As we start the new year, it’s a time to reflect, review and celebrate. And we had a lot to celebrate in 2018.
While our fiscal year doesn’t end until March, we are on track to surpass our revenue and return on asset targets. Said differently, we are succeeding in our focus on adding value to our client relationships by delivering advice, solutions, speed and ease.
Our success isn’t incidental. We’ve built, and are continually growing, a team of professionals who are passionate about serving our clients and community. We significantly expanded our Residential Lending team with the addition of Jason Sorochinsky as Chief Residential Lending Officer and several new loan officers. We added strength to our branches with new managers and invested in both our commercial banking and government outreach divisions.
I’m exceptionally proud of our current team and proud of The Coop’s commitment to investing in our employees through education and professional development. That includes all levels, from branch employees and senior leadership members, to our Board and the CEO. We don’t just talk about fostering growth, we actively embrace it.
As a community bank, we are here for one reason only and that is you. We are driven to continually evolve, add and modify our products and services to deliver solutions that are right for you. Whether you bank in our branches, on your phone or on your computer, we rolled out products in 2018 designed to make banking easier, faster and more convenient for you. For the small business owner, we’ve made it easier for you to get a cash advance in the event of an accounting error or cash flow shortage. For the commercial customer, we began offering longer term (10 year) fixed rate loans. Our client focus from the commercial team also earned us the distinction as the Small Business Association of Massachusetts Third Party Lender of the Year. And through our new relationship with Allpoint network, we are proud to be the only community bank on Cape Cod that offers access to thousands of ATMs with no fees. And those are just the highlights. Our products, services and digital offerings are on par with any major, national bank.
Lastly, but certainly not least, I want to recognize the bank’s continued commitment to giving back to the communities we serve. In 2018, we launched The Cooperative Bank of Cape Cod Charitable Foundation Trust, which marks an exciting next chapter in our story of giving. The Coop Foundation will allow us to significantly extend and increase the reach of our philanthropy. We celebrated the Foundation’s debut in December by awarding $105,000 in one time and multi-year grants to four charitable organizations. What an exciting way to kick off the Foundation and close the year!
As always, we thank you for choosing The Coop as your community bank. We wish all of you happiness and success in the year ahead.