On behalf of the entire BSB team, we hope that your holiday season was enjoyable and that your new year is off to a positive start.
As we enter 2018, we are pleased to report that our bank financials have been strong for the first quarter of our fiscal year. Our strength and stability have positioned us for a year of continued growth and advancement. We are equipped to better meet the needs of our customers and community as we continue to move forward, and we are ready to embrace the opportunities that are ahead.
After 41 years with BSB, Bob Todd has retired from his most current role as Chairman of the Board of Trustees. We wish Mr. Todd the best in his retirement.
John D. Hopkins, Jr., who has previously served as Vice Chairman, will now assume the role as new Chairman of the Board. Mr. Hopkins originally joined BSB as a Corporator in 1986, and was later elected as Bank Director in 1987. He also became a Trustee of the Mutual Holding Company upon its formation in 2004.
Stephen Hall will replace Mr. Hopkins as Vice Chairman of the Board of Trustees. Mr. Hall was first elected as a Corporator in 2002, and later elected as a Trustee of the Mutual Holding Company in 2007. In 2012, he was elected as a Bank Director.
We are grateful for the willingness and desire of these influential individuals to take on new roles and responsibilities. Together, they will continue to have a positive impact on our financial institution.
In an effort to raise money for local food pantries, we hosted a “Likes for Charity” campaign on our Facebook Page for the month of November. We committed to donate $5 for each new page “Like” during the allotted time frame. Funds from the campaign were coupled with those gathered during our Shred Day and Employee Dress Down Day events, and we are happy to report we were able to donate $765 to each of the 10 local food pantries we had pledged to support.
PRODUCT & SERVICE HIGHLIGHTS
We are ever mindful of the changing rate environment. As rates have increased slightly, we have followed the market closely and introduced CD specials for our customers. We will continue to make adjustments as necessary with the best interests of our customers in mind.
As you make plans for the coming year – and years ahead – we would like to remind you of the benefits of the financial planning services offered through Bridgewater Financial Advisors (BFA). The start of the year is a great time to resolve to put a better plan in place, or reevaluate your existing plan. Regardless of where you are and what your goals may be, BFA is a reliable resource for your financial planning needs.
We are continually searching for ways that we can make banking easier for our customers. In the year ahead, we plan to continue exploring ways to optimize convenience with our products and services. We are optimistic that we will be able to improve and expand our suite of digital services as well.
Thank you for helping us make 2017 a record year. We are appreciative of the trust that you place in us year after year, and hope to exceed “uncommon” banking expectations throughout 2018.
Peter Dello Russo
President and CEO