Mutuality and the Difference It Makes for Dollar Bank Customers. Board Of

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Mutuality and the Difference it Makes Board of Directors for Dollar Bank Customers. Esther L. Barazzone, Ph.D. President Emerita Many people do not know what being a mutual bank means or why that could be meaningful for them. Chatham University

Dollar Bank is not owned by stockholders. We manage this Raymond T. Betler institution to develop long-term relationships with our depositors Former President & CEO and loan customers. We do not manage our daily activities for Wabtec Corporation quarterly dividends paid to stockholders. Robert E. Blackham, Atty. As a bank, we believe that underwriting formulas are not the best Firm President/Chairman way to understand a customer’s business. Through thoughtful Roetzel & Andress, LPA interaction, we strive to learn the uniqueness of each of the customers Cleveland, OH we serve. That is how we develop long-term relationships and we do it because it is what’s best for our customers. Dollar Bank Representatives don’t work on commission. Therefore, they don’t Kim Tillotson Fleming try to sell services and products that customers don’t need or want. Chairman & CEO Hefren-Tillotson, Inc. We recognize that our strength and stability corresponds directly with the strength and stability of our customers. Depositors, Thomas A. Kobus borrowers, business owners… we are in this together and that is Former EVP/ CFO & Treasurer probably not something you’ve heard from your banker before. Dollar Bank, FSB In fact, money raised through our depositors is reinvested locally in the communities we serve. Many banks claim to want a lasting relationship with their customers. At Dollar Bank, we’ve lived this Robert A. Krizner philosophy every day since 1855. Former Managing Partner KPMG, LLP During the 2019 fiscal year, Dollar Bank’s financial statement reflects its continued strength and growth as a full service financial James J. McQuade institution meeting the banking needs of our community for more President & CEO than 160 years. Our core capital amounted to over $1.08 billion, or Dollar Bank, FSB 11.98% of our average total assets. Robert P. Oeler As a mutual institution, Dollar Bank’s capital strength is the result Chairman of the Board of prudent management. We have been consistently rated as well capitalized by government regulators, representing the highest Dollar Bank, FSB category of financial soundness. The growth of our operation is the result of serving the needs of our customers, versus stock based Samuel J. Stephenson, CPA financial institutions serving the needs of shareholders. Former Firm Director Baker Tilly Virchow Krause LLP Dollar Bank’s ongoing commitment to our customers has & Former Partner, ParenteBeard differentiated us and is central to every Dollar Bank employee’s approach to banking. Leila L. Vespoli Former EVP, Chief Legal Officer First Energy Corp. Cleveland, OH

Roger E. Wright Former VP, CNG & Former James J. McQuade President, Peoples Natural Gas President & CEO

A copy of Dollar Bank’s audited financial statement is available by writing to the Treasurer: Dollar Bank Accounting Department, Three Gateway Center, 9 West, Pittsburgh, PA 15222 2019 Annual Statement of Condition November 30, 2019 ($ in thousands) ASSETS

Cash and Cash Equivalents...... $ 549,464 Investment Securities Available For Sale...... 1,005,765 Investment Securities Held to Maturity...... 43,816 Total Cash and Investment Securities...... $ 1,599,045 Investment in Federal Home Loan Bank Stock...... 31,797

Loans Receivable: Mortgage and Home Equity Loans Residential...... 5,203,716 Other Mortgages...... 1,109,312 Total Mortgage and Home Equity Loans...... 6,313,028 Non-Mortgage Loans Commercial...... 743,357 Consumer...... 281,932 Total Non-Mortgage Loans...... 1,025,289 Total Loans...... 7,338,317 Allowance for Loan and Lease Losses...... (43,394) Net Loans Receivable...... 7,294,923 Premises and Equipment...... 106,655 Goodwill...... 419

Other Assets: Accrued Interest Receivable...... 24,604 Other Assests...... 37,975 Total Other Assets...... 62,579 TOTAL ASSETS...... $ 9,095,418 LIABILITIES

Deposits: Checking...... $ 2,108,370 Savings...... 3,366,034 Certificates and Other Deposits...... 1,484,116 Total Deposits...... 6,958,520 Borrowings...... 985,917

Other Liabilities: Advance Payments by Borrowers for Taxes and Insurance...... $ 39,525 Accrued Interest Payable and Other Liabilities...... 42,061 Total Other Liabilities...... 81,586 TOTAL LIABILITIES...... $ 8,026,023

CAPITAL

Total Surplus...... 1,069,395 TOTAL LIABILITIES AND CAPITAL...... $ 9,095,418

Regulatory Capital ($ in thousands) Capital at Regulatory Excess 11/30/2019 Requirement Capital Tier I Leverage (Core) Capital $1,078,055 $359,922 $718,133 Tier I Risk-Based $1,078,055 $349,919 $728,136 Total Risk-Based $1,122,550 $466,559 $655,991