117 years ago, while Theodore Roosevelt was President, before the Model T was invented, years before the Titanic sank and a full decade before The United States entered World War 1, The First State Bank of Dongola was born. Incorporated in 1906, The First State Bank of Dongola has operated under 21 different US Presidents and endured the economic uncertainties of 2 world wars, The Great Depression, the energy crisis of the early 1970s, the high inflation era of the 1970s and early 80’s, the turbulence of the financial industry during the Savings and Loan debacle of the late 1980s, the 2008 financial crisis and housing market crash, and most recently a global pandemic. All though each of these instances were unique in the challenges they presented to our financial system, they each have one thing in common and that is The First State Bank of Dongola has emerged from each of these stronger than ever.
While new challenges for our industry emerge, I assure you that The First State Bank of Dongola is well equipped to endure the uncertain times to come. Holding a noncomplex balance sheet our bank has not engaged in the risky activities of those institutions consuming headline news. In addition, we are considered well capitalized and hold capital ratios far above regulatory requirements. The First State Bank of Dongola is also extremely liquid with a current loan to deposit ratio of 52%. We hold plenty of liquidity and short-term investments to cover any abnormal liquidity event that could arise. We have strong credit risk policies and procedures in place and our management team has over 100 years of combined banking experience.
We would like to thank each one of you, our customers and partners, for your continued trust in us to be your source for financial services. Rest easily knowing we are completely committed to your financial wellbeing because your wellbeing is ours. We are “Old and Reliable.” Thank you again.
Sincerely,
Eric C Needham
President and CEO