September 2011
To Our Valued Customers and Neighbors:
In 1895, Peoples Trust & Savings Bank began its operations in Warrick County and we remain locally owned and operated. These 116 years of experience continue to reinforce our focus on sound money management and superior financial strength. We are, and have continuously been, insured by the Federal Deposit Insurance Corporation (FDIC) since its inception 78 years ago (in 1933). To our customers, that means additional safety.
We have not wavered from prudent banking practices which are consistent with responsible management decisions. Peoples Bank has not participated in sub-prime lending, nor have we purchased investments that are backed by sub-prime loans. To our customers, that means sureness. While banks across the country are experiencing loan delinquency rates of 5% or greater, Peoples Bank is proud of its low delinquency rate. During 2011, our delinquency has been 1% or less. To our customers, that means soundness.
Like all banks, we are regularly and routinely examined by regulators every 18 months. The FDIC just completed its scheduled review at Peoples in August. In addition, the bank rating organization, Bauer Financial, Inc., (http:/www.bauerfinancial.com) has given Peoples its top rating of Five Stars. Bauer Financial grades us as Superior. To our customers, that means security.
One very important measure of a bank is its Capital Reserve. Peoples Bank’s capital ratio is greater than 18%, which is double the requirement of federal regulation. It’s our “nest egg”, and to you, our customer, it means peace of mind.
In a world where most financial institutions present themselves as everything to everybody, we’ve taken a different path. Our mission is to deliver exceptional customer service and to support our community with dedicated involvement. Our goal is not to become the biggest; rather, our goal is to continuously improve our abilities and our service to our friends and neighbors. Thank you for entrusting Peoples Bank with the privilege of serving your banking needs, which now include free checking, internet banking, bill pay and mobile banking.
As always, we welcome new customers to try our products and services. We invite you to experience what it means to be a Peoples customer.
Sincerely,
Mark Hart Hendrickson
President & CEO
