Mustang Scholars Foundation

 

Mustang Scholars Foundation

Mustang Scholars Foundation

Mustang Scholars Foundation

Mustang Scholars Foundation



Rich Hocker is a Great Example of a True Mustang

Get to know Our 2012 Man of the Year

On the evening of September 12, 2012 the dedication, hard work and generosity of the Mustang Scholars man of the Year will be formally recognized and celebrated.

Mustang Scholars Man of the Year 2011 Bio for Rick Ill

With roots in the Mustang Scholars tradition in more ways than one, our honoree graduated from Valley Forge Military Academy in 1964.

Today Rich Hocker serves on the Valley Forge Military Academy & College Board of Trustees.

He humbly credits his success to the encouragement of his parents and sense of discipline learned at Valley Forge.

Raised with modest beginnings by hard-working parents in rural Cape May County, New Jersey, Rich observed the value of working hard and lending a helping hand.

Rich’s mother, Ethel Mae, knew that her son would receive a better education at VFMA than at the local public high school. It was at VFMA that Rich learned about achievement.

Rich then went on to attend American University, where he became the first in his family to earn a college degree. He went on to earn an MBA in finance from AU’s Kogod School of Business.

A contributor to the building of the Kogod School’s new business hall, Rich donated Bloomberg terminals to AU’s state-of-the-art Financial Services lab. In 2010, American University honored Rich with the Alumni Recognition Award for inspiring the world through service to the community.

At just 27 years old, Rich served as the head of the Investment Division of Provident National Bank, a $3 billion regional bank that is now a part of PNC Bank.  He then went on to become Partner at Delaware Management Co., where he was a pioneer in launching and developing one of the country’s first high yield bond mutual funds and assisted in growing the firm from $300 million to $23 billion.

In 1988, Rich founded Covenant Bank in New Jersey and, as Chairman, grew the bank to 16 branches with $500 million in assets before selling to Wachovia, which is now part of Wells Fargo.

Today, as Chief Investment Officer of PENN Capital Management Company, Inc., Rich leads the company he founded 25 years ago, managing over $6 billion in assets for some of the nation’s largest institutions.

Giving back to the community and those in need is a passion for Rich and his wife Marcia. This passion led them to found The Ethel Mae Hocker Foundation, named after Rich’s mother. The Foundation partners with eight Philadelphia-area private schools to provide college scholarships for disadvantaged youth. A true family Foundation, Rich’s daughter, Kirsten A. Mason is the President of the Ethel Mae Hocker Foundation, and daughter Kimberley Hocker serves on its Board of Trustees.

Rich realizes that many of his scholars do not have the family support that he had, so it is important that he help them not only financially, but also with encouragement. He speaks proudly of scholars who came from challenging inner-city backgrounds to be recruited for academic and athletic scholarships by major universities.

When asked about his personal motto Rich says, “In America hard work brings results, and you are expected to give back at some point in your life in some way.”

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Mustang Scholars man of The Year Award

In the military, the word ‘mustang’ has a special meaning:

It describes a person who by strength of character, ability and discipline, rises through the ranks of the enlisted to become a commissioned officer.

Historically, ‘mustangs’ have been a select few.

Penn Capital Management

 

Mustang Scholars Foundation, Inc., 208 Chestnut St, Reading, PA 19602
Phone: 610-901-0015

 

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