Wyomissing, Kenhorst, and Bern, Cumru, and Spring townships)

Contact Information

RiverPlace on the Schuylkill
201 Washington Street, "The GoggleWorks," Suite 541
Reading, PA 19601
Phone: (610) 736-3900
Fax: (610) 736-3988
E-mail: Info@RiverPlacePA.com
Website: www.RiverPlacePA.com

• Last updated: August 31, 2008

Home > Community Development > Community Profiles > Funding Sources

Community Profiles

Funding Sources

There are public funds to support affordable housing, social service, economic development, and community revitalization initiatives at the national, state, and local levels. This support can be in the form of a grant, loan, or loan guarantee. The information in this section was obtained directly from the websites of the organizations that administer the programs. Contact each organization for specific information about the programs and services it offers.

To view funding sources at the national, state, and local levels, select an option from the menu below and click the "View" button.

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Go to the main page of the Reading, PA MSA.

Reading, PA MSA Funding Sources

• Berks Economic Partnership
• Berks County Community Foundation
• Berks County Community Development Department
• Berks County Industrial Development Authority
• City of Reading – Community Development
• Community First Fund
• Greater Berks Development Fund
• Redevelopment Authority, Berks County
• Regional Economic Development District Initiatives of South-Central Pennsylvania (REDDI)
• United Way of Berks County

Berks Economic Partnership

The Berks Economic Partnership (BEP) is a marketing agency that works with other economic development agencies to help retain, attract, promote, and grow economic development in a collaborative manner in Berks County. BEP also helps businesses in Berks County to access financing assistance.

Information about BEP and its programs can be found on the BEP's website.

Berks County Community Foundation

Berks County Community Foundation is a nonprofit that administers charitable funds for a variety of causes. The foundation looks for opportunities to improve the quality of life in Berks County and assists in identifying ways in which the philanthropic sector can contribute. The foundation staff manages more than 350 different funds, each established with a specific purpose determined by the original donor.

Information about the Berks County Community Foundation and the charitable funds it administers is available on its website.

Berks County Community Development Department

The Berks County Community Development Department administers several programs that assist income-eligible residents of Berks County. These programs include rent subsidies, closing cost assistance for first-time homebuyers, and rehabilitation loans.

In partnership with the Berks County Planning Commission, the Community Development Department also provides funding and technical assistance to boroughs and townships.

More information about the programs and services offered by the Berks County Community Development Department can be found on its website.

Berks County Industrial Development Authority

The Berks County Industrial Development Authority works to improve the quality of life for the citizens of Berks County through community and economic development. The authority is authorized to issue industrial development bonds (IDBs) to manufacturing companies for qualified capital projects.

More information about the programs and services offered by the Berks County Industrial Development Authority is available through its website.

City of Reading – Community Development

The Community Development Department is responsible for neighborhood planning, economic development, land development and subdivision review, zoning administration, and historic preservation for the city of Reading. The department also administers the community development block grant (CDBG), home investment partnership (HOME), and emergency shelter grant (ESG) programs.

More information about the Community Development Department and its programs can be found on its website.

Community First Fund

Community First Fund provides loans and technical assistance to small-business owners, affordable housing developers, and community groups and development initiatives in underserved communities in its 13-county service area in central Pennsylvania.

Information about the loan programs and other assistance offered by the Community First Fund is available through its website.

Greater Berks Development Fund

The Greater Berks Development Fund is a private nonprofit that offers financing, real estate, and development services to businesses in Berks County. The fund helps businesses locate, expand and grow in Berks County by providing advisory services in the areas of site selection, relocation, and financing.

Additional information about the services and financing programs available through the Greater Berks Development Fund is available on its website.

Redevelopment Authority, Berks County

The Berks County Redevelopment Authority works to eliminate blight and dangerous conditions in Berks County. The authority is authorized by the Board of County Commissioners and operates independently.

The authority has supported a variety of initiatives, ranging from flood recovery efforts to the management of the county's federal entitlement housing and community development programs. The Redevelopment Authority also focuses on renewing and revitalizing the city of Reading and the borough of West Reading. The authority's activities are coordinated through and with the Berks County Community Development Office.

More information about the Redevelopment Authority can be found on the Redevelopment Authority's website.

Regional Economic Development District Initiatives of South-Central Pennsylvania (REDDI)

REDDI is a federally designated economic development district (EDD) of Pennsylvania. It fosters redevelopment strategies and projects that stimulate economic growth in urban and rural distressed communities through collaboration, facilitation, and building alliances among key stakeholders in the district. REDDI’s primary focus is facilitating and acting as a conduit for Economic Development Administration funding for eligible regional projects.

More information can be found on the REDDI website.

United Way of Berks County

United Way works closely with agency and community partners, volunteers representing all sectors of the community, and donors to identify and address the community's most critical health and human service issues.

The United Way has identified five areas of community needs on which to focus: building self-sufficiency, nurturing children and strengthening families, caring for people in crisis, promoting health and independence, and developing community capacity. The United Way provides funds to partners that support these needs. Additional information is available on the United Way of Berks County's website.

• Last updated: October 20, 2010