About Us

Sturdy Savings Bank continued to support the local community in 2019 with donations and volunteer service by its employees. We made donations to 240 organizations totaling $198,883.

The ease of accessing our services through electronic channels remains a priority, and we offer a full range of online banking products. We are constantly looking for ways to employ new technology to enhance the electronic banking experience.

We recognize the retirement this year of one of our key members of the Sturdy Savings Bank Board of Directors, Mr. Henry J. Obergfell. He served on our Board for more than 15 years, and he was President of the Bank in 2005 and 2006. We wish him well in his future endeavors.

2019 was a profitable year for our Bank, and we increased our capital by over $6 million, which adds strength and stability to our financial statement and allows for continued loan growth in the communities we serve.

This year we activated our new Sturdy Savings Bank lnstagram platform to enhance our social media presence, and we invite you to stay in touch with us through our website, Facebook or lnstagram.

Sincerely,

Gerald L. Reeves
President and CEO

December 31

Statement of Condition

Assets

2019

2018

Cash and Due From Banks

$14,095,752

$21,304,117

Securities and Investments

223,084,707

203,489,270

Loans

543,240,102

550,253,107

Bank Premises and Equipment

21,242,756

21,380,125

Other Assets

44,185,169

44,354,406

TOTAL ASSETS

$845,848,486

$840,781,025

Liabilities & Capital

2019

2018

Deposits: Non-Interest Bearing

$165,009,557

$141,493,365

Deposits: Interest Bearing

576,099,168

601,335,631

Short-Term Borrowings

Other Liabilities

16,492,736

15,759,058

Total Liabilities

757,601,461

758,588,054

Total Capital

88,247,025

82,192,971

TOTAL LIABILITIES & CAPITAL

$845,848,486

$840,781,025

Board of Directors

Chairman
James M. Fisher

Vice Chairman

Raymond M. Burke, III

Eric D. Gaver

Linda O. Tozour

Henry J. Obergfell

Gerald L. Reeves

Douglas J. Heun

R. Scott Halliday

Sarah E. Sole

Solicitor
Monzo, Catanese, Hillegass, P.C.