ESB Reports Solid 2014; Assets Now Exceed $1 Billion

EASTHAMPTON — At Easthampton Savings Bank’s recent quarterly meeting, President and CEO Matthew Sosik reported that the bank’s total assets surpassed $1 billion at the end of 2014.

Also, Bozena Dabek, senior vice president and CFO, reported that the bank’s assets were up $37 million from a year ago, an increase of 3.7%. “Easthampton Savings Bank continues to be one of the most highly capitalized banks in the area, with a capital ratio of 12.9%,” she added.

Dabek noted that total loans increased $47 million over the last quarter and now stand at just over $773 million, and that the bank’s deposit growth was more than $40 million, or 5% from a year ago. Deposits were up $18 million for the quarter, and total deposits are now $869 million, she added.

Said Sosik, “2014 was another in a long line of profitable and successful years for the bank. We met and exceeded all of our goals for asset growth and earnings, as well as our goals for charitable giving within the communities we serve. Overall, 2014 was just a great year and was the result of a lot of hard work and dedication from our board and staff.”