Eastern Savings Bank, fsb.

To download a complete, printable version of our Statement of Condition, click here.

Message from the Chairman of the Board

I became intimately involved with the Bank when my late husband, Harold, first made the Bank his own in 1981. Of course, it was his baby, not mine, but from the very beginning it was clear that this new venture was going to be an important part of my life. My formal education was in the field of education, and my graduate studies were in the area of counseling the gifted and talented. Little did I know that I was actually preparing for my role as Chairman of the Board at Eastern Savings Bank, for it has been my great honor and privilege to watch, to learn, and to share our success with this wonderfully gifted and talented family of Eastern associates. I am filled with gratitude and awe for what we have accomplished, for what is yet to come, and most importantly, for who we are.

Locally Born and Bred

From the beginning Eastern Savings Bank has been a local bank run by local people. Established in 1905, the Bank, then named Eastern Building and Loan, was one of over 200 small savings and loan associations in the Baltimore area. Over 100 years later, we are proud to say that we are still locally owned and operated by people who were born and raised right here in Baltimore. Beth Goldsmith, our Chairman of the Board, and our Executive Committee Members, Alan Berkowitz, Yaakov Neuberger, and Larry Trainor all grew up in Baltimore. Not many banks these days can boast that the members of their executive management team are “locals.”

While we are not the biggest bank in the area, we are extremely proud of our accomplishments. We have grown slowly and steadily since 1981. Today, we stand as a top financial institution in the metropolitan Baltimore area with assets of $980 million at year-end 2006. With over 250 associates and four deposit branches, we believe that our size allows us to quickly respond to opportunities as they present themselves. But what truly sets us apart from the competition is our staff. Almost 50% of our associates have been with the Bank longer than 10 years. That longevity has allowed us to build a strong corporate culture of dedicated, loyal, creative individuals who are some of the best at what they do.

New Beginnings

2006 was an exciting year for Eastern Savings Bank. On January 14, 2006 we opened the doors to our newest branch in the Yorkridge Shopping Center in Lutherville. In November 2005 ground broke for the construction of our new branch in Pikesville, and we opened for business just 10 months later on September 11, 2006. We are delighted to be a part of both of these vital communities with new state-of-the-art facilities.

A Community Focus

Not only are we committed to hiring and retaining the very best associates, we are also dedicated to the communities we serve. We do not take our role as a community bank lightly, which is why we donate both time and money to numerous organizations throughout Baltimore. In fact, Bank associates donated almost 6,000 hours to various charitable organizations and worthy causes in 2006. The Bank’s monthly “Casual for a Cause Day,” now in its 10th year, continues to receive strong support from our associates whose requests determine which local charities are selected. We are proud to support those organizations that benefit the community, especially those that provide disadvantaged children and families with the assistance they need. Here are just a few of the organizations that we have supported over the years:


	Catholic Charities - Dragon Boat Race Sponsor
	Rebuilding Together Baltimore
	CHAI - Comprehensive Housing Assistance, Inc.
	Habitat for Humanity
	Villa Maria Residential Treatment Center
	Literacy Works
	Neighborhood Housing Services of Baltimore
	Making Strides for Breast Cancer
	Johns Hopkins Childrens Center
	CASA of Baltimore County
	Big Brothers and Big Sisters
	Maryland Food Bank
	American Red Cross
	Genesis Jobs
	Civic Works
	The Preston Mitchum, Jr. Foundation
	Maryland Zoo in Baltimore

The Bank also continues to partner with a local organization within the community of each deposit branch by donating $5 for every account opened. We salute the vision and actions of each of these outstanding organizations, which include:


	Ahavas Yisrael Charity Fund
	Family and Children's Services of Towson
	Jewish Family Services
	St. Peter's Pantry
	Voices for Children of Howard County
	St. Vincent's Center

Community Reinvestment

Our dedication to the Community Reinvestment Act is more than just words. Aside from dedicating time and money to local organizations, Eastern Savings Bank associates spent 4,000 hours in 2006 repairing and renovating homes in the Baltimore area. Most were located in low-income neighborhoods in desperate need of revitalization. We are delighted to provide young, first time homebuyers or those with low to moderate incomes an opportunity to purchase homes of their own.

The Faces of Eastern Savings Bank

Of course, the most vital part of Eastern Savings Bank is our people. Without the caring and dedicated professionals we have on staff, we would not be able to do the important work we do for our customers and our communities. When you step into one of our deposit branches, you will be greeted by the warm and friendly face of one of our managers.


	Agnes Arnold started her banking career with Eastern Savings Bank 22 years ago. She has worn many hats over the years, and her role as Sales Director for First Eastern Financial Services, a subsidiary of the Bank that provides alternative investment products, has been one of the most rewarding. Her experience led her in 2006 to become a Certified Senior Advisor specializing in assisting seniors with the unique challenges they face. She is intensely committed to her customers and her community and works with several organizations in Southeast Baltimore. Agnes says, “I love interacting with my customers. I especially enjoy working with seniors and providing them solutions to their financial needs and concerns.”

	Donna Byers is a seasoned banker with 30 years’ experience. Eastern Savings Bank has been fortunate to have Donna on our team for 12 years. She manages a staff of four in Ellicott City where she also lives. Donna is especially committed to the children in her community and is actively involved with several local schools where she teaches children the importance of saving. The most rewarding part of her job is her daily interaction with her customers. According to Donna, “Each day is different and never boring because of the people I meet!”

	Darlene Conner of our Fullerton office has spent 12 of her 21 years in banking with Eastern Savings Bank. She maintains close ties with the community through her commitment to both the Overlea Fullerton Business and Professional Association and The Preston Mitchum, Jr. Foundation, which works to enrich the lives of needy children and families throughout Baltimore. Darlene says, “I am a person who loves human interaction. This job allows me the opportunity to meet people from all walks of life. Every day I learn something new from my customers.”

	Sandy Howell is certainly considered to be one of the Bank’s most dedicated associates. For the past 12 years, Sandy has commuted from her home in Easton, Maryland to manage branches in Fullerton, Towson, and now Lutherville. A Certified Senior Advisor with 25 years of total banking experience, Sandy has been with Eastern Savings Bank for over 17 years. She proudly serves on the board at Timothy House where she is currently the chairman of the Residents Care Committee. What is Sandy’s favorite part of her job? According to her, “The nice people I have met over the years.”

	Marcia Murray has been with the Bank’s Pikesville office for 11 years and has been in banking for 34 years. She manages the Bank’s largest deposit branch with the assistance of her experienced staff of 10. Marcia truly believes in going the extra mile for her customers no matter what the situation. She says, “The close relationships I’ve developed with our customers are so special to me. Being able to assist them not only with their banking, but also in areas outside the Bank gives me such a wonderful feeling. They are like an extended part of my family.”

Our Sincere Thanks

Ensuring that each of our customers receives the highest level of customer care is a never-ending process and our number one priority. We understand that you have many choices when it comes to your banking needs, and we sincerely thank you for granting us the privilege of serving you.