April 15, 2010 – Portsmouth, NH – Piscataqua Savings Bank recently held its Annual Meeting of the Corporation at Breakfast Hill Golf Course. In attendance were senior Bank officers, members of the Board of Trustees, and members of the Board of Corporators.
The Corporators represent individuals from the community asked to serve in an oversight capacity. They annually elect the Board of Trustees and ensure that the Bank operates in the best interest of its customers and the community. This year the Corporators voted to re-elect the following Trustees: Kenneth R. Clark, Michael J. Asselin, Charles A. Griffin, Ann H. Peters, Barbara Shea-Smucker, Jay S. Gibson and Vincent Taccetta III.
Bank President and CEO, Jay S. Gibson reported on the results of 2009, stating that, “2009 was a great year to be a community bank, a mutual bank, and a bank in existence solely for the benefit of its customers. In a year of major distress in the financial services industry, Piscataqua Savings Bank experienced significant growth in every area of services we provide.”
Announcing record growth, Mr. Gibson also reported on the Bank’s ongoing support of the community. He said, “We proudly provided more than $100,000 in financial support to a range of non-profit and cultural organizations throughout our community.” He concluded that the Bank would continue to differentiate itself while identifying risks and opportunities to maintain the financial strength of the institution.
Five new Corporators were elected, as follows: Robert A. Casassa, Deborah A. Driscoll, Thomas G. Ferrini, Russell B. Grazier, Jr., and Ann L. Kendall.
Following the corporate meeting, the Bank’s Board of Trustees convened for its annual meeting at which time the group re-elected Retired Major General Kenneth Clark as Chairman, and Attorney Charles Griffin as Vice Chairman of the Board of Trustees.
Piscataqua Savings Bank is among the highest capitalized banks in the state. The only mutual bank based in Portsmouth today, Piscataqua Savings is dedicated to serving local individuals and families and has been a cornerstone of the Portsmouth community since 1877. Information is available at www.piscataqua.com.