Minster Bank ends 2022 with 9.81% increase in net profit

MINSTER — Community banks succeed when local economies thrive, and their success is intimately tied to the consumers, communities and small businesses they support. In 2022, the key financial performance measures of return on average equity and return on average assets were 17.31% and 1.09%, respectively. Minster Bank saw 4.80% growth in its loan portfolio despite all Paycheck Protection Program loans being canceled by the Small Business Administration as part of pandemic relief measures. Minster Bank ended the year strong with a 9.81% increase in net profit.

Dale Luebke, President and CEO, said, “With the significant increase in activity we have experienced this year, it would not have been possible without all of the hard work, dedication and perseverance of our employees to meet the needs of our customers. Our employees have done an outstanding job of meeting the needs of our local communities. »

His report continues:

Through a relationship with your local bank, individuals and businesses can realize significant economic benefits. Money managed by Minster Bank is reinvested in the community through loans and other financial services for individuals, families and small businesses. When you maintain a checking, savings, or other type of account with a community bank, you increase its ability to offer competitive mortgages and small business loans.

Minster Bank is actively involved in community service efforts, which can range from charitable donations and programs to sponsorship of local organizations and clubs. We continue to offer financial literacy programs to students with in-person and online programs available for K-12 students. Each year, over $15,000 in scholarships are awarded to local graduating seniors. Minster Bank believes in doing our part to help the future citizens of the communities we serve.

Minster Bank’s investment in technology has benefited customers in terms of convenience. Mobile and online banking usage has increased as more customers find they can manage accounts, pay bills, deposit checks and quickly send money to a friend or member family with Zelle anytime, anywhere. MoneyPass offers free access to more than 35,000 ATMs nationwide. Remote Deposit Capture allows businesses to deposit checks from their place of business. We also continue to invest in protecting our customers’ information. Positive Pay has been implemented and this service offers business customers a tool to mitigate check fraud. Minster Bank debit cards and Health Savings Account (HSA) cards can be used with a mobile wallet. Clover was introduced in 2022 to help business owners offer merchant services and accept credit card payments.

Our private wealth management and trust services continue to grow. We have developed a specialty in retirement planning for individuals and businesses. Business owners and high net worth clients have benefited from working with our professionals in the areas of business succession planning, trust and investment management.

Minster Bank, a local community bank, headquartered in Minster, Ohio. Offices are located in Minster, New Bremen, St. Marys, Sidney, Troy, Vandalia-Butler and Wapakoneta. Visit MinsterBank.com to learn more about Minster Bank.

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