A symmetrical leaf with the stem running down the center of the image.

3rd Quarter 2018 Shareholder Newsletter

October 2019
As we approach the end of the year and look forward to the holidays, we are grateful for three very good quarters in both our Banking and TFO divisions. Strong Banking and TFO revenue, excellent asset quality and expense management have resulted in much better than expected financial performance year to date.
While we experienced some balance sheet volatility at quarter end due to credit line reductions and large client deposits, we are pleased with asset and loan growth over the last year. YTD net income and operating income in both divisions continue to exceed budget and are posting significant increases compared to last year. About half of the 34% increase in YTD net income is due to the lower corporate tax rate. The other half is due to improved performance in both the Banking and TFO divisions. Exceptional company-wide performance is reflected in Return on Average Assets above 1.5% and Return on Average Equity above 15%. We look forward to continuing the positive trend of the first three quarters through year end.

In September, Nolan Lovan joined our team as a Commercial Lending Officer. Nolan graduated from the
University of Dayton with a major in Finance and Entrepreneurship. Following college, Nolan was a member of the commercial lending team at PNC Bank. He spent the past three years at Spire, Inc. as an analyst in the Strategy & Corporate Development department, focusing on strategic planning, mergers & acquisitions and evaluating investment opportunities. Welcome to Parkside, Nolan!
The rain didn’t damper our fun at Parkside’s annual Paint the Date Art Fair Party in September! Thank you to those who joined us, despite the weather, and introduced us to your friends and family.

The holiday season ahead provides the opportunity to reflect and be thankful for those who have supported Parkside in achieving its goals. We value our relationship with you, thank you for your support and look forward to working with you in 2019 and beyond.

From our family to yours – we wish you a safe and happy holiday season.
James C. Wagner - CEO
Andrew S. Hereford - President, Bank
Matthew A. Wagner - President, TFO