Page 4 - Winter Hill Bank Annual Report 2020
P. 4

      • Management has an optimistic view of 2021 and we realize no business
        continues to be successful without adapting to changes or challenges that
        are presented. We can’t and won’t stand still.  The following are some of
        our forecasting, plans and goals for 2021.
      • We expect mortgage rates for the first half of the year to hover around
        the same low interest rate environment similar to the close of 2020.
        Potentially a slight rate increase may occur later in the year.
      • We expect the real estate market in the bank’s lending area to remain
        strong as consumers continue to take advantage of the historic low
        lending interest rate environment.    Management is forecasting another
        successful year in lending of all types.
      • We expect the bank’s asset quality to remain strong and we expect to
        surpass all regulatory capital requirements and capital will also remain strong.
      • We will review our Strategic Plan and determine changes that may be
        needed.  Strategic planning post COVID may look entirely different than
        in past plans.
      • All of the bank’s policies and procedures that provide a roadmap for the
        day-to day operations will be updated to ensure they reflect the most up-
        to-date regulatory standards thereby, providing Management with the
        guidance for informed decision making.
      • Considerable time and effort will be spent on providing new technological
        enhancements for our customers. These features will include an advance
        notification system that will notify customers of any unusual transactions
        that may occur on their accounts.  As always the choice is the customers’
        and they can choose the level of notification that suits their lifestyle.
      • Management will consider any new opportunities to improve the financial
        stability of the bank without taking any undue risk.
      • WHB will remain a 5-star bank and will continue to be a major contributor
        to the areas we serve.

      At this time, I would like to thank the Board of Directors for their continued
      support and insight which are the attributes necessary for the ongoing
      success of any organization.  This year a special thanks should be given to
      those who contributed to the success that has been achieved.  I can say
      without hesitation the accomplishments of 2020 could not have been
      achieved without the hard work of the management team and entire staff of
      the bank.
                                                         Respectfully submitted,
                                                          Sandra L. McGoldrick

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