“We have been here for 155 years and look forward to being part of your journey today and tomorrow – together.”
Lesa A. Vanotti
President & Chief
Executive Officer
CEO Message
In 2022, we saw inflation at 40-year highs, rapidly rising interest rates and talk of a potential recession looming in the news daily. We are still waiting to see if we land hard into that recession, or if the Federal Reserve’s intervention and promises of a softer landing ring true. What we do know is that TSB is well capitalized, diversified, and our responsible banking practices provide a cushion to weather this new set of challenges.
With this as a backdrop, our team of bankers worked continuously to deliver you what you need, when you need it. I am proud of their unwavering commitment to be your financial partner and it is part of our mission to help you achieve your goals.
We introduced credit cards early in the year, expanding our personal & business suite of products. Additionally, two new checking products were created to better support our customers’ needs. Our Journey Checking & Savings accounts are designed to grow with you through all your life stages, and our BankRight Checking is our latest, safe and affordable account certified by the CFE Fund as an official Bank On National Account*.
As more of you are relying on online banking, we updated our platform with the introduction of the “Maverick” online banking experience. This enhanced platform was built with a more intuitive and user-friendly experience in mind. If you haven’t registered for online banking, I encourage you to give it a try and see how easy your banking can be.
Our Commercial and Residential Lending teams continue to help both families and businesses reach their dreams of home ownership and entrepreneurship. In 2022, we provided mortgages to 148 individuals and families purchasing a home and helped another 262 access the value in their current home through home equity loan products. Additionally, we provided financing to 39 businesses throughout the State in support of economic growth and expansion in several industries.
2022 was also a year of celebrations, marking 1 year since the opening our Bristol branch and supporting that market. We humbly accepted the “Best Bank” distinction by the Waterbury Republican-American newspaper, for the 4th consecutive year; an honor we are especially proud of as it is voted on by our customers and community members.
Looking ahead to 2023, we are continuing our path to offer best-in-class digital products and services and remain competitive with our rates regardless of the environment. We aspire to be your financial partner of choice. We have been here for 155 years and look forward to being part of your journey today and tomorrow – together.
Amidst the uncertain economic landscape we reaffirm our commitment to you – our customer, our neighbor, and our community partner.
Thank you for choosing TSB.
Lesa A. Vanotti
President & Chief
Executive Officer
*For more information about Bank On visit www.cfefund.org/bankon
Corporate & Community Highlights
155 years serving the Northwest Corner and expanding in CT
Upgraded platform making it simpler, faster to manage your finances
Grants awarded towards education & neighborhood revitalization efforts
$23,000 Scholarships Awarded
Donated to local non-profit organizations
Volunteer hours put into the communities we serve
Voted 4 consecutive years by our customers and readers of the Republican-American
Loans funded for families/individuals for home purchases
Helped 262 individuals/families access the equity in their homes
Leadership
TSB Team
Jennifer L. Marchand
Executive Vice President, Treasurer, CFO & Assistant Secretary
Bryan Cassidy
Senior Vice President, Chief Information Officer & Information Security Officer