To Our Valued Customers & Community Members:
I am pleased to report that North Brookfield Savings Bank completed its 163rd year of strong financial results in 2017. Assets grew to $301,748,000 and capital remains strong at $35,108,000. The Bank experienced both loan and deposit growth and welcomed many new customers.
At NBSB we value our customers and are pleased to serve them, whether we are helping a business with a loan, assisting a family with financing a home or saving for the future. We proudly know you by name, are easily reachable by telephone, and we are always here to help.
Increased advances in technology continue to transform customer experiences and expectations. More people are taking advantage of online banking, including online consumer and mortgage applications and mobile banking with mobile check deposit. However, these additional channels have not diminished our in-person branch visits. In contrast to industry trends that show a decrease in branch transactions, NBSB’s branch transaction volumes remain steady. We attribute this to the high quality of personalized service and attention that our customers receive, which is why the theme “Service” is fitting for this year’s Annual Report.
We know that when we serve you well we are helping you to create a secure financial future. As a mutual savings bank, decisions are made with the best interest of our customers in mind. We view every decision based on our values: People matter, we do the right thing and we maintain our high standards of service excellence.
Our employees play a vital role in the success of the Bank and our communities. They volunteer countless hours in support of the neighborhoods that we serve and they know the importance of community service. Whether we are making financial contributions, providing resources to the community or helping with financial literacy, NBSB plays a vital role.
In 2017, we welcomed three new Trustees to our Board, Tracy Opalinski, Harold (Ray) Chesson III and Vincent Lucchesi. Their experiences and backgrounds will certainly be of value to the Bank. We also experienced the retirement of Trustee John R. A. Lofgren following a total of thirty-seven years of service to the Bank and the passing of Trustee Alan R. Varnum who served the Bank for twenty-four years. NBSB is sincerely grateful for their experience and guidance provided throughout the years.
In closing, I would like to thank you, our customers, for your continued support and trust. To our Officers, Employees and Trustees, thank you for your dedicated service and for making 2017 another successful year.
Donna L. Boulanger
President & Chief Executive Officer