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From the Office of the CEO
State of the Bank Update David Schneider, CEO December 2011 As the year comes to a close, I wanted to take this opportunity to update you about the Bank, our progress over the year and our plans going forward. As you know, the economy, both nationally and globally, remain the top stories of the year. I know the condition of our economy concerns everyone, as it should. I am pleased to report that our Company continues to remain strong and stable, even in these turbulent times. We are confident the Company is well positioned and has the necessary resources to remain successful.
During 2011, the Bank continued to acquire new customers and deepen relationships with existing clients. We are focused on providing superior service and exceeding our customer’s expectations. We invested heavily in improving our e-banking capabilities adding services like; e-statements, extended history viewing, account-to-account transfer, person-to-person transfers, mobile banking, an enhanced company homepage and more. We are happy to report that our residential and commercial lending remained strong and active. Our lending supports the growth and development of local businesses and its residents, as well as our Company. Our commitment to the community through our lending was possible because we continue to remain well capitalized and profitable. We made two key insurance acquisitions, adding Fairfield County Bank Insurance offices in Fairfield and Stamford. At the same time, our investment business, Fairfield County Financial Services, had its best year ever. These two departments combined with our banking network enable us to meet the banking, insurance and investment needs of all clients across the county while our e-banking capabilities allow clients to transact around the world.
Looking ahead to 2012, we expect the year to be a year of growth. We will continue to invest in our electronic capabilities, including increasing our ATM network by 20% with state-of-the-art machines. We remain committed to lending locally to support our communities and contribute to economic growth. We will remain civically active, support employee involvement in charitable endeavors and continue our significant financial support to numerous local organizations which, in 2011, exceeded $500,000.
In closing, I would like to take this opportunity to thank our customers and employees for their support and commitment throughout the year. We look forward to continued success in 2012.
David Schneider CEO
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