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Financial Statement (2007) * Letter From Our Chairman * Statement of Condition * Officers and Directors  Letter From Our Chairman  TO OUR GOOD FRIENDS,During the year just ended the bank enjoyed 6.9% asset growth to $860,076,021, but earnings declined 9.5% to $8,015,328. An ever tightening net interest margin and the need for increased provisions for loan losses and distressed real estate assets has impacted the bottom line for Jefferson as well as all banks. The recession which had been forecast for the last 18 months began to show its potential as the year 2007 ended. The effects of the housing boom/bust will be felt throughout the year and it is for that reason that the economy will provide significant challenges to the entire financial sector. Despite the economic downturn, St. Louis remains a "borrowers' market" and with interest rates moving down rapidly this may be a good time to take advantage of business opportunities which wouldn't ordinarily exist. Jefferson Bank stands ready to assist in every way.
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Copyright © 2007 Jefferson Bank and Trust . Member FDIC. Equal Housing Lender  |
