From the President’s Desk
Fulfilling our pledge to Seacoast families and businesses
As our national and local economies continue the long process of healing from an extended downturn, I am pleased to report that once again Federal Savings Bank has turned in a robust performance. Not only is our Bank experiencing strong growth today, but we are laying the groundwork for continued success in the years to come.
Over the past year we experienced growth in total deposits of $13 million, earnings growth of over $600 thousand, and were able to grow the Bank’s assets by an impressive $8.5 million from 2011. We see the health of our Bank as a clear sign of renewed economic vigor in our entire region.
It’s easy to name the reasons for our success. Start with our customers across the Seacoast. Each of the local businesses and individual customers we serve made a decision to support true community baking, to keep assets close to home where they can be invested locally to make life better for all. Also responsible for our success are the talented, dedicated bankers at every Federal Savings Bank branch office. From teller windows to loan desks, my colleagues not only know their business, they know the region intimately. This is where they grew up and raised families. This is where they work for their friends and neighbors. I’d also like to mention the invaluable contributions of our Board of Directors, who bring their local insight and experience to our institution. This year we bid a fond farewell to Board members Lou McGrew, Richard Houghton and Robert Steele, community leaders who each served with distinction and helped us advance our mission. From Dick, Bob and Lou to our many customers and co-workers, they all stand for a pledge to support the values that bind our communities.
Those values begin with respect. This is why we spent the past year listening to what our customers and the wider community had to say about Federal Savings Bank, what you value most and what you’d like to see in the future from the area’s only true community bank. I’m grateful that the responses were so positive, and that so many of our customers share our community vision. You can see the results for yourself in our new, ongoing advertising campaign that shines a spotlight on the local business owners who are making a real difference in their communities through charitable giving and business investment that creates jobs and revitalizes the region’s economy.
Service is another key value at Federal Savings Bank, and in 2012 our dedication to service was realized on multiple levels. We continued our strong commitment to community – a commitment that goes back to our founding in Dover in 1890. Our support for a new YMCA facility in Strafford County, our participation in the campaign to enhance the Prescott Park Arts Festival, and our partnership with C&J Bus Lines to fight hunger in our communities are just some of the ways we fulfill our responsibility to local non-profit organizations and the communities that have supported us for so long.