Sharon Bank logo

Sharon Bank in Springfield, PA

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Sharon Bank is a community-focused FDIC-insured bank operating since 1873, offering personal and business checking, savings, loans, and credit cards with digital banking capabilities.

Data compiled from public sources

Sharon Bank Review

Sharon Bank has been serving its community for over 150 years, tracing its roots back to 1873. S. Government.

Based on their website, they maintain multiple physical locations across Pennsylvania (Springfield, Aston, and Philadelphia areas) while offering modern digital banking services. The bank explicitly positions itself around a '150 Years of Service to the Community' mission and emphasizes local community initiatives. Sharon Bank offers a comprehensive suite of financial products across both personal and business segments.

On the personal side, they provide multiple checking account options (1873 High Interest Checking, 1873 Cash Back Checking, NOW Interest Checking, Senior Checking), savings accounts (1873 Saver, Statement Savings, Passbook Savings, Junior Passbook Savings), Money Market accounts, CDs, IRAs, home loans (mortgages and home equity products including a new HELOC), and personal credit cards. For businesses, they offer business checking accounts, business savings, business CDs, commercial loans, residential investment loans, commercial real estate loans, construction loans, business credit cards, and merchant services including remote deposit capture and ACH services. 00% APR), a new HELOC product launch, and high-yield money market offerings for borrowers.

The bank offers digital conveniences including 24/7 online banking, a downloadable mobile app, Zelle payments, and paperless statements, combined with traditional in-person service. They also provide integration tools like QuickBooks and Quicken software support, and have implemented accessibility features (AudioEye enabled) on their website. As a regional community bank, Sharon Bank serves customers seeking personalized banking relationships with local decision-making, though they operate at a smaller scale than national megabanks.

Their product offerings are traditional and comprehensive rather than innovative. The website does not advertise aggressive promotional rates or cutting-edge fintech features, focusing instead on stable, established banking services. For consumers prioritizing community banking, FDIC security, and relationship-based service, Sharon Bank represents a conventional choice, though customers seeking the lowest rates or most advanced digital features may find more competitive options elsewhere.

Services & Features

Business checking and savings accounts for small business and non-profit entities
Business services: QuickBooks/Quicken integration, remote deposit capture, ACH services, merchant card services
Certificates of Deposit (CDs) and Individual Retirement Accounts (IRAs)
Commercial loans including construction loans, commercial real estate loans, and residential investment loans
Debit cards and card management tools (lost/stolen card reporting, reordering checks)
Digital banking services: 24/7 online banking, mobile app, paperless statements, Zelle payments
Financial calculators and checkbook balancing tools
Home mortgage loans and home equity loans with HELOC products
IntraFi and SecureNow services
Personal and business credit cards with rewards options
Personal checking accounts (High Interest, Cash Back, Demand, NOW, Senior)
Personal savings accounts and Money Market accounts

Feature Checklist

Mobile App
Online Portal
Score Tracking
Credit Education
Personal Advisor
Identity Theft Protection

Pros & Cons

Pros

  • FDIC-insured deposits backed by full faith and credit of U.S. Government
  • 150+ years of operating history in the community (since 1873)
  • 1873 Rewards program offers monthly cash back and interest rewards on checking accounts
  • Home equity loan rates advertised as low as 5.00% APR with new HELOC product
  • 24/7 online banking with downloadable mobile app and Zelle payment integration
  • Comprehensive suite for both personal and business banking needs under one institution
  • Physical branch locations in multiple Pennsylvania communities (Springfield, Aston, Philadelphia)

Cons

  • Limited geographic footprint compared to national or regional chains; primarily serves PA areas
  • Website does not prominently feature competitive rate comparisons or promotional incentives beyond home equity products
  • No mention of advanced fintech features, investment services, or alternative lending products
  • Limited transparency on checking account fees and minimum balance requirements visible on home page
  • Smaller institution may have fewer ATM locations and less developed mobile app functionality than major banks

State Consumer Finance Context

This is state-level context for Banks consumers in Springfield, PA. It does not confirm that Sharon Bank or this specific location is licensed.

