Hard to believe it’s been about two years since the subprime lending issue first emerged. As we all know, during that time, there has been a great deal of turmoil in the financial services sector and the economy in general. Throughout, we’ve tried to keep you updated on issues that may have been on your mind.
As you’re aware, The Bank of Castile did not participate in subprime lending and the bank has remained strong and well capitalized. Despite the reported “credit crunch,” The Bank of Castile has continued to be very active in our communities with loans for home mortgages and small and mid-sized businesses, and our credit quality remains strong.
I’m pleased to share some exciting news with you about recent recognition for our parent company Tompkins Financial.
According to The Staton Institute, Tompkins Financial now holds the second longest record of consecutive growth in legitimate earnings per share among all U.S. public companies - our record of 36 consecutive years of earnings growth is second only to Walmart.
And for the second straight year, Sandler O’Neill & Partners has named Tompkins Financial to its Sm-All Stars list of the top performing publicly-traded small-cap banks and thrifts in the nation.
The strength of our company and this kind of recognition would not be possible without you, our clients. I’d like to take this opportunity to thank you for your business and your confidence in The Bank of Castile.
James W. Fulmer
President of The Bank of Castile