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President’s Letter Fall 2013

October 28, 2013


The passage and measurement of time is a man-made phenomenon.  We’re usually not too concerned about time’s inexorable passing—unless we’re late for an appointment or looking forward to a major event.

But there are certain moments when time becomes a focus and dates take on special meanings.  For example, when we mark the end of one year and celebrate the beginning of another.  Or when we reflect upon the past to see how far we’ve come.  It was a little more than a year ago that Sandy ravaged our shoreline and flooded our communities.  While we’re still a long way  from recovery, we’ve made some remarkable progress.

Manasquan Savings Bank is extremely proud to have taken an active role in helping to  fund that recovery.  Do you know that since Sandy, we have generated more that $150 million in residential and business loans in Monmouth and Ocean Counties? All of the funds were locally generated and all decisions emanated locally.  It gives added meaning to our slogan:  Live Local, Bank Personal.

As we move into 2014, our bank will proudly celebrate its 140th anniversary.  The bank was incorporated in 1874, and chartered by the State of New Jersey as the Squan Village Building & Loan Association.  To put this into perspective, consider these other occurrences in 1874.

  • Bronx formally becomes part of New York City.
  • Jesse James was still terrorizing banks and trains with his gang of outlaws.
  • Tennis was introduced.
  • President Ulysses S. Grant was in office.
  • The first zoo in the United States opened in Philadelphia.

While there is tremendous value to consistent service in a world that is constantly changing, there is even greater value in our constantly evolving methods of delivering our service.  Citizens of 140 years ago would check their balance in a handwritten passbook.  Today Manasquan Savings Bank customers can view balances on tablets, pay bills online and soon (very soon) be able to scan checks directly into their accounts via smartphones.

Time marches on as evidenced by the beautiful sunrises, sunsets and sets of waves we’ve featured in our 2014 calendar.  (Be sure to pick up your free copy at any of our branches.)  We hope you enjoy marking the passage of time with us this year and think of us when it comes time to do your banking.

James S. Vaccaro
President and Chief Executive Officer


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