Fairfield County Bank held its 150th Annual Meeting at the Silver Spring County Club. The attendees included the Board of Directors, The Board of Incorporators, and the Senior Management of the Bank. The Annual Meeting is held to inform the Incorporators on the financial well-being of the Bank, success and growth over the past year and strategic plans of the coming year.
The Annual Meeting was opened with remarks from Ralph L. DePanfilis, Chairman of the Board, welcoming the attendees. David A. Schneider, CEO, and Daniel L. Berta, President, presented on the financials of the Bank, the product and service offering, innovation across the organization, and Community engagement. Presentation highlights included a review of the strong financial position of the Bank through 2020 from Mr. Schneider.
Mr. Berta touched on several topics, including the Bank’s commitment to Fairfield County throughout the COVID-19 Pandemic. Fairfield County Bank processed 100% of the 1,850 Paycheck Protection Program (PPP) loans that were requested of the Bank. The $240 million in PPP loans, in turn, supported 20,000 local jobs throughout the pandemic.
President Daniel Berta highlighted key facets of what makes Fairfield County Bank, and how those core values were upheld during 2020. During his discussion, Mr. Berta also brought one of the Bank’s clients into the spotlight, Astacio Plumbing and Heating, whose owner, Richard Astacio, has been banking with Fairfield County Bank since 2014.
Richard, in his client spotlight video, focused on the ways in which the personal relationship he developed with Lisa Bancroft helped him expand his growing business. Astacio Plumbing and Heating was also one of the local businesses that received a PPP loan through the Bank.
Mr. Berta announced that the Bank donated $10,000 to SPHERE on behalf of the corporators. SPHERE of CT helps adults with developmental disabilities achieve their dreams. SPHERE’s programs improve quality of life by providing rich experiences and a strong community, which the Bank is proud to support.