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| Walden Savings Bank |
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Overview:
Established in 1872, Walden Savings Bank is a federal chartered mutual savings bank headquartered in Montgomery, New York. The Bank opened the Corporate Headquarters office, located at Crossroads Corporate Park, at the intersection of Route 17K and Route 208 in the Town of Montgomery, on August 15, 2002. All administrative functions have been consolidated, along with a full service branch office.
In addition to its headquarters, the bank maintains 11 full service branches in southeastern New York (Walden, Washingtonville, Montgomery, Cornwall-on-Hudson, Pine Bush, New Windsor, Gardiner, Scotts Corners, Circleville, Middlehope and Florida). With the exception of the Gardiner branch, which is located in Ulster County, all of the banks branches are located in Orange County. For lending purposes, the Bank's primary market area covers Orange County, and extends into parts of Ulster and Sullivan Counties, which border Orange.
Walden Savings Bank is a member of the Federal Home Loan Bank (FHLB) system and its deposits are insured up to the regulatory maximums by the Bank Insurance Fund (BIF) of the Federal Deposit Insurance Corporation. As of September 30, 2010, Walden Savings Bank had $395,998,262 in assets, $351,357,924 in deposits and total equity of $32.6 million or 8.25% of total assets. Walden Savings Bank is a community-oriented thrift, with a primary strategic objective of meeting the borrowing and deposit needs of its local customer base. Historically, the bank's operating strategy has been reflective of a traditional thrift in which 1-4 family residential mortgage loans and retail deposits constitute the principal components of the Bank's assets and liabilities, respectively. Lending diversification by the Bank includes construction, multi-family, vacant land, commercial real estate, consumer loans and commercial business loans.
Active management coupled with progressive thinking, ensures that the Bank's customers can avail themselves of the latest technology, products, and services. |
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