Sandra L. McGoldrick
President/CEO

To The Members of Winter Hill Bank, FSB:
I am pleased to report that Winter Hill Bank, FSB achieved growth and solid financial results in 2009 in spite of a year that was filled with uncertainty and challenges for the banking industry and the U.S. economy. We witnessed an economy that was on the brink of failure and was in need of revitalization from the government as the economy struggled to gain its footing. At Winter Hill Bank, we confronted the uncertainty and challenges on all fronts while remaining true to our vision and our purpose of a financially strong, mutual “Community Bank”.

From the beginning of the financial crisis of more than a year and a half ago, the Winter Hill Bank continued to perform well. Guided by an innovative strategic plan, we held steadfast to our commitment of our core mission of providing solid financial savings and loan products that are suitable to our customers. The bank continued to follow the traditional, conservative and sensible approach when making a loan of any type. Winter Hill Bank’s financial strength is built on a sound business strategy of conservative banking.

Our focus is on our core business of offering convenient products and services to our customers while adhering to prudent lending practices and underwriting. Our emphasis is credit quality over risky loans and unrealistic yields and this strategy has proven correct as the quality of the assets of the bank as well as the equity continues to remain strong.

We are pleased to report to you that the bank’s regulatory capital ratio exceeds the regulatory requirements and is considered “Well Capitalized” and this is certainly an indication of the strong financial condition of the bank. The excess in capital and other loan loss reserves will continue to provide the necessary protection for any future unpredictability.

As we embark on our 104th year in business I want to assure you that Winter Hill Bank will continue to stand strong and we will stay the course of our conservative philosophy of banking that has proven to be on target with the goals and objectives of the bank’s foundation to growth and success. Also, we will preserve the bank’s commitment to providing financial services of the highest quality and value to our depositors and borrowers as we maintain our role as the Community Bank of the areas that we serve.

We have now set the course for 2010 and beyond by executing our plan to make Winter Hill Bank, FSB a financial institution of which our customers can be proud. Our dedicated staff, management team and the outstanding Board of Directors have combined forces to make this a financially sound Bank. In closing, I want to express my sincerest appreciation for the support of the Board of Directors and a thank-you to the Officers and Employees for their dedication and hard work. Also, to our many customers, friends and future customers we look forward to building a banking relationship with you and serve you in all of your banking needs.

103 Years of Financial Strength and Stability. To read the full letter, CLICK HERE.