Piscataqua Savings Bank Annual Meeting Focused on New Technologies

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Mobile Banking Technologies in Focus at Piscataqua Savings Bank

May 13, 2014 – Portsmouth, NH – Piscataqua Savings Bank recently held its Annual Meeting of the Corporation at Breakfast Hill Golf Club. In attendance were members of the Board of Corporators, members of the Board of Trustees, senior Bank officers and special guest, Christiana Thornton, President of the New Hampshire Bankers Association.

Rick Wallis, President/CEO for the Bank, stated that the Bank relies on management and staff who are instilled with deep institutional and customer knowledge to provide the highest level of customer service. Wallis noted that, “Currently, more than half of the Bank’s thirty-nine employees have worked at Piscataqua Savings for ten years or more. By cultivating and developing the next leadership pool, Piscataqua Savings Bank will continue to serve Seacoast communities as a mutual savings bank for many years to come.”

Members of the audience learned that 2013 was another strong year with respect to Piscataqua Saving Bank’s financial performance. Wallis said, “Piscataqua Savings Bank had a strong year and was able to grow its capital ratio to 17%, an increase from 16.27% the previous year.” The group also learned that the Bank has received several key outside ratings, including being listed by Real Data Corp as the 5th highest volume lender for 2013, out of hundreds of lenders in eight Seacoast towns that make up the Bank’s primary market area. And, according to the Federal Deposit Insurance Corporation Deposit Market Share Report, the Bank is listed as the 2nd largest holder of deposits out of 15 banks with offices in Portsmouth, NH.

Joan Gile, EVP/Operations Officer gave a technology presentation to the audience along with Antone Cabral, AVP/IT Officer. Highlights of the presentation focused on the Bank’s diligence to ensure safety and security on any new technologies delivered to its customers. “We are not early adopters,” said Gile, “we take our time and are very thorough with our staff training so that everyone is involved and knows how it affects our customers. This, we believe, is in keeping with our core values and makes a difference in our customer experience.”

Cabral spoke to the rapidly changing landscape of mobile banking and noted that, “In 2009 there were 1.2 billion transactions nationally using mobile devices. In 2013 there were 14 billion transactions – just four years later.” Cabral went on to say that the Bank wanted to offer a mobile banking product that could be used across diverse platforms so that all customers could take advantage of the array of technology offerings: eStatements, eMobile, and eAlerts. Gile wrapped up the presentation with a glimpse of what the Bank will be offering customers in the near future, including mobile deposit capture or eDeposit, EMV chip cards for added debit card security, online account opening and instant issue debit cards.

Following the technology presentation, the organization re-elected each of its current Trustees: Joseph J. Almeida, Michael J. Asselin, Kenneth R. Clark, Jay S. Gibson, Elisabeth Robinson, Barbara Shea-Smucker, and Richard M. Wallis.

The only mutual bank based in Portsmouth today, Piscataqua Savings Bank 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.

Rick Wallis, President/CEO