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Dollar Bank Announces the Retirement of Mona N. Generett, Ph.D. as Vice President for Community Development

July 25, 2012

In managing and developing Dollar Bank’s lending, grant making and outreach strategies to low and moderate – income communities, Dr. Generett served as a catalyst in the creation of products and services which ensures Dollar Bank’s relevancy to the widest range of individuals and businesses. On July 31, Dr. Generett will retire after 18 years of service. Understanding the region’s people and their needs was her passion.

Under Dr. Generett’s leadership, Dollar Bank’s federal ranking was outstanding or “best in class” for 18 consecutive years in the area of Community Reinvestment. The bank has consistently been highly praised for its’ residential and community development lending, for its’ investments and generous grants to organizations that provide services in low and moderate – income areas and families and for its’ overall community leadership.

Dr. Generett’s responsibilities also included the bank’s award winning Credit Enhancement Program that provides in-house credit counseling and restoration services to low and moderate-income borrowers shut out of the housing market because of inadequate income, insufficient savings, excessive debt and/or poor credit. She founded the homebuyer workshop and program known as Mortgages For Mothers when she concluded that female heads of households had a unique set of hurdles beyond simply financial that were preventing them from becoming homeowners. Both the Credit Enhancement and Mortgages For Mothers programs have helped thousands of residents become long term homeowners with low delinquency rates. During Dr. Generett’s years of service, Dollar Bank has often taken the lead on a number of sophisticated, sometimes challenging urban development projects including several multi-million dollar projects in East Liberty, the $60 million August Wilson Center for African American Culture and several buildings which are the cornerstone of the new commercial corridor of the Hill District.

Dr. Generett’s diverse career has included Higher Education, Non Profit Administration, Federal and Municipal Government Service and Banking. The first of her race to hold several administrative positions, including Dean of Students at Chatham College, she has served on Blue Ribbon Committees and Boards at the request of Governors of both political parties. Mona Generett currently serves on the Board of The Community College of Allegheny County, The Pittsburgh Partnership for Neighborhood Development, The August Wilson Center for African American Culture, AAA East Central Motor Club and the Shadyside Hospital Foundation. She is a former member and Vice Chair for the boards of the YWCA and the United Way of Allegheny County and a former member of the boards of the Pennsylvania Higher Education Assistance Agency ( PHEAA ), Carriage House Children’s Center (member of the founding board), Executive Women’s Council (charter member), Family Health Council of Western Pennsylvania, Children and Youth Services of Allegheny County, the American Red Cross, the Pittsburgh Child Guidance Foundation, The Ellis School, Family Resources, Magee-Women’s Hospital Foundation and WQED Multimedia.

Dr. Generett was honored in 1997 with the YWCA Tribute to Women Leadership Award and in 1998 by the Pittsburgh Community Reinvestment Group as Most Outstanding Community Development Officer. In 2004, she received that groups’ Lifetime Achievement Award and in May 2006, was named Professional Woman of the Year by the National Association of Negro Business and Professional Women’s Club, Inc. In 2009 and 2010, Mona received the Pittsburgh Business Times Award and the Share and Care Award for her professional accomplishments and community leadership. At the same time she was also named a Pittsburgh Courier Woman of Excellence.

A native of Birmingham, Alabama, Dr. Generett holds degrees from Spelman College, Indiana University (Bloomington, Indiana) and the University of Pittsburgh. She is a Graduate of Leadership Pittsburgh, Class IV.

About Dollar Bank

Dollar Bank is the largest independent mutual bank in the nation with assets of more than $6 billion.* Today, Dollar Bank operates more than 60 offices and loan centers throughout the Pittsburgh and Cleveland metropolitan areas. For 157 years, Dollar Bank has grown to become a large, full service, regional bank committed to providing the highest quality of banking services to individuals and businesses. Dollar Bank (www.dollarbank.com) is headquartered in Pittsburgh, Pennsylvania.

*Source: fdic.gov, mutual institutions as of 3/31/12.

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