Financial position

As at 31 December 2014

Head office: 11/12 Cradock Street, Swansea, SA1 3EW Results for the year £000 T: 01792 483700 Net interest receivable 4,876 W: swansea-bs.co.uk Other income and charges 235 E: [email protected] Administrative expenses (2,169) Twitter: @swanseaBS Provisions - bad and doubtful debts (7) Provisions - FSCS levy (157) Established: 1923 Non-executive directors Profit for the year before taxation 2,778 Incorporated: 1923 Chairman, John Mahoney Taxation (602) Auditor: PwC (external) KPMG (Internal) Deputy Chairman, Gwyn Williams Roger Poolman Solicitor: Blake Morgan Paula Kathrens No. of branches: 2 Jeff Herdman Ieuan Griffiths No. of agents: 0 Profit for the year 2,176 No. of estate agency branches: 0 Other principal executives Assets £000 No. of ATMs: 0 General Manager, Company Secretary, Head Liquid assets 66,431 of Compliance and Risk, Adrian Hawes No. of full time staff: 17 Financial Controller, Gareth Stroud Mortgages 160,337 No. of part time staff: 11 Fixed and other assets 920 No. of borrowing members: 1,482 Sales distribution channels for mortgages No. of investing members: 10,795 Branches: 60% Total members: 12,277 Intermediaries: 40% No. of depositors: 360 Total assets 227,688 Executive directors Liabilities £000 Chief Executive, Alun Williams Deputy Chief Executive, Neil Rosser Shares 186,697 Borrowings 26,191 More about the society Other liabilities 951 Subordinated liabilities - The Swansea (then Dillwyn Permanent) Building Society was founded in 1923 by a well known Reserves - general reserves 13,818 local Estate Agent and Valuer, Jno Oliver Watkins, and a small group of other high profile Swansea businessmen. The original purpose of the society was essentially to provide a safe Revaluation reserve 31 haven to save their money on a regular basis with a view, in most cases, to accumulating a deposit towards the purchase of a property. The society’s original offices were incorporated within those of Jno. Oliver Watkins Estate Agents on St.Helens Road and remained there until the offices were destroyed by enemy action during the 2nd World War. The Estate Agency then moved to new offices at 21 Walter Road, Swansea and the society went with it. Total liabilities 227,688

By the late 1960’s the decision was made that the society should operate completely Financial ratios % independently of the Estate Agency and to that end it moved to its present location in Cradock As a percentage of shares and borrowings - Street in circa 1969. The 1970’s and 1980’s were the start of a revolution in the products and Gross capital 6.51 services building societies began to offer to their customers. Savings account ranges expanded and mortgage products became more flexible and adaptable to customers individual needs. In Liquid assets 31.20 tandem with this modernisation of services Society’s started to look at their corporate image As a percentage of mean total assets - and in 1984 the society decided to change its name to the Swansea Building Society as a statement of its historical foundations and commitment to the local community. Profit for the year 0.96 Management expenses 0.96 Things have certainly not stood still since then and now, in its re-furbished and modern offices in Cradock Street the Swansea Building Society, whilst justifiably proud of its history, can look forward Lending Limit 3.56 to a future of offering the public of Swansea and South the highest standards of financial Funding Limit 12.30 service support as a strong and secure haven for their finances.

Percentage increase in 0.90 total assets during the year

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