I had to smile when I recently came across the poem “Why I Can’t Leave Vermont”, whose author is unknown.
Here’s an excerpt:
Yes, the weather here is
So I guess I’ll hang around.
I could never leave Vermont
Cause I’m frozen to the ground.
As we close the books on 2017, I want to express my gratitude to the exceptional team here at the bank whose work contributed to our positive financial results. We are pleased with the growth we have achieved, both in the loan portfolio and in deposits. The opening of a loan production office in Burlington has enhanced our presence in that market and enabled our lenders to better meet the needs of their clients in a convenient and professional space. We are encouraged by the growth in our commercial loan portfolio as it signals improvement in the local economy.
Our ability to grow deposits helps to reduce our reliance on borrowings and wholesale funding, while putting our customers’ deposits to work right back out in the community.
We’re pleased to have held the increase in our non-interest expenses year over year to only .12%. We continue to employ the disciplines we learned in leaner times and closely manage what we can. Our positive results for 2017 are directly related to “sticking to our knitting” and staying true to the fundamentals of community banking.
We are optimistic about the opportunities for our bank in 2018. We will work to serve our customers, earn the business of new ones and contribute to the health and vitality of the communities where we live and do business.
I’m thankful for the opportunity to serve this bank, our communities and you. I enjoy hearing from our customers and community members, so please feel free to give me a call or stop by for a visit. It would be my pleasure to meet you.