About Us

The year 2018 was one of positive growth and transition at Sturdy Savings Bank.  We were excited to expand our market with the opening of our new Marmora branch location.  This brings our count to 14 branches that serve our customers.

During the year, we also saw strong loan growth of over 29 million dollars.  This growth can be attributed to loans to homeowners in our market area as well as loans to local businesses.

We also ventured into the realm of social media in August 2018 with the launch of our official Sturdy Savings Bank Facebook page.  We post regularly about our employee milestones, branchwide events and community involvement, and we invite you to "Like" our page and join the conversation.  Our financial services group changed to a new financial services partner.  This new partnership enhances our ability to provide a broad range of products and services.

A transition also took place among our Board of Directors, with the retirement of two of our esteemed members, Arthur "Toby" Craig and Floyd "Nate" Doughty.  Each of them served our Board for more than 25 years, and we are grateful for their service.  Their positions have been filled by two very capable individuals known well in the communities we serve: R. Scott Halliday and Sarah "Betsy" Sole.

We are excited to see what the New Year brings, and we thank you for your continued support of Sturdy Savings Bank.  We look forward to seeing you in our branches, on Facebook and in and around our communities.

Sincerely,

Gerald L. Reeves
President and CEO

December 31

Statement of Condition

Assets

2018

2017

Cash and Due From Banks

$21,304,117

$17,131,795

Securities and Investments

203,489,270

228,473,113

Loans

550,253,107

520,518,439

Bank Premises and Equipment

21,380,125

21,103,284

Other Assets

44,354,406

43,431,036

TOTAL ASSETS

$840,781,025

$830,657,667

Liabilities & Capital

2018

2017

Deposits: Non-Interest Bearing

$141,493,365

$127,435,416

Deposits: Interest Bearing

601,335,631

572,443,265

Short-Term Borrowings

38,100,000

Other Liabilities

15,759,058

14,690,761

Total Liabilities

758,588,054

752,669,442

Total Capital

82,192,971

77,988,225

TOTAL LIABILITIES & CAPITAL

$840,781,025

$830,657,667

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.