The campaign of Pennsylvania businessman Steve Welch says it will report having more than $650,000 in the bank at the end of 2009.

Welch, a Republican running for the House, raised $100,000 from supporters, plus put another $150,000 of his own funds into his bid in the last three months of 2009 — in addition to the more than $500,000 that he already loaned his campaign last year.

It’s money that Welch will need if he stays in the race now that Rep. Jim Gerlach (R-Pa.) has announced that he will run for re-election to his former seat instead of run for governor.

The National Republican Congressional Committee is backing Gerlach, but Welch has yet to make a final call about whether he will challenge the incumbent Congressman in the May 18 primary. Gerlach, meanwhile, reported having less than $35,000 in his campaign account at the end of September — and it’s not clear how much, if any, of the $1 million he raised in the gubernatorial race can be transferred.