PBN Fastest Growing Companies 2023
$25 million to $75 million No. 5. Centreville Bank
CEO (or equivalent): Harold M. Horvat, chairman, CEO and president
2022 revenue: $63.7 million
2020 revenue: $54.4 million
Revenue growth: 17.2%
EVEN BEFORE THE COVID-19 PANDEMIC, consumers shifted to mobile banking, causing some brick-and-mortar bank locations to close. But the accessibility of Centreville Bank’s locations and services likely helped increase revenue, said Chairman, CEO and President Harold M. Horvat.
Federal and State Nursing Home Staffing Mandates
Staffing has always been an ongoing challenge in the long-term care industry. However, since the…
Learn More
“We were there when people needed us,” Horvat said, adding Centreville was active in assisting clients with the federal Paycheck Protection Program loans process and continuously communicating with lenders. Centreville also acquired Putnam Bank and its eight Connecticut locations just before the pandemic.
The West Warwick-based bank grew its revenue by 17.2% in 2022 compared with 2020. When the pandemic shut down the bank lobby, Centreville began utilizing the interactive teller machine, which replaced some ATMs just before COVID-19 struck. At ITMs, Centreville customers could video chat with a local teller if they needed assistance or had any questions. This made it possible for locations to be open later in the day, Horvat said.
