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Financial Statement (2006) * Letter From Our Chairman * Statement of Condition * Officers and Directors  Letter From Our Chairman  TO OUR GOOD FRIENDS,Despite the media's annual predictions of recession, our national and local economics continue to perform at record levels with unemployment at historic lows. If there has been any slowdown, it has occurred in and continues to hamper the residential real estate industry. This "correction", however, was long overdue as 20% per year home price inflation was clearly unsustainable. Jefferson Bank enjoyed another record year with earnings up 12% while assets increased 4%. With many newly chartered banks offering overly generous credit programs in an attempt to gain market share, St. Louis remains a "borrowers' market". The resulting and advantageous credit facilities available to St. Louis business and borrowers in general have helped ensure that our local economy remains sound. Downtown is experiencing a resurgence and the county continues to grow. While the improvements to Highway 40 will cause some inconvenience, the construction alone will pump more than $500 million into the local economy. For all these reasons, we look forward to the new year and continuing interest rate stability. We are anxious to serve all your credit needs and we are as close as the phone – and a real person will answer.
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Copyright © 2007 Jefferson Bank and Trust . Member FDIC. Equal Housing Lender  |
