Jonestown Bank & Trust Co. (JBT)
” From our beginnings in 1873 to the present day, our goal has remained the same. To serve the needs of the people who share this community with us. At JBT, we believe in the advantages of a true community bank. We all work to be involved with the community, the businesses, and the people we serve, as well as to develop and deliver products that serve their actual day-to-day banking needs.”
- website: https://www.jbt.bank/
Cannabis Banking Services
“At JBT, our team is committed to providing a safe and easy way to help grow your cannabis business. While many banks turn businesses like yours away, JBT has embraced working with cannabis-related businesses – in fact, our Chief Operating Officer is an Accredited Cannabis Banking Professional (ACBP). Best of all, JBT has services and solutions designed for the cannabis industry, including access to JBT’s Cannabis Banking Department!
JBT’s team of expert Certified Cannabis Banking and Accredited Cannabis Banking Professionals serve as a valuable point of contact for you and your business. The Certified Cannabis Banking Professional (CCBP) and Accredited Cannabis Banking Professional (ACBP) designations are the only ones of their kind in the banking industry and those who earn CCBP and ACBP certifications are recognized for their exceptional expertise and their commitment to supporting Cannabis related businesses.”
States Served:
- Delaware; Maryland; New Jersey; New York; Ohio; Pennsylvania; West Virginia
Official cannabis banking page: https://www.jbt.bank/cannabis-industry/
Media coverage:
- Lancaster Farming: Banks’ Fear of Hemp Leading Farmers to Take Risks
“When we started looking for a bank, so many of the ‘cannabis friendly’ options you find when searching online come with big fees, a lack of reviews and a lack of features,” Crysta Stehman said. “We’ve been thoroughly impressed with how normal our banking experience has been with JBT. They treat us just like any other business with extra regulations surrounding it.” “I’m not sure most banks truly understand the difference between hemp and marijuana, and so the overwhelming majority of banks will err on the side of caution,” said Ashley Hess, Assistant Vice President, Cannabis Banking Manager at JBT.
- Reading Eagle: While most banks pass on marijuana money, a Lebanon County institution welcomes the business
- That bank is one of fewer than 500 banks, out of about 6,000 banks nationally, that is providing banking services directly to the rapidly growing, multi-billion cannabis industry. Peters thinks JBT might be the only Pennsylvania-chartered bank doing so.
Bank Health Rating
DepositAccounts.com Rating: link
- DepositAccounts considers several health grade components:
- Texas Ratio (measuring bank credit risk);
- Texas Ratio trend;
- Deposit growth;
- Capitalization (difference between bank assets and liabilities).