To
Our Customers and Friends,
Recent media reporting has raised concerns
over the safety and soundness of the nation’s banking system.
I want you to know that
Skowhegan Savings Bank is as strong as it has ever been in it’s 139
year history! Our
capital levels are over twice those required by banking regulations
and some of the highest in the industry.
Many of the problems being reported by the media
are the result of very aggressive mortgage or sub-prime lending by a
limited number of banks in very high growth markets such as
Las Vegas, Florida, and
California.
Skowhegan Savings Bank maintains the conservative community
focused lending policy that has served the Bank and our communities
so well throughout our history.
As your local mutual savings bank, we continue to serve our
communities with loan and deposit services that are focused on
meeting our customer’s needs, as opposed to shareholders.
Click here to
view a
questionnaire with responses to some of the frequently
asked questions about the current banking environment.
If you have any additional questions or concerns, please call
our customer service center at 1-866-630-4634 or stop in at one of
our branches. Thank you for the opportunity to serve your banking
needs as Your Partner for the Future.
Sincerely,
John C. Witherspoon
President and CEO
For our Annual Report
click here.
