Corporate Profile
In January 2005, Fairport Savings Bank reorganized into the two-tier mutual holding company structure. As part of the reorganization, Fairport Savings Bank formed FSB Community Bankshares, Inc. and FSB Community Bankshares, MHC, a federally chartered mid-tier stock holding company and mutual holding company, respectively. As a result of the reorganization Fairport Savings Bank became a federally chartered capital stock savings bank and a wholly owned subsidiary of FSB Community Bankshares, Inc., and FSB Community Bankshares, Inc. became the wholly owned subsidiary of FSB Community Bankshares, MHC. The same directors and officers who manage Fairport Savings Bank manage FSB Community Bankshares, Inc. and FSB Community Bankshares, MHC.
In August 2007, FSB Community Bankshares, Inc. successfully completed a minority stock offering. 1,785,000 shares of common stock were issued, of which 838,950 shares, or 47.0%, were sold to the public and 946,050 shares, or 53.0%, were issued to FSB Community Bankshares, MHC, the Company's parent mutual holding company. Net proceeds from the offering were approximately $7.5 million.
Our Business Strategy is:
- Operate as a community-oriented retail financial institution in Monroe County, NY
- Manage our interest rate risk
- Continue to emphasize the origination of residential real estate loans
- Maintain high asset quality.
For more information about Investor Relations please contact:
Dana Gavenda
President & CEO
Fairport Savings Bank
45 South Main Street
Fairport, NY 14450
(585) 223-9080
dgavenda@fairportsavingsbank.com
