The PSB Trust Blog

We are starting the 2^nd quarter of 2011, and although there appears to be  light at the end of the tunnel, our message is one of cautious optimism.  From our perspective we continue to advise business customers and families to stay cautious in managing their fiscal resources and to expect 18 to 24 months of continued difficulty in the economy.  The optimism comes from the perception that our community has an opportunity to build an insulating shield, which will help offset the ongoing weakness in the economy.

Our small business (the bank) started preparing to engage the economic challenge in the summer of 2007.  Our concerns were realized with the economic crisis in the fall of 2008.  The last several years have been challenging to navigate and difficult for the bank, our business customers, and many of our families.  We are proud of the fact that we continue to manage these difficult economic times, always remembering we serve people and not account numbers.

 We have seen several businesses succumb, but many more continue to work vigorously every day to  keep their doors open and improve their business model.  We have seen some families struggle to keep their homes and have worked with them to help navigate the difficult process.  We have also seen families strengthened by taking proactive steps to revive their financial health.

 I have made the point several times that as a community bank, our business health is directly connected to the health of the businesses and families we serve.  We have worked extremely hard the last several years to manage through the dangerous waters while not forgetting the important role we play in the community.  We are prepared to persevere and turn the corner in the coming year.  In retrospect, we are extremely grateful to have started preparing for the ensuing storm in 2007.  We are also grateful for the support and commitment of our business customers and families to work diligently to strengthen not only themselves, but our community.

 We have been actively working with many parties who believe in our community enough to invest their future within our community.  You can expect to hear from some of these parties in the months ahead.  When you see a business invest in our community, reach out to shake their hand and thank them for their commitment.  If you run into a new family at school, church, on the ball field, or in the store, please welcome them and thank them for joining our community. 

 We have endured, and will walk towards new prosperity. As always, I am available on my direct line at 686-5223 or on my mobile phone at 433-4055.

Tony L. Perry