President’s Message 2025
To The Members of Winter Hill Bank, FSB:
Looking Back at 2024
As we look back on the past year, I am extremely proud to share with you the accomplishments and resilience of Winter Hill Bank. We navigated through 2024 with fluctuating high interest rates, accompanied by inflationary pressures, credit uncertainty and ultimately, the economic volatility that challenged growth and placed pressure on earnings. Despite this rapidly changing economic and financial landscape, I am pleased to announce that equity of the bank increased to approximately $41M or 9.40% to total assets, which exceeds all regulatory requirements and qualifies WHB as a “Well Capitalized” bank. Throughout the year, we remained committed to providing top-tier, affordable, structured products, offering the best retail and loan rates available. We consistently delivered hands on, exceptional service to our customers without exception and unwaveringly supported our communities in various ways.
Looking Towards 2025 and Beyond
Operational: Exciting times are ahead for 2025 and beyond including: Digital Transformation-that will require investments in various digital platforms, mobile banking apps, and online services to meet the growing demand for convenient, 24/7 access to financial services. Artificial Intelligence (AI) will take center stage as it continues to revolutionize all industries including the banking sector. Regulatory Oversight: Regulatory oversight will continue with new or changing compliance requirements that may impact Operations, Cybersecurity and Credit Risk all of which will remain at the top of the bank’s list. Lending: We will continue to utilize sound banking practices and will leverage the lending expertise of the bank’s management team and focus on continued growth in the areas of Residential and Commercial Real Estate Lending. These practices are necessary in order to maintain the highest quality of loan assets in the loan portfolio; therefore, prudent underwriting practices will remain in place. Retail and Commercial Savings: We will stand behind our basic core principles by meeting the emerging needs of the communities and our customer base which we serve by offering the highest quality, affordable products and savings options that will suit everyone’s needs. Technology: We will continue to invest in technology that will provide an enhanced customer experience as we all move forward to more digitalization of the bank’s products. As we look towards 2025. The path will be set by executing and implementing our Strategic Plan, this plan will help set clear the long-term vision, goals and objectives that will chart the course for the bank in 2025.
Winter Hill Bank is better prepared than ever to make a difference in the community as people working with people guided by a common goal. We move forward as proud stewards of our nearly 119-year-old legacy and as bold creators of a future in which anything is possible.
In closing, I am reminded that although technology is the metal that makes our chain strong enough to endure our daily challenges, it is our people who bond it all together. I want to thank our Board of Directors and Officers for their contributions to the Bank’s success; our staff for their dedication and team spirit; and of course, our customers for the honor and opportunity to serve them.
Respectfully submitted,
Sandra L. McGoldrick
Sandra L. McGoldrick
President/CEO