Fidelity Bank has reopened the restored Scranton Electric Building as its new corporate headquarters, completing a roughly $30 million renovation of the 1896 downtown landmark that is expected to bring 165 professional jobs to the city.
The project consolidated multiple Fidelity offices into one space and relocated the bank’s downtown Scranton branch. Officials said the new Corporate Center will boost the region’s economy and support future growth as the company anticipates expanding its workforce with the building’s additional space.
Fidelity received $9 million from the state as part of its Redevelopment Assistance Capital Program, including a $5 million grant that helped the bank complete exterior repairs, roof replacement, interior updates and critical mechanical and electrical upgrades.
“Scranton plays a vital role in the strength and growth of our region, it truly is the keystone of Northeastern Pennsylvania,” said Dan Santaniello, president & CEO of Fidelity Bank. “As we welcome clients and bankers into our new Corporate Center, we are proud to bring new energy into this iconic building and further contribute to the revitalization of downtown Scranton.”
The landmark building was long-considered Scranton’s first skyscraper. Fidelity preserved the building’s iconic, glowing “Electric City” sign that became a symbol of the city’s industrial heritage, in addition to preserving the building’s original woodwork, marble, and brass details, and restoring the building’s floors, including the historic ballroom.
“When the historical Scranton Electric building became available, we saw an opportunity, not simply to purchase a building, but to preserve an important piece of Scranton’s history and give it a new purpose — but we needed help,” said Brian Cali, Chairman of the Board of Fidelity Bank. “The Governor and his Administration believed in the opportunity, and the Commonwealth’s investment helped make it possible. Together, we got it done, ensuring that this historic building remains an active and important part of this city for decades to come.”