12/14/09
FOR IMMEDIATE RELEASE
CONTACT Jane Long
(336) 599-2137
jlong@roxborosavings.com
ROXBORO SAVINGS BANK GAINS DEPOSITS
Jane Long, Executive Vice President and CEO of Roxboro Savings Bank, SSB announced today that Roxboro Savings Bank’s deposits grew during the period from July 1, 2008 through June 30, 2009 by more than $13,347,000. Total deposits held by Roxboro Savings Bank now account for nearly 31% of deposits in FDIC insured financial institutions in Person County, ranking Roxboro Savings as the deposit market share leader in Person County. While total deposits in the entire county grew during the same period only nominally by about $216,000, or a minuscule 0.05%, Roxboro Savings Bank’s deposits grew at a rate of about 11.1%. Long attributed this growth to the continued confidence shown by Person County depositors in Roxboro Savings Bank, a state-chartered mutual savings bank which was founded in 1923. Long stated that, while times have been difficult in the economy and many people have suffered job losses, she is appreciative of the work of the staff at Roxboro Savings Bank which has worked diligently in trying to help the bank’s customers through these difficult times.
Under recently enacted legislation, all depositors are insured by the FDIC for up to $250,000 through at least December 31, 2013. Roxboro Savings Bank customers are served by the Bank’s two local locations at 313 South Main Street, Roxboro and 5420 Durham Road, Timberlake, through the Bank’s network of over 32,000 ATM’s nationwide and by its free on-line banking services, including on-line bill pay. Roxboro Savings Bank, SSB is the only locally operated financial institution in Person County and is proud to serve the banking needs of its customers in Person and surrounding counties.
Long also commented that, while the FDIC does not publish similar figures for loans generated, she is proud to report that Roxboro Savings Bank continues to loan money to qualified borrowers in the markets it serves and has never stopped loaning money to individuals and small businesses. Roxboro Savings Bank is a full service financial institution that is eager to assist local residents and business owners with their financing needs with a wide array of loan products fitting just about any need.
Long concluded that she looks forward to the continued growth of Roxboro Savings Bank which will be celebrating its 87th anniversary in 2010 and invites prospective customers to stop by either location to learn the real meaning of the bank’s catch phrase “Come Closer to Home.”
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By Jane Long, Executive Vice President and CEO of Roxboro Savings Bank
posted by Jane Long, Executive Vice President and CEO of Roxboro Savings Bank
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