Putnam Bank December 2017 Employee of the Month

Vinny Mazzarella was named Putnam Bank’s Employee of the Month for December 2017. Vinny has been with the bank since December 2007, and serves as the Network Administrator and Security Officer for Putnam Bank.

On receiving the award Vinny said, “I am honored to be chosen as the December Employee of the Month and happy to be a part of the Putnam Bank family. As we say, and I truly believe, Together We Make a Difference.”

Vinny is involved with many community events and charities, which include the Putnam Holiday Dazzle Light Parade, Moosup VJ Day Parade, QVCC Foundation Tackle the Trail, Day Kimball Healthcare Walk & Run for NECT Cancer Fund, and Thompson Turkey Trot.

“Vinny provides excellent service to all of us and is a delight to work with on both the Information Technology and Security sides of his position. His position is both challenging and requires a high level of expertise. All of us are pleased to congratulate Vinny on this well-deserved award.” commented Thomas Borner, Putnam Bank President & CEO.

Putnam Bank, incorporated in 1862, is a $537 million state chartered and insured stock bank. Putnam Bank has branch offices in Putnam, Pomfret Center, Danielson, Plainfield, Griswold, Gales Ferry, and Norwich. It also operates a full-service loan center in Putnam. For more information call (800) 377-4424 or visit putnambank.com.

PB BANCORP, INC. ANNOUNCES DIVIDEND

Thomas A. Borner, President and CEO of PB Bancorp, Inc., has announced that the Company’s Board of Directors has declared a quarterly cash dividend on the Company’s common stock of $0.05 per share. The dividend will be payable to all stockholders of record as of January 17, 2018, and is scheduled to be paid on January 31, 2018.

“We are pleased to announce this latest dividend payment for the Holding Company” said Mr. Borner. “We believe that providing a return to our stockholders is an important part of being a community bank.  We look forward to continuing to build our brand of community banking, a journey we embarked upon 155 years ago, and serving our mission of enhancing the quality of life in the communities we serve”.

PB Bