Wilmington, Ohio – January 6, 2015 – The Wilmington Savings Bank announced today that the Federal Deposit Insurance Corporation (the “FDIC”) and the Ohio Division of Financial Institutions
(the “ODFI”) have terminated the Consent Order against The Wilmington Savings Bank. The Consent Order has been in place since October 26, 2011.
President Thomas W. Burns said “We are very pleased that the Consent Order has been lifted and that our efforts to improve the financial condition of the Bank have been recognized by the FDIC and the ODFI. During the last three years the Board, management and staff have worked diligently to improve overall credit quality of the Bank’s assets, internal controls and operational efficiency. These improvements have positioned the bank for future growth and profitability.”
The Wilmington Savings Bank reported at September 30, 2014 total assets of $126.7 million and total capital of $25.0 million or 19.7%. The Wilmington Savings Bank also reported earnings of $1.1 million for the nine month period ending September 30, 2014.
About The Wilmington Savings Bank
The Wilmington Savings Bank is a mutual Ohio state savings bank formed in 1890. The Wilmington Savings Bank is a full service bank offering residential mortgage loans, consumer loans, commercial loans and deposit products and services. The Wilmington Savings Bank primarily markets their products and services in Clinton County, Ohio. Additional information regarding The Wilmington Savings Bank’s products and services is available at http://www.wilmingtonsavings.com