Annual Report Archives | Piscataqua Savings Bank

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1/14/21 – Due to USPS delays, you may experience a delay in receiving statements and other Bank correspondence.

Category: Annual Report

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ANNUAL REPORT 2019

Be The Change ANNUAL MEETING OF THE CORPORATION President’s Message Rick Wallis, President/CEO It’s been quite the year since the vote to become a certified B Corporation in May of 2019. We have seen many of the benefits of becoming a B Corporation come to fruition. I’ve had opportunities to speak with several potential new…

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ANNUAL REPORT 2018

President’s Message Strengthening Mutuality Last year at the Annual Meeting you heard firsthand about the rich history of the Bank that has been rooted in the vision of the Bank’s founding fathers; a mutual savings bank to serve the financial needs of the Seacoast community. It was a unique time when local citizens got together…

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ANNUAL REPORT 2017

President’s Message In conjunction with the building renovation, a Historic Committee has been formed to discover, preserve and display the Bank’s past. The cover to this report is an example of some of the discoveries and is appropriate that it shows an advertisement when the Bank first moved into 15 Pleasant Street in 1925 with…

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ANNUAL REPORT 2016

President’s Message There were glimmers of economic improvement in 2016 after what has been a decade of challenges. The Federal Reserve Bank raised the Federal Funds rate on December 14th by one quarter of one percent, only the second increase since December 16, 2008 when the rate was lowered to virtually zero percent. Loan originations…

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ANNUAL REPORT 2015

President’s Message Looking to the future of Piscataqua Savings Bank was the theme for 2015. The Board of Trustees and management completed an update of the 3-5 year strategic plan. The goals that resulted from this planning address the fast-paced changes occurring in the financial services industry. Being relevant to the next generation of bank…

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ANNUAL REPORT 2014

President’s Message As you will read in this annual report, 2014 was another successful year despite the head winds created by continued low interest rates and ever increasing regulatory burden. Also, new milestones were reached as 2014 came to a close, including anniversaries and record business levels. This year marks the 25th anniversary of the…

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ANNUAL REPORT 2013

President’s Message Just as it is stated in our Value Statement shown on this report cover, Piscataqua Savings Bank is very different than other financial institutions. What makes Piscataqua so different in such a homogenized industry? Is it due to being a mutual savings bank, its retail focus, or its people devoted to serving its…

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ANNUAL REPORT 2012

President’s Message As you will see from the enclosed financial statements and the senior officer summaries, the Bank had another successful year in 2012. It will go down as a year of considerable change, from a switch at the helm and introducing new products to meet customer demands, to preparing the Bank to weather the…

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ANNUAL REPORT 2011

A look back… Twelve years ago, as the newly appointed President of Piscataqua Savings Bank, I remarked in the Bank’s January 2000 newsletter that it was my privilege to have been given the opportunity to lead this special institution which has been such an important part of the Portsmouth community since 1877. Although the challenges…

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ANNUAL REPORT 2010

Piscataqua Savings Bank again remained in the forefront of Portsmouth’s banking community. During 2010 we developed many new customer relationships as a result of referrals by existing customers, an ongoing recognition of the Bank’s important role as a respected corporate citizen in the Portsmouth community, and continued dissatisfaction with large institutions. Our lending staff originated a…

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ANNUAL REPORT 2009

This past year epitomized the significant importance of a bank like Piscataqua Savings to its community. Few times in history has the public been as angry at the “big banks.” Most consumers may not understand the specifics of what happened to cause the financial crisis, but they have become much more aware that local banks operate…

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ANNUAL REPORT 2008

The year 2008 presented a challenging environment including nothing less than a recessionary economy, dysfunctional credit markets, a collapse in consumer confidence, and major losses throughout the investment markets. In the midst of these conditions Piscataqua Savings Bank remained strong. The Bank benefited from its independent mutual form of ownership and its focus on serving local…

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ANNUAL REPORT 2007

A look back at 2007 reflects well on the many strengths of Piscataqua Savings Bank. I have outlined several of the Bank’s most significant results. I do hope you will take the opportunity to read each of our senior officer’s summary for the results within their area of the Bank. Earnings improved Net interest income and…

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Annual Report: Weathering the Economic Climate of 2007

New Hampshire Bank Commissioner, Peter C. Hildreth, addresses Piscataqua Savings Bank Board of Trustees and Corporators at recent Annual Meeting. Peter C. Hildreth, Bank Commissioner, for the State of New Hampshire recently addressed our Board of Trustees and Corporators during Piscataqua Savings Bank’s Annual Meeting. This past year has initiated an aura of pessimism and fear….

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