couple sitting at bar inside resturant


February 22, 2021

Jonathan Spanos could have sold the third generation York County restaurant in 2019 twice over, but it “didn’t feel right.” Today, he’s grateful for the opportunity to continue the family business, a tradition of stewardship and service.

Jonathan Spanos didn’t want to make a quick decision about selling his family’s third generation restaurant.

He had a full asking price offer for The Paddock on East Market Street in York County sitting on the table. Maybe it was the opportunity he and his wife, Sally, were looking for to finally make the move to Naples.

But when prospective buyers would ask employees if they’d stay on after the sale, several said no – they’d follow Jonathan and Sally wherever they went.

“I knew then that it wasn’t the right time,” Jonathan says. “We weren’t done here. We still had work to do.”

When he turned down that offer in the fall of 2019, he could never have known his business would soon face the biggest challenge of its long, successful tenure.

A Family Tradition

Jonathan was never supposed to take over the family business. In 2012, his parents, James and Angie, decided they were ready to retire. With no formal succession plan in place, Jonathan, the oldest of their three children, stepped in after a career in public service.

He and Sally committed to a major renovation of the restaurant, changing the atmosphere from what the community knew as a “bar with a restaurant” to a “restaurant with a bar.” It would become best known for its award-winning Chesapeake jumbo lump crab cakes, seafood, prime rib, and other locally sourced fare.

PeoplesBank was with them through the entire renovation, not only providing the financing to bring the vision of the restaurant to life, but to later sit at the table as a customer.

“The most successful business is built on relationships,” Jonathan says. “Those relationships have been imperative for us. For that we are forever grateful.”

On nights when Jonathan locked up the restaurant, worried if they’d make it through the challenges of 2020, that’s when he’d get a call from the business banking team at PeoplesBank. Someone was always checking in, he says.

“We can’t say enough for the support we have from PeoplesBank,” Jonathan says. “Sally and I appreciate and understand the importance of family, customers, staff, community, and our core business partners. PeoplesBank is family. Their commitment to their clients and community is unmatched.”

Are you interested in learning more about how PeoplesBank can help your business? Talk to one of our Financial Mentors today via a video call and let us help you achieve your dreams and reach your goals.

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