(Edwardsville, IL) - Although history will record that 2009 was a year of recession and multiple financial challenges for our nation and banking industry, TheBANK of Edwardsville realized another profitable year. TheBANK also reported its best annual asset growth on record with an increase of $170 million (13.6%).
William S. Alexander, President of the THE BANC ED CORP. holding company and a member of TheBANK of Edwardsville's board of directors, set the tone for the meeting with the message that the institution's growth can be attributed to the safe, sound and substantial reputation TheBANK enjoys in the communities it serves.
"In uncertain economic times, consumers and businesses assume a more conservative stance and are willing to accept safety over risk and yield," said Alexander. "Also, the addition of new banking offices over the past several years has worked in our favor. All of our new locations have been strong providers of core deposits, in particular new checking accounts. We expect this favorable trend to continue as each of these locations continues to grow."
Alexander went on to speak on the external issues that banks are addressing. "The financial industry faced tough economic, social and regulatory issues in 2009-and will most certainly continue to face similar challenges in the coming year. As in 2009 when challenges arose, TheBANK will continue to be committed to facing issues early on, and will continue to be proactive to insure that we will be best prepared to meet any challenges that lie ahead.
"At the same time TheBANK have no intention of losing our competitiveness," added Alexander. "We are proud to introduce innovative new products like Mobile Banking. And we are confident that the level of safety and soundness that we have achieved over the past 142 years will continue to instill confidence in our existing customers and attract new ones to our
In other business, the stockholders elected William S. Alexander, Kay Sharon Cassens, Michael D. Cassens, Robert L. Plummer and Mark S. Shashek to serve as The BANC ED CORP. directors for 2010.
TheBANK of Edwardsville's Board of Directors includes William S. Alexander, Kay Sharon Cassens, Michael D. Cassens, Joseph P. Hassler, Thomas E. Holloway, Donald L. Metzger, Robert L. Plummer, Mark S. Shashek, Charles B. Unger, and Robert A. Wetzel.
TheBANK of Edwardsville, established in 1868, has assets exceeding $1.35 billion. TheBANK has a long tradition of providing personal service, offering the most innovative products and giving back to the communities in which it serves. For more information, please visit www.4thebank.com.