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LETTER FROM THE PRESIDENT
& CEO
To Our Valued Customers and Neighbors:
In 1895 Peoples Trust & Savings Bank began its operations in Warrick
County and we remain locally owned and locally operated. These 114 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 75 years ago (in 1933). FDIC coverage has been
increased per depositor from $100,000 to $250,000 through December 31, 2009.
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 2008 and 2009, 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 completed its scheduled review at Peoples
in September, 2008. In addition, two noted bank rating organizations,
Bauer Financial, Inc. (www.bauerfinancial.com) and Bankrate, Inc. (www.
bankrate.com) have each given Peoples a Four Star rating out of a
possible Five Stars. Bankrate lists us as “Sound” and Bauer Financial
grades us as “Excellent”. 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 20%, more than 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.
Sincerely,
Mark Hart Hendrickson
President & CEO
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