Safety & Soundness - President's Message to Investors and Depositors

June, 2012
A message to our Investors and Depositors,

Recent news reports of unstable stock markets, failing financial institutions and a worsening housing crisis are troubling to us all. People are beginning to question the security of their own financial partners and we see a growing sense of fear that nothing is safe. That is precisely the reason why I wanted to take this opportunity to assure you that Quinnipiac Bank & Trust Company is a safe, sound and secure place to put your money. Your investment is safe, your deposits are FDIC Insured and our loan portfolio remains free. We never participated in sub-prime mortgages or invested in Fannie Mae or Freddie Mac. Our investment portfolio consists of all government funds backed by the full faith of the US Government.

With regard to our financial strength, our total deposits have grown to $76.2 million and our total assets are $86.7 million as of June 2012. Our total equity capital as of March 31 was $9.023 million for a capital ratio of over 13.63% of assets. We are very pleased with these results and would hope that you feel the same. They represent a well-run and financially sound banking institution.

With regard to the lending side of the Bank and our loan portfolio, let me assure you that “we have money to lend” to qualified credit worthy customers. We have not closed our doors to lending like many of our competitors. Our intentions are to grow our commercial and consumer loan base with prudent lending to strong, sound borrowers in search of a Bank that listens and wants to build a long-term relationship with their customers. By the way, such a borrower does exist!

We will, of course, continue to do what we have always done; remain conservative, cautious and exercise good underwriting judgment.

In a nutshell, by banking standards, our capital base is very healthy, our deposits continue to grow and our asset quality is truly exceptional. What a terrific position to be in with all that is going on around us.

I urge you to take as much comfort in this as I do. It is something to be proud of and not something that our Board or Senior Management takes lightly. We work very hard, even at this youthful stage of our Bank to produce results like this.

In closing, I want to again assure you that we are a sound Bank and you can rest assured we are watching out for your deposits and your investment in our Bank.

I would be remiss, if after stating all of the above, I didn’t ask that you become a customer of ours. You will be pleased that you did so, that is if you still appreciate being referred to by name, getting a smile and receiving exceptional personal service. After all, we are “Small Enough to Care and Big Enough to Deliver.”

Mark A Candido
President & CEO