Message from the President
To Our Valued Customers:
We wanted you to know that because of our strong capital position and continued solid financial performance, Heritage Bank of Schaumburg has voluntarily declined acceptance of a $3 million capital investment which had been approved for our Company as part of the U.S. Treasury's Capital Purchase Program (CPP).
Our Company Board and Management felt that, given our capital strength and continued strong financial performance, the costs of accepting the government's funding far outweighed any benefit of the additional capital. Our balance sheet is characterized by high capital levels and very few non-performing loans. In short, we are a strong, safe bank that does not need any government funding.
We are proud to be Schaumburg's "community" bank and to continue to serve the needs of our area residents, businesses and not-for-profit organizations. Thank you for your continued confidence and support. Let me know if you have any questions.