A message to our Investors
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
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