HISTORY

Redwood National Bank, headquartered in Alexandria Bay, New York turned 85 years old in April 1998.

The bank has grown quite a bit since its first days in Redwood, New York. With only one branch and $43,000 in first day deposits, it has grown to seven branches throughout Jefferson County with approximately $63 million in assets. Redwood National Bank has been demonstrating for years that it's a leader and not a follower. It was the first Bank to open a location in a supermarket with the opening of its Clayton Branch inside the Clayton Big M. It also offers its own credit card and more importantly, its own debit card.

Being based in Jefferson County allows the Bank to invest its money right here. The majority of Redwood National Bank loans are made to Jefferson County residents with some also being made to residents of Lewis and St. Lawrence Counties. It also makes donations on a regular basis to local groups and organizations including the Children's Miracle Network and United Way. Another benefit is local lending decisions; with lending officers in every branch. the Regional Loan Administrator is located in Watertown and there is a Commercial Loan Development Officer in the Alexandria Bay Office whose primary function is to build and expand commercial relationships with small business owners in the North Country.

To celebrate the 85th birthday of the bank, RNB opened a branch located at 146 Arsenal Street, City Center Plaza, Watertown. The Watertown branch is a culmination of years of effort to find just the right location to expand the Bank's customer base and to service existing clients in the Watertown market. This location is significant because it is located downtown in the Economic Development Zone and demonstrates the Bank's commitment to downtown revitalization. the new location has two drive-up lanes, a 24 hr. ATM and extended hours for both the lobby and drive-up.

The bank has seen the majority of its growth in the last 10 years. In 1988, Redwood National Bank opened its Adams branch and in 1996 moved the branch to a new building on Rte. 11. More recently, the LaFargeville branch opened in 1994 and the Clayton location in 1996.

The Redwood National Bank earned its 7th consecutive 5-Star Superior rating from the Bauer Financial Reports, Inc., the nation's leading independent bank research firm. The award is based on the analysis of the most recent financial data as filed by the Bank with federal regulators, supplemented by historical data. "The Redwood National Bank's superior strength and performance, achieved time and again, compares favorably to banks nationwide," said Paul A. Bauer, president of the research firm.