Letter from the President

Thank you for visiting cfsbank.com and getting to know cfsbank. I find the dawn of the New Year refreshing and 2017 is no different. It is exciting to think about the months ahead, make resolutions and set out to achieve them.

During the second quarter of 2016, cfsbank began construction of an 11,000 sq. ft. facility in Southpointe that we believe will be a dynamic and profitable segment of our overall footprint. The alignment of the banks corporate offices in Charleroi, along with a smart branch and Commercial sales center in Southpointe, demonstrates our commitment to the long term development of cfsbank as a prime lender and depository within the fastest growth corridor in Western Pennsylvania. Our Board of Directors and employees are happy to be involved in such a project that will become the banks tenth branch, while stressing cfsbanks commitment of organic growth as an independent community financial institution. This branch will also complement our strategy in building around a population of high growth areas with competitive financial products vital to the economic health and well-being of individual, professionals and businesses in the local community. Cecil Township has been very supportive of our expansion and we look forward to being a good neighbor to all who work and live in the Southpointe community. A late first quarter, early second quarter opening is expected.

In terms of commitment and services to our customers we truly recognize the choices we offer and the way business is transacted in today’s world really matter. Our customers expect and deserve convenient, reliable and secure channels to facilitate their financial transactions. In 2016, cfsbank made considerable investments in technology to ensure safe delivery of these expectations. The bank effectively completed a mass reissue of debit and credit cards with the EMV chip that provides an added protection against fraud. Additionally, the bank has implemented a new debit card fraud prevention program which has had a positive impact on our customers by saving thousands of dollars in potential deception activity.

When it comes to our culture I am delighted to say that because of our size, success, and mutual charter, we have the unique ability to help communities we serve through employee volunteer efforts and thousands of dollars in donations to charitable and civic causes. In November, 2016, the Washington County Community Foundation recognized these efforts as cfsbank was granted the Charles C. Keller Excellence award for Corporate Philanthropy.

Financially, we are very proud that our bank has continued to maintain a stellar balance sheet. Again, cfsbank is profitable, has substantial liquidity and maintains a capital position more than twice that is regulatory mandated.

Never in our 80 year history have we so many opportunities in front of us. As we look to the future, we resolve to double-down on the basics you have come to expect and love – the unparalleled customer service as well as delivery of long term value through our products and technology.

We appreciate your support. On behalf of our Board of Directors, management and our extraordinary staff we are honored to have the privilege of serving you.