financial tip friday 2nd quarter

Quarter 2 is Providing Optimism

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!

Financial Tip Friday is brought to you in partnership with the 1st National Bank of Dennison

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

Quarter 2 providing Optimism

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.

Questions regarding your finances or technology regarding money?  Contact your local banker and they will be able to discuss different savings, investments, and checking options.

Financial Tip Friday

 

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