For Immediate Release
Federal Savings Bank Receives “Outstanding” Rating
Dover - Federal Savings Bank President and CEO, James J. O’Neill, Jr., is pleased to announce that the Bank has recently received an Outstanding rating from its federal regulator during their most recent Community Reinvestment Act (CRA) performance examination.
The federal CRA, enacted in 1977, requires banks to help meet the credit needs of the communities they serve, including low- and moderate-income communities. Federal regulators monitor whether banks are fulfilling their CRA obligations and rate each bank based on lending, service and investments in their communities. The Outstanding rating, the highest rating given by bank regulators, is consistent with Federal Savings Bank’s mission to actively and positively contribute to the quality of life in the communities they serve.
“We are extremely proud of this achievement,” according to O’Neill. “We take our responsibility as a corporate citizen very seriously, as do other businesses in this area, which makes the Seacoast region a great place to live and work.” O’Neill also recognized the commitment of the Bank’s employees and their willingness to be actively involved within the community. “Empowering our employees to make a difference locally is something that has always been of critical importance to our organization and we recognize their efforts and dedication as a contributing factor to our receiving this achievement,” he added. The Bank was recognized for many community-based programs including financial literacy in the local school systems, an income-based home winterization loan program and providing free credit reports for a local low-income housing organization.
Since 1890, Federal Savings Bank has operated as a true community commercial bank. Named 2009 Business of the Year by the Portsmouth Chamber of Commerce, the bank has offices in Dover, Barrington, Durham, Portsmouth and recently opened its fifth office in downtown Rochester. For more information, call toll free at 1-800-462-2265 or visit www.fsbdover.com.
Former major league baseball pitcher and current Psychology Coach for the Boston Red Sox, Bob Tewksbury, made an appearance at the Federal Savings Bank Apple Harvest Day booth. Federal Savings Bank is the proud underwriter of Apple Harvest Day, which is a fall festival produced by the Greater Dover Chamber of Commerce.
Federal Savings Bank employees volunteer every year to participate in the American Cancer Society's Relay for Life Walk. Over the last few years, FSB employees have raised over $15,000 for the American Cancer Society.
For over 10 years, Federal Savings Bank has participated in the United Way's Day of Caring. A group of FSB employees volunteer to help work at a deserving non-profit organization for a day. Here, a group of FSB employees help do yard work at a youth camp in Strafford.
Each year, Federal Savings Bank employees volunteer to produce an internal campaign to raise funds for the United Way. The staff picks a theme, prepares a breakfast and holds several fundraising activities throughout the year.
Federal Savings Bank partners with Seacoast Media Group and The United Way to produce the annual Spirit of the Seacoast awards. Federal Savings Bank employees serve on the committee that selects deserving volunteers in the community to receive special recognition. FSB grants each recipient a $500 grant to donate to a non-profit organization. To date, FSB has donated over $12,000 to the Spirit of the Seacoast program. In this photo, FSB Vice President, Kelly Glennon, presents a volunteer award to John Miskus, a volunteer for the Dover Adult Learning Center
FSB Vice President, Kelly Glennon, receives the 2006 Volunteer of the Year Award from the Greater Dover Chamber of Commerce.
FSB recently pledged a $50,000 donation to the capital campaign for Cross Roads House, a homeless shelter in Portsmouth. In this photo, FSB employees Kelly Glennon, Deb Scott and John Crisp attend the Cross Road House annual fundraising benefit.