Press Release

Firstrust Bank provides the next evolution in banking to your desktop

June 17, 2005 — Firstrust Bank is pleased to announce an addition to its product line with ReadyDeposit sm , a cutting-edge electronic payment system that will bring added convenience and efficiency to its business customers.Utilizing technology developed by BankServ, a leading electronic funds transfer provider for the banking industry, ReadyDeposit is a unique product that combines the benefits of two changes in banking regulations that cover electronic transactions: Accounts Receivable Conversion (ARC) and Check 21.

“We are excited to offer this technology to our customers that will not only accelerate their availability of funds, but also extend the value of check imaging to make it more convenient to bank with us,” said Jeff Levin, Senior Vice President and Commercial Product Manager for Firstrust. “We chose to partner with BankServ because they are a pioneer in this technology and share our commitment to bringing value to our customers.”

Using a small image-capture device attached to their PC and the Internet, Firstrust customers will be able to capture the front and back of consumer checks, convert them into electronic ACH (Automated Clearing House) debits and securely send the transactions over the Internet for electronic clearing. Similarly, customers will also be able to take non-consumer based checks and convert them into electronic Check 21 images that can be deposited and cleared. ReadyDeposit complies with recent changes in banking regulations that allow businesses to convert paper checks into electronic transactions, as well as expedites payment processing safely and securely without needing to leave the office. In addition, the cost associated with moving paper from their office to the bank and then to the bank where the check is drawn is eliminated.

ReadyDeposit doesn’t require any software since it runs totally on the Internet and the check images are stored in BankServ’s high security data center. Firstrust customers will be able to access the images for research and the product will also enable them to create reports and download information into their general ledger systems.

Peter Hosokawa, General Manager of BankServ’s Enterprise Payments Division said, “The Check 21 legislation and the changes for the Automated Clearing House system addressed the regulatory side of electronic bank deposits, the Internet made it technologically possible and now we have a bank who sees the value of eliminating the need for their customers to visit their bank everyday.”

About Firstrust

With assets of $2 billion, Firstrust is a financially strong, privately held, family-owned bank with commercial and retail services throughout 24 community banking offices located in Bucks, Burlington, Chester, Lehigh, Montgomery and Philadelphia Counties in Pennsylvania. For more than 70 years, Firstrust has met the needs of its customers with a comprehensive array of financial services, including deposit products, consumer and business loan options, commercial real estate mortgages and cash-management products. A wide variety of investment and insurance products is available through Firstrust Investment Services (FIS), and commercial mortgage loans and equipment-leasing services are available through Apex Mortgage Corporation and FirstLease, Inc. wholly owned subsidiaries of Firstrust.