Easthampton Savings Bank president: assets surpass $1 billion
EASTHAMPTON – Easthampton Savings Bank had its quarterly Director’s meeting on Jan. 15.
Matthew S. Sosik, president and CEO of Easthampton Savings Bank, reported that the bank’s total assets surpassed $1 billion at the end 2013.
“2013 was just the latest in a long string of years with terrific financial performance for the Bank and reaching the mark of $1 billion in assets was truly historic for us,” Sosik stated.
Bozena C. Dabek, senior vice president and CFO, reported the bank’s assets were up $34.8 million from a year ago, an increase of 3.6 percent.
“Easthampton Savings Bank continues to be one of the most highly capitalized banks in the area, with a capital ratio of 12.6 percent,” she added.
Dabek noted that “total loans increased $45.2 million over the last quarter.” Total loans now stand at $726.1 million.
She also commented that the bank’s deposits grew 4 percent or $32.3 million for the year and were up $15.4 million for the quarter.
“Total deposits are now $828.3 million,” Dabek added.