About Us

As we enter the year 2017, Sturdy Savings Bank recognizes its 95th birthday.  The Bank was started in 1922 in Stone Harbor, NJ.  We still operate a branch in Stone Harbor today and it has been joined by 12 other local branches during those 95 years.  We remain a local community bank with a mutual charter - the 170 employees who serve you are also members of your community.

We had strong asset growth of over $61 million, impressive deposit growth of over $54 million, and solid capital growth of over $3 million in 2016.

Sturdy Savings Bank has witnessed many changes in the banking community during the past 95 years, yet we remain ever-sturdy.  Our relationship between our employees and you, our valued customer, is paramount, and we look forward to continuing to serve you with the same commitment and strong core values that we've held for nearly a century.

Sincerely,

Gerald L. Reeves
President and CEO

December 31

Statement of Condition

Assets

2016

2015

Cash and Due From Banks

$16,072,747

$12,812,807

Securities and Investments

264,140,499

241,043,280

Loans

475,399,932

441,698,136

Bank Premises and Equipment

21,443,814

21,536,688

Other Assets

47,752,036

45,792,640

TOTAL ASSETS

$824,809,028

$762,883,551

Liabilities & Capital

2016

2015

Deposits: Non-Interest Bearing

$126,105,767

$108,573,029

Deposits: Interest Bearing

581,681,093

544,296,267

Short-Term Borrowings

17,500,000

14,500,000

Securities Sold Under Agreements to Repurchase

10,000,000

10,000,000

Other Liabilities

14,137,080

13,383,957

Total Liabilities

749,423,940

690,753,253

Total Capital

75,385,088

72,130,298

TOTAL LIABILITIES & CAPITAL

$824,809,028

$762,883,551

Board of Directors

Chairman
James M. Fisher

Vice Chairman
Arthur G. Craig, Jr.

Raymond M. Burke, III

F. Nathan Doughty, Jr.

Eric D. Gaver

Linda O. Tozour

Henry J. Obergfell

Gerald L. Reeves

Douglas J. Heun

Solicitor
William R. Serber