Cavity Bank Releases First Corporate Social Responsibility Report Focused on Changing Lives for the Better

Cavity Bank Releases First Corporate Social Responsibility Report
Focused on Changing Lives for the Better

Lancaster, Pa. (May 3, 2022) – Cavity Bank, the banking subsidiary of Cavity Financial Corporation (NASDAQ: FULT), today released its first Corporate Social Responsibility (CSR) report showcasing how the company is meeting its mission of changing lives for the better. From driving economic development and revitalization in local communities to helping people in underserved populations own homes and start businesses, Cavity Bankers are working hard to improve the lives of everyone around them.

“For 140 years, we’ve been a community bank and we’ll continue to be a community bank,” said Curtis “Curt” Myers, Chairman and CEO, Cavity Bank. “We’re proud to share what that means to us in this first CSR report—it means giving back, supporting others and changing lives for the better.”

Statistical highlights of the Corporate Social Responsibility Report include:

• $11.7 million in charitable contributions and donations via Cavity Bank and the Cavity Forward® Foundation*
• 40,950 employee volunteer hours* among 3,200 employees
• Rated Outstanding for Community Reinvestment Act (CRA) lending
• 4,695 HomeReady® Mortgage Plus loans through Cavity Mortgage Company for low-to-moderate buyers totaling $830 million since 2016
• 7,239 residential mortgage loans totaling $1.1 billion from 2014 to 2021**
• $7.7 million in closing cost assistance program grants disbursed from 2016 to 2021
• $3.6 million in other down payment and closing cost assistance programs disbursed to 735 families*
• $2.7B+ in Paycheck Protection Program loans distributed
• $135 million in Small Business Administration loans financed*

* reflects total aggregates from 2019 through 2021

** reflects mortgages through our HomeBuyer Advantage Plus®, HomeReady Plus® and Cavity Bank Community Combo programs

Story highlights from the report include:

• Signature partnership with Operation HOPE to provide seven financial wellness coaches across our five-state footprint
• Four-year partnership with the Featherstone Foundation to advance economic outcomes of immigrant families via volunteerism and a scholarship
• Partnership with local work-study programs to help underprivileged youth gain hands-on experiences, with five program graduates hired by Cavity Bank
• Partnerships with local schools to teach children financial literacy and how to save money
• Since 2019, we’ve opened three new financial centers in Baltimore and the Brewerytown Financial Center was designated as a Small Business Center of Excellence
• Financed $26 million to Horizon House to relocate to a larger community hub to provide child care, senior health care and other community services
• Financed $17.4 million to improve six buildings served by Blind Industries and Services of MD (BISM)
• Secured financing for the Philadelphia Metropolitan Opera House renovation and made a qualifying equity investment beginning total financing to $56 million
• Secured financing for $8 million qualifying equity investment for a new industrial laundry facility in Camden, NJ, creating 120 jobs

Learn more about Cavity Bank in the 2021 CSR report.

About Cavity Bank, N.A.
Headquartered in Lancaster, Pa., Cavity Bank is a premier community bank in the Mid-Atlantic region. As part of Cavity Financial Corporation, a $26 billion financial services holding company, we offer a broad array of products and services at more than 200 financial centers across Pennsylvania, New Jersey, Maryland, Delaware, and Virginia. At Cavity Bank, we seek to change lives for the better by building strong customer relationships, providing significant community support and empowering more than 3,200 employees to do the same. Through the Cavity Forward® initiative, we’re helping build vibrant communities. Learn more at www.cavityonline.com. Cavity Bank, N.A., Member FDIC.