A Letter to our Customers and Shareholders:
Mike Briggs
President & CEO
USNY Bank
I’m pleased to report that USNY Bank successfully completed our recent capital offering. We raised more than $5.6 million to redeem our majority shareholder’s ownership position and provide additional capital to support continued steady growth.
USNY Bank had total assets in excess of $72 million as of July 30, 2010. Both Bank of Cooperstown and Bank of the Finger Lakes have seen continued growth in market share. This continued growth is the result of hard work by our experienced local bank teams, bank directors and community board members.
I want to assure you that we’ve kept a very consistent business plan in place…to take deposits from and make loans to individuals and businesses right here in our local communities.
We are grateful for the positive response we’ve gotten from the public since we opened for business. Your customer referrals have been, and will be, important to the growth of the bank. Please tell your friends and neighbors about us. We’ll work hard to earn their confidence and exceed their customer service expectations.
Thanks again for your support and confidence in the bank. Call us or stop in whenever you have any questions. Please feel free to give us your suggestions so we can better serve our customers, shareholders, and communities.
Best wishes to you and your family.
R. Michael Briggs
