University of Pittsburgh

Alumni Spotlight: ESB Bank CEO Honored with Pittsburgh Female Executive Award

Friday, June 27, 2014

Charlotte A. Zuschlag (MBA ’81), president and CEO of ESB Financial Corporation and its subsidiary ESB Bank, is a recipient of the 2014 BusinessWomen First Award by the Pittsburgh Business Times, given to the top female executives in western Pennsylvania.

Since 1989, Zuschlag has served as ESB’s president and CEO, and with her guidance, the bank has set record earnings during each of the past five years. The community bank, based in Ellwood City, about 30 miles northwest of Pittsburgh, has about two dozen branch locations in Allegheny, Beaver, Butler, and Lawrence counties and offers its customers checking and savings accounts, CDs, and loan services.

John T. Delaney, dean of the Joseph M. Katz Graduate School of Business and College of Business Administration, was recently congratulated Zuschlag on this much deserved award. 

Zuschlag is a member of the Pitt Business Board of Visitors and is a 2005 recipient of the Distinguished Alumna Award of the Joseph M. Katz Graduate School of Business. Additionally, University of Pittsburgh Chancellor Mark A. Nordenberg presented her with the university’s 225th Anniversary Medallion in spring 2013. The medallions were created to honor individual alumni whose achievements have brought honor to the University and whose efforts have contributed to Pitt’s progress.

In addition to her MBA from the Katz School, Zuschlag earned a bachelor’s degree in education from Grove City College.

In a March interview with the Pittsburgh Business Times, Zuschlag reflected on how history repeats itself in the community banking industry.  She’s seen it in the oscillations of mortgage rates and interest rates through her 40 years of industry experience.

“Everything cycles,” she said. “I think if you live long enough, every time you see something you’d never think you’d see again (you do)…I like this because I like change. I never know what any day is going to bring.”

She told the paper she enjoys working with her colleagues and is impressed with their tireless work ethic.

“Women were not in bank management when I started my banking career. Back when I started my banking career, women did not even sell real estate…I have three mentors…I owe them an awful lot,” she said.