b'LETTER FROM THE PRESIDENTAs we begin 2020a new decadewhat a wonderful time toand leadership skills by providing them the opportunity to reflect on and celebrate all weve accomplished in 2019, a yearrepresent the Bank at industry and community events and that commemorated our 170th Anniversary! through social media. This important program also shinesAnd what a year it was; key highlights of 2019 include thea light on our customer relationship focus, helping to deepenBank achieving assets in excess of $1 billion and growing by aour connection with customers.record of more than $37 million. The Savings Bank of DanburyIn honor of our 170th anniversary in 2019 and in partnershipreorganized our corporate structure and formed a mutualwith the Danbury Museum, we sponsored Phase III of the holding company while retaining our historical commitment toCharles Ives Home rehabilitation project, an important piecemutuality and independence.Our financial strength, stabilityof the Citys and the Banks history. Now owned by the Danbury and responsible growth and progression are estimable andMuseum and Historical Society, the Charles Ives Home housed our ranking as one of the top banks in Connecticut remainsthe original Savings Bank of Danbury. The project has an constant. In fact, in 2019, we once again achieved a Superiorexpected summer/fall 2020 completion date and we look 5-Star Rating from Bauer Financial, the nations premier bankforward to the public opening of this historic property.rating firm. We were also designated as Lender of the Quarter Martin G. Morgadoby the U.S. Small Business Administration in the spring, an Entering 2020, we will continue to remain current with new President and honor achieved for demonstrating an extremely strongtechnologies in a constant effort to better serve our valued Chief Executive Officer commitment to the small business community. customers, both present and future. We will also continueto offer a competitive suite of products and services andTechnology upgrades now in place for two years have servedwork diligently to enhance the Banks brand in online andto enhance our commitment to outstanding customer service,offline channels.while keeping us competitive in the marketplace.We are proud to be recognized as the oldest continuous The Banks involvement in the community remained strongrunning business in the City of Danbury. throughout 2019. The Bank and Savings Bank of DanburyThroughout the past 170 years we have remained true toFoundation awarded more than $650,000 to local communityour motto we are about people serving people and we have agencies. Since its establishment, the Foundation has awardedevery intention of keeping that promise for the next 170 years more than $2 million in donations to the communities we and beyond.serve, and it gives us great pleasure to support so many worthwhile causes. I would like to thank our Board of Directors, corporators, A strong commitment to our employees has and always willemployees, and all of our customers for your continued be a priority; it is our genuine pleasure to promote activitiesconfidence in Savings Bank of Danbury. Your commitmentthat support a positive work environment and to championand dedication are greatly appreciated.the causes our staff members participate in outside the office.Sincerely,Employee activities this past year included community service, team building, numerous cultural programs and the creation of our Ambassador Program. This employee program is designed to help expand our team members professional developmentMartin G. Morgado'