Piscataqua Savings Bank Announces Annual Meeting Results

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Piscataqua Savings Bank Announces Annual Meeting Results

June 7, 2013 – Portsmouth, NH – Piscataqua Savings Bank recently held its Annual Meeting of the Corporation at Breakfast Hill Golf Course. In attendance were members of the Board of Corporators, members of the Board of Trustees and senior Bank officers and President of the New Hampshire Bankers Association (NHBA), Christiana Thornton who was the featured speaker.

Ms. Thornton spoke to the group about current challenges in banking and stated that New Hampshire has not seen the bank failures that other parts of the country have experienced. She said, “There are a growing number of banks moving into the state and a significant number of new banks are moving into the Seacoast. This presents challenges and hyper competition and I encourage each of you to become advocates for Piscataqua Savings and its important, historic role within this community.”

Members of the audience were informed that 2012 was another strong year with respect to Piscataqua Saving Bank’s financial performance. President and CEO, Rick Wallis, said, “Piscataqua Savings Bank had another strong earnings year last year, this combined with controlled growth enabled us to maintain a Capital ratio of 16.27%, an increase from 15.91% the previous year. This is good news since Capital is our foundation and is what allow us to be a vibrant and productive force in the community.”

The Bank also reports a new benchmark has been set with the Trust Department breaking $200 million in assets under management.

In addition to Thornton’s presentation, the organization elected two new Trustees to replace outgoing Trustees Charles Griffin and Vincent Taccetta. Newly elected Trustees are Joseph Almeida and Elisabeth Robinson. Mr. Almeida currently serves as the Chairman of the City of Portsmouth Historic District Commission and works as Project Manager at the Portsmouth Naval Shipyard. He lives with his wife and their two daughters in Portsmouth.

Elisabeth Robinson is a Family Nurse Practitioner with Whole Life Health Care in Newington, NH. She is a certified infant massage instructor, and instructor of neonatal resuscitation and perinatal continuing education. Ms. Robinson is the founder and owner of Pear Tree Herbals and lives with her husband and three children in New Castle, NH.

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.

Rick Wallis, President/CEO