Team Capital Bank CEO says shareholders, customers will benefit with merger

Robert Rupel, 65, said he's not certain what his role will be once the acquisition is complete.

There are no plans to close any of Team Capital Bank's branches when the Lehigh Valley-based bank is acquired by Provident Financial Services, Team Capital's leader said.

Robert Rupel, president and chief executive officer of Team Capital,
said Team Capital’s ability to grow and maintain its credit quality made it an attractive property for expansion-minded Provident.

The deal, announced Friday, had been in the works for about three months and allows The Provident Bank to push into the eastern Pennsylvania market, he said.

“This is a strategic way to do that -- and they paid a good price in which our shareholders benefited,” Rupel said.

The completion of the transaction is subject to Team Capital Bank’s stockholder approval and regulatory approvals for both companies. Rupel said those hurdles should be cleared by April or May.

Customers will see no changes until then, he said.

"Ultimately what it means to our customers is that on the business side, we’re going to be able to support more of the needs of our larger customers," Rupel said. "We’re going to be part of a bigger bank with a bigger lending authority."

Another plus: Team Capital customers will be able to choose from more sophisticated products and get speedier access to Internet banking, he said.

Rupel said he didn’t know that a decision had been made to change Team Capital’s name, although he said that’s more likely with branches in New Jersey, where The Provident Bank has a stronger presence.

Rupel, who has headed Team Capital Bank since March 2010 and been in the banking industry for 43 years, said he’s not sure what the acquisition means for his role.

"I think it’s a little too early to say," said Rupel, 65. "I will be somewhat surprised if I can step away completely. I’m going to do everything I can to deliver (The Provident Bank) a better bank in May than the one they bought in December. I’ll also do everything I can to help them grow in Pennsylvania."

In Pennsylvania, Team Capital's branches include two in Allentown, one in Bethlehem Township, one in Newtown and one in Doylestown. New Jersey branches include two in Flemington and one each in Phillipsburg, Clinton, Far Hills, Somerville and West Orange.

Team Capital Bank was founded in the Lehigh Valley in 2005 with co-chairmen Martin D. Cohen, a Lehigh Valley lawyer, and Pat Toomey, the former congressman and current U.S. senator. Cohen remains on the board of directors.

The bank opened its first Lehigh Valley branch in 2006 at 2151 Emrick Blvd. in Bethlehem Township,Pa.