Message from Our President

Rosemary Picard President and Chief Executive Officer of Savers Bank

As I reflect on the past year at Savers Bank, I'm not only proud of what we’ve accomplished but also excited about what lies ahead. Our focus remains on delivering the highest level of service to our customers, fostering innovation, and continuously improving to meet the evolving needs of the communities we serve. 

2024 has been a year of growth and progress. We’ve made great strides in enhancing both our physical branches and digital platforms, giving you more ways to bank how and when you want. Whether through a newly renovated branch in Charlton or the convenience of mobile banking, we’re committed to providing you with services that are both modern and reliable. 

This year, we also welcomed new leaders who bring fresh ideas, expertise, and a deep passion for community banking. Their leadership is driving us toward even greater success, and we’re excited to see the positive impact they’ll continue to make in the coming years. 

Our financial strength remains a cornerstone of our success. Total assets grew by $52.2 million, or 7.27%, reaching $770 million, exceeding our target by $18.6 million. Our leverage capital ratio remains strong at 11.17%, well above regulatory minimums, and our adjusted return on assets of 0.39% surpassed our target. Net income continues to exceed expectations, driven by robust loan growth, with total yearend gross loan originations reaching $135.4 million across all lending areas. Commercial lending saw particularly strong momentum, with $102.2 million in growth, while residential and consumer loans totaled $33.1 million. Looking ahead, a strong loan pipeline positions us for continued success in 2025, and anticipated Federal Reserve rate cuts should further enhance our financial performance.

Our dedication to financial literacy has also grown stronger. Through partnerships with local schools, libraries, businesses and our social media platforms, we’ve reached thousands of individuals with valuable resources that help them manage their finances more effectively. We’re excited to see these efforts take root in our community, empowering individuals of all ages to build strong financial habits and secure a brighter financial future. As we look ahead, we’re focusing on the future of banking. In 2025, we’ll be launching a new website that will be designed to enhance your online experience making it easier to navigate, explore our products, and manage your finances seamlessly. It’s just one of the many ways we’re striving to improve your experience with us. And it’s not just about technology - it’s about offering a personalized, secure, and seamless service that meets your needs, no matter where you are or how you choose to bank. 

Savers Bank is more than just a financial institution - we’re your partner for every milestone in your life. Whether you’re buying a home, growing your business, or saving for the future, we’re here to support you. Together, we’re shaping the future of banking for our community, one step at a time. We’re excited for what’s next and look forward to serving you for many more years to come.