Letter from the President
Northwest Community Bank’s roots date back to the 1860’s and fast forwarding over 150 years, I’m pleased to report that we continue to thrive with strong profitability and remain committed to our founding fathers’ philosophy of being a pillar in the communities we serve.
Northwest Community Bank remains amongst the strongest banks in the State of Connecticut. We continue to receive Bauer’s top rating of 5 for financial institutions as our capital levels and credit quality remains extremely strong and ahead of our peers. Our asset size recently topped $350 Million while our capital has increased to $42 Million, providing more than double the level of capital required to obtain the highest capital ranking of “well capitalized” by the FDIC.
Our employees and directors remain intimately involved in our communities by donating their time to serve in various capacities for numerous non-profit organizations that have positive impacts on our communities. In addition, we continue to fulfill our commitment to our communities by donating on average 10% of our profits back to the community. An impressive amount of contributions exceeding $1.5 Million have been made over the past 15 years…an area where we play a proud and important role in the communities we serve for over 150 years strong!
And none of this would be possible were it not for the support of our loyal customer base. Yes, it’s the money that you deposit and the loans that you borrow from us that enable us to make these significant donations to the non-profits throughout our communities. Your business is also the vehicle that spurs economic growth in the local community by creating jobs at our bank that are filled by your neighbors. By banking locally with us, you can rest assured that you are having a strong and direct impact on your local community.
As the leader of this organization, I am very proud of the work of our team and their unwavering commitment to our organization and the communities we serve. I am confident that our founding fathers would be proud of the fact that we have never lost sight of their goal in the formation of our bank, which was to create a financial organization that would partner with the members of our community to provide them with a means to achieve a safe and secure financial future.
I thank our customers, directors, advisory board members, officers and staff for supporting our mission as a community bank by remembering our roots of providing exceptional products and services to our customers, and being an integral part of the communities we serve.
Stephen P. Reilly
President & CEO