Alden is an independent investment firm whose representatives have been working with community banks for over 30 years, with its headquarters in Pennsylvania. Alden helps banks navigate and invest in community reinvestment act investments, employee benefit products, and has a fund that invests directly in community bank equities.
Alden’s CEO, Lee Calfo, has worked as a community bank analyst since the early 2000s along with Alden’s director of research Joe Gladue. Two Alden portfolio managers, Ted Peters and Jason O’Donnell, run the CFI Fund, which has been investing in community bank stocks since 2014 when Ted retired as CEO of Bryn Mawr Trust.
Alden’s broker/dealer has over 100 professionals specializing in bank-owned life insurance and other related benefits that they represent to over 800 clients across the United States. Alden says that they are “fully committed to our financial institution’s group and seek to provide products and solutions to banks that other firms are not bringing them which can help banks control costs, meet CRA needs, and expand non-interest income.”
Alden believes that independence is key to financial success, which is why they have a full-service broker/dealer and registered investment adviser entities that they own and control. In addition, Alden sees that technology, along with vastly increased investment alternatives, is changing the way both people and companies invest, manage assets, borrow money, and raise capital. Alden Investment Group’s mission is to offer products and services for individuals and institutions that are designed around these opportunities, which they say is “made possible by our independence.”
Alden knows that banking is a significant part of the U.S. economy, as well as tremendously important to local business and individuals to be able to finance their home purchases, business funding needs, safely save money, and achieve many other financial goals. Alden sees that community banks are on the front line of helping “Main Street” individuals and businesses as compared to large banks which generally do not make decisions based on the local needs of the community in which they operate. Alden’s financial institution group’s products and services are designed to help community banks grow, increase income, and thrive in the ways they interact with key stakeholders, including employees, customers, and investors.
In 2023, Alden is looking forward to furthering opportunities to speak, visit, and engage with community banks and PACB to determine the product and service needs of Pennsylvania’s community banks. Alden has numerous institutional and individual clients across the commonwealth, as well as several dedicated salespeople in their financial institution group who focus on community banks in Pennsylvania. Alden plans to have significant representation at PA community bank conferences and events, as well as hold on-site visits in 2023.