2020 has been an exciting and challenging year! Our team has worked all year to rise above and meet the unique challenge that Covid-19 presented us. Not surprisingly, we saw increased use of our digital banking services such as Zelle, Bill Pay, and our Mobile App. People also took advantage of our highly competitive loan rates with more than 360 real estate loans allowing people to refinance for a lower rate, use equity to improve their homes, or move into their forever home. We also provided our local small businesses more than 100 loans to help their businesses make it through these challenging times. We also appreciate that our customers continue to show faith in us with their growing deposit accounts.
The most exciting news of 2020 is our planned acquisition of Wenona State Bank! This allows us to expand our offerings to include agricultural lending and provide the current and future customers of Wenona State Bank with highly competitive fixed rate home loans. We expect this transition to be finalized in the 1st quarter of 2021. As always, it is a privilege to lead this great organization into the future and I look forward to what 2021 has to offer!
John F. McCormick
President & CEO