New Branch Now Open!
The Delaware National Bank of Delhi is proud to announce that its new branch at the intersection of Prosser Hollow Road and State Route 23 at Pindars Corners, Davenport, New York is now open. The full-service branch features three drive-up lanes, a night depository, and a 24-hour ATM.
Statement from the President & CEO, September 30, 2008:
To Our Community,
The events over the past few weeks have many of you asking questions. Unfortunately, banks in general have been painted with a broad brush. The Wall Street Banks that created the current economic situation are not Community Banks. We want to assure you that “we” are not “them”.
Since 1839, we have been guided by safe and sound banking practices. We have never made a sub-prime mortgage, nor do we have such loans in our portfolio. Further, we have never sold a mortgage to another institution. The quality loans and deposits on our balance sheet come directly from our local community.
We can assure you that we are financially secure. We continue to grow our deposits, and are actively meeting the borrowing needs of our local individuals, businesses, and municipalities.
Sincerely,
Robert W. Armstrong
President & CEO
New Year, New Banking Concerns, But Not if You
Bank at The Delaware National Bank of
January 2009: The Delaware National
Bank of Delhi, New York
proudly announces it has earned
BauerFinancial,
Inc.’s
highest 5-Star
“This New Year in particular brings with it a
whole new set of worries, but where a consumer banks shouldn’t be
one of them”, remarks Karen L. Dorway, president of
BauerFinancial. “Some banks ignored proper loan underwriting
standards in recent years and are now paying the price for that
decision. But, The Delaware National
Bank of Delhi is a prime example of a bank that has stuck to
traditional, conservative banking strategies, which, in this
climate, is exactly what the ‘other banks’ are returning to.
The Delaware National Bank of
Established in 1839,
The Delaware National Bank of
The Delaware National Bank of
BauerFinancial, Inc.,
The following letter was mailed to
all Delhi Bank Corp. Shareholders
on January 23, 2008:
Dear Shareholder:
The “Sub-prime mortgage crisis” continues to be written about in the papers and talked about on various newscasts. Simply put, this situation has resulted from banks and mortgage brokers that wrote and sold mortgages which were not underwritten with sound lending practices. Little or no concern was given to the ability of borrowers to repay these loans. Often, the size of the mortgages greatly exceeded the value of the collateral being offered. Why would financial institutions engage in such a risky business? The answer is the age old, time repeating motive called “Greed”. Now, we sit back and watch as the other age old, time repeating market mover called “Fear” takes over.
Too often over the past few years I have heard
in numerous circles how consumers could get better terms on a
mortgage at a larger bank than at The Delaware National Bank of
Delhi. Some lending institutions were offering rates and terms that
a community bank of our size could not even come close to matching.
Community banks in general soon became the butt of many unflattering
comments about how they were overpricing their products in an
attempt to fill their coffers. In reality, the Delaware National
Bank of
-
Asset Quality.
The bank’s assets continue to perform well and are comprised of
loans and investments that are rooted in conservative policies
and philosophies. We look to grow our balance sheet to produce
more earnings but never to do it in a way that introduces an
unacceptable level of risk.
As I noted in my 2006 report to stockholders, we do not make sub-prime loans and we have no such loans in our portfolio.
I encourage you to review the enclosed un-audited statement of results for the fourth quarter and fiscal year 2007. Shares of Delhi Bank Corp. performed well in 2007, with a 17.2% gain in price for the year. Please compare this performance with that of the institutions known to have participated in the “sub-prime” fiasco and take comfort in the fact that we will continue to operate under the same guiding principles and set of core values that have kept us safe and profitable since 1839.
Sincerely,
Robert W. Armstrong
President & CEO
