Letter from the President: January 2008

      

Dear Friends of Liberty National Bank, 

“If you always do,
What you have always done
You will always get what
You have always gotten.”
-----Socrates

In late 2006, Management and your Board of Directors met to compile a new Strategic Plan. As usual the discussion focused on the Bank’s visions of growth. With a great deal of loss in manufacturing jobs in Hardin County in the past several years, it was clear that the Bank needed to expand into growth areas. Certainly we were not going to abandon our existing markets, but we did acknowledge the need to diversify our deposit and loan base.

A great deal of due diligence was done by Management in 2007, which enabled us to determine the best geographic expansion option. Along with assistance from an independent consultant, we concluded that the new commercial development in Marysville, City Gate, at the intersection of Highways 33 and 36 afforded us a timely and exciting opportunity.

We obtained the necessary Board and Regulatory approvals; contracted with Thomas and Marker Construction of Bellefontaine and RCM Architects of Findlay; started construction in August, 2007 and opened for business on January 28, 2008. We are very appreciative of the efforts of Mike Shuster, bank Vice President, in coordinating the construction with all the contractors; equipment vendors; and Roby Company office furnishings and decorations.

Notwithstanding that the Marysville project was quite an experience, we also introduced some revolutionary operational services in 2007. On July 25, 2007, the Bank launched a new product called Remote Merchant Capture. Remote Merchant Capture allows certain business customers to electronically deposit checks from their office by using a scanner. On August 9, 2007, the Bank started using Branch Capture. This process is when the Bank converts their paper work into an image format which allows the Bank to process information electronically. What does this mean exactly? For the Bank, it will allow us to be more efficient and cut multiple costs. For the customer, it means faster check clearing, decreased fraud and increased security.

In 2008, we will continue to look at ways technology can enhance the value of our products to our customers. The Bank has a Product Development Committee that meets monthly to evaluate the benefits and costs of all new and existing products. The Bank is looking forward to product opportunities offered in 2008 and communicating those to you in future publications.

Throughout this report, we focused on how the Bank is located in three counties, with five offices. We invite you to come and visit all of the offices and meet the employees that service you daily. We hope that by growing into different areas and having more offices available, this will make your banking experience more convenient.

There are many predictions about the economy in 2008; some of which might not sound promising. However, this is an election year which will bring many opportunities to the American voters. Our economy has struggled in the past and will continue to struggle in the future, but we are a nation, under God, that gives us the freedom to vote. So when November arrives, please use your freedom and go to the polls to vote for this wonderful country.

I want to thank you for your loyalty and support over the many years. 2008 marks 115 years of Liberty National Bank servicing customers. Without you, this wouldn’t have been possible. Please let us know how we may be of further service to you in the many years to come.

 

William C. Carr