President’s LetterApril 22, 2013

Welcome to Spring 2013.  Has there ever been a more anticipated season at the Jersey Shore?  Spring is equated with optimism and rebirth.  We’re all looking for signs that there will be sustainable improvement in economic conditions; particularly after experiencing the scourge of Superstorm Sandy.

It seems to be universally believed that full recovery from October 29, 2012 will take years and in some respects that the entire “landscape” of the Jersey Shore has been forever modified.  True or not, we also understand that this is “Our Jersey Shore” and the commitment to rebuild/restore/renew that is attendant with ownership is, thus far, nothing short of remarkable.

We have witnessed some truly herculean rebuilding efforts in an incredibly harsh environment.  What we are all hoping for is that the macro-economic forces can somehow lend support to the local residents and communities that are pulling out all stops to give us a summer tourist season that will be so critical to our continued revival.

Recognizing that the general economic recovery is categorized as fragile there are some meaningful indicators that are beginning to trend in a positive direction.  Statistics such as unemployment, housing starts, home sales and retail sales have all shown incremental improvement over the last few months.  Consumer confidence, one of the primary drivers of economic growth, has improved over the dismal ratings of only a year ago.

It is important for Manasquan Savings Bank to understand economic dynamics, as we firmly believe that we play a critical role in helping to fund local, sustainable economic growth.  Our slogans for the Spring and Summer of 2013 are:

“With You Every Step of the Way” and
“Live Local. Bank Personal.”

And we’re putting our money where our mouth is.  Our full array of retail and commercial lending programs provide capital – the engine of growth – to the residents and small businesses in our market areas.  We are a community bank serving the depository and credit needs of our communities and we take great pride in proving that we can do so in a fashion that’s more efficient, more personal and more local than other institutions.

If you are currently one of our valued customers, thank you.  If you are not, we invite you to rediscover the personal service of a true Jersey Shore banking institution.

James S. Vaccaro

Sincerely,
James S. Vaccaro
President and Chief Executive Officer

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