Dear Middlesex Customers,
2018 was a profitable and productive year for the Bank. With record earnings of over $40 million, we were able to make significant investments in our infrastructure, new technology to improve your experience, and programs that support the community. During the year, we broke ground on major renovations to several branches with the goal of giving you, our customer, more modern and aesthetically pleasing spaces in which to conduct business. Continuing on our promise to provide access to the latest technologies, we also replaced all of our ATMs with new, state-of-the-art machines. With all new technology, we recognize there is a learning curve; but, if you’ve used one of our new ATMs, you’ll have noticed that they are much faster and that you no longer need an envelope to complete your deposit.
Supporting our community is one of our core values and in December 2018, we were pleased to announce a $1.4 million gift to support the food pantries, senior support organizations and libraries that serve our branch towns. This gift was given in gratitude to both our customers and the communities we serve and was distributed in late January. Having the ability to support our communities, through both the Bank and the Middlesex Savings Charitable Foundation, is an honor and we’re very happy to be in a position to help.
You may have recently seen or heard about some banks in Massachusetts being acquired. As one of the country’s oldest and largest mutual banks, a structure that has no outside shareholders, I can assure you that Middlesex intends to remain an independent and an integral part of the community. As we sit here today, the Bank is very financially strong which allows us to weather economic ups and downs and positions us well for an independent future. While consolidation of local banks will likely continue, we continue to be focused on growing relationships with the households and businesses in our community.
All of us at the Bank are truly grateful to you for choosing Middlesex as your banking partner. We recognize that you have many options when it comes to your banking, but we believe that community banks like Middlesex are an essential component of the banking landscape. We remain committed to understanding your goals and finding ways to help you achieve your objectives. This philosophy has served us well for the past 183 years and will continue to guide us in the years to come.
On behalf of everyone at Middlesex, we wish you all the best for 2019.
President and CEO