In addition to his State Senate work, Fumo is associated with the Philadelphia Law firm of Dilworth Paxson LLP. He was the Chairman of First Penn Bank. The bank was founded as Pennsylvania Savings Bank, by his grandfather. Fumo took over control after his father was convicted of bank fraud in 1976. The bank grew rapidly under Fumo's control from $1.5 million in assets to about $550 million, and was eventually sold in 2007 for $94 million, potentially netting $19 million for Fumo.