STRONGER THAN EVER, FULLY COMMITTED,
AND MOVING FORWARD

Elizabethton Federal Savings Bank turned in another stellar performance at year end 2007. Founded May 1937 the bank celebrated its 70th year in business stronger than ever. “In fact we have never been in a stronger financial position than we are today despite the fluctuating interest rates of 2007, and the national economic negative concerns,” according to Shirley Hughes, President/CEO.

Free from the loan asset quality concerns of too many of the nation’s largest financial and equity institutions, Elizabethton Federal completed year-end 2007 with record levels in several pertinent categories. With return on average assets of 1.210% and return on equity at 5.04%, the equity ratio for Elizabethton Federal stood at an all time high of 24.46% at the end of 2007. In fact, the institution holds the highest equity ratio of any mutual savings institution in the State of Tennessee. The capital ratio again places Elizabethton Federal Savings Bank in the top five savings institutions nationwide in regard to capital adequacy. Additionally, Elizabethton Federal again received the prestigious five-star award for safety and soundness.

Total assets, net mortgage loans outstanding, consumer loans outstanding, deposits and deposit interest rates all showed considerable increase at year-end 2007. Elizabethton Federal was able to pay depositors $10,182,556 in interest during 2007, an increase of $1,510,478 over the amount paid the previous year.

“We are stronger than ever, fully committed to our customers and moving forward in 2008.”

Shirley G. Hughes, President/CEO
Elizabethton Federal Savings Bank

All rights reserved. ©2006 Elizabethton Federal Savings Bank
112-114 N. Sycamore Street, Elizabethton, TN

Home | Services | Financial | Locations | Contact Us | Security | Online Banking | Privacy Policy

Powered by Star Technology Group