Quarter 2 is providing optimism as one can view sustained growth for small businesses, and refinance rates continue to be competitive in the banking world!
President of 1st National Bank of Dennison, Nichole Zesinger updated the community about Quarter 2 of 2021. COVID-19 cleaning and precautions are still being practiced in banks and customers should follow social distancing and mask-wearing but the bank is working at full capacity again.
Quarter 2 Highlights
- The bank ended with a $1.7 MM net income
- Recognized on the Bauer Financial 5 Star rating list
- Return on Equity (ROE) 10% & Return on Assets (ROA) 1%
- 19% increase in assets since last year
Payroll Protection Program (PPP)
1st National Bank of Dennison was able to:
- Help 210 businesses to receive federal funding for PPP round 1
- Lent $13,500,000 for round 1
- Round 2 PPP is on track to exceed the first round
Optimism- Updating Technology
Coming soon to 1st National Dennison Bank
- Document imaging
- Electronic documents
- Electronic signatures
- Italk (automated 24/7 phone line)
- Paperless Options
- Faster turnaround on audits and exams
Nichole Zesinger stated, “We certainly are a sound bank with significant liquidity, sound loan loss provision, low delinquency, healthy investment portfolio, and nice net income.” Quarter 2 is providing optimism and security throughout the community.