A Message From The President
If you have been following the financial news, you are certainly aware the stock market has been dropping. Bear Stearns, an investment bank, was purchased by JP Morgan Chase and the Federal Reserve has again dropped the interest rate for banks to borrow by 1/4%. You also continue to hear about the dramatic rise in home foreclosures across the country. Reading all these headlines could certainly cause you to lose confidence in your bank. We want to help ease some of your fears. We want you to know Tioga State Bank has again earned the five star rating by Bauer Financial, an independent bank rating firm, which means we have achieved this rating 64 consecutive quarters. This is an accomplishment we share with only 10% of the nation's banks. This five star rating is the highest rating given by Bauer and only given to the most financially sound banks in the country. If you bank with Tioga State Bank, you can be assured we have and will continue to follow our prudent lending practices. We are continuing to make loans to individuals and businesses. We continue to offer some of the finest deposit products in the areas we serve. We know sound, local decision making is important to you. We pride ourselves in being a community bank you can trust. That is why we continue to offer the best deposit and loan products possible while still honoring our responsibilities to each deposit and loan customer. We want you to know that many of the hardships being experienced by other parts of our country are not happening in the Southern Tier of New York State. Our local economy remains stable, we do see job growth by many area businesses, and home values have continued to appreciate in our area. We thank you for banking with us. We look forward to continuing to build a banking relationship with you.
Sincerely, © 2005 Tioga State Bank | All rights reserved | Member FDIC |
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Equal Housing Lender |