State regulator

Pennsylvania Department of Banking and Securities

Key state rules to check

  • Payday lending is banned; the state's usury cap of 6% (24% for licensed lenders) prevents it.
  • Licensed consumer discount companies regulated under the Consumer Discount Company Act.
  • The Pennsylvania Unfair Trade Practices and Consumer Protection Law prohibits deceptive lending.

Source: CreditDoc state-law summary and listed public regulator resources. Verify licensing directly with the listed state regulator before relying on a provider.

Mortgage Lending Transparency

Sharon Bank processed 40 mortgage applications in 2023, with 92.5% recorded as approved across 3 states.

40

Applications

92.5%

Approval Rate

$368K

Avg Loan

3

States Served

Approval Rate by Applicant Income

Under $50K
66.7%
$50K–$100K
100%
$100K–$200K
87.5%
Over $200K
90.9%

Based on 40 applications. Income in thousands (reported by applicant).

States With Recorded Applications

Pennsylvania 32 apps · 84.4%
New Jersey 5 apps · 100%
Delaware 3 apps · 100%

Source: CFPB Home Mortgage Disclosure Act (HMDA) Data, 2023. Applications include originated, approved, and denied loans.

Frequently Asked Questions

What services does Sharon Bank offer?

Sharon Bank offers 12 services including Personal checking accounts (High Interest, Cash Back, Demand, NOW, Senior), Personal savings accounts and Money Market accounts, Certificates of Deposit (CDs) and Individual Retirement Accounts (IRAs), Home mortgage loans and home equity loans with HELOC products, Personal and business credit cards with rewards options, and 7 more.

What profile signals are listed for Sharon Bank?

Sharon Bank has profile signals associated with Pennsylvania residents seeking community banking with local decision-making and personalized service, Small business owners needing comprehensive banking services (checking, savings, loans, merchant services) from a single institution, Homeowners looking for competitive home equity loans or HELOCs with rates advertised at 5.00% APR or lower, Customers prioritizing FDIC safety and traditional banking stability over digital-only or fintech-focused banking.

What are the strengths and weaknesses of Sharon Bank?

Key strengths: FDIC-insured deposits backed by full faith and credit of U.S. Government; 150+ years of operating history in the community (since 1873); 1873 Rewards program offers monthly cash back and interest rewards on checking accounts. Areas to consider: Limited geographic footprint compared to national or regional chains; primarily serves PA areas; Website does not prominently feature competitive rate comparisons or promotional incentives beyond home equity products.

How does Sharon Bank compare to similar companies?

In the Banks category, comparable providers include American Bank, Philadelphia Letter Carriers, Tioga Franklin Savings Bank. Each company has different strengths, so compare services, pricing, and consumer complaint records before deciding what to do next.

Quick Facts

Founded
1873
Headquarters
Springfield, PA
BBB Accredited
No
Certifications
FDIC Insured FDIC Cert #28793
Visit Sharon Bank

CreditDoc Profile Note

Research Note on Sharon Bank

Sharon Bank is profile signals for Pennsylvania residents and small business owners seeking traditional, stable community banking with FDIC protection, personalized service, and competitive home equity loan rates. The main caveat is that as a regional community bank, it offers limited geographic reach compared to national banks and does not prominently feature the aggressive promotional rates, cutting-edge digital innovation, or extensive product depth that larger institutions provide.

Profile Signals

  • Pennsylvania residents seeking community banking with local decision-making and personalized service
  • Small business owners needing comprehensive banking services (checking, savings, loans, merchant services) from a single institution
  • Homeowners looking for competitive home equity loans or HELOCs with rates advertised at 5.00% APR or lower
  • Customers prioritizing FDIC safety and traditional banking stability over digital-only or fintech-focused banking
Updated 2026-05-08

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Quick Summary

  • Sharon Bank is listed as a Banks provider in Springfield, PA on CreditDoc.
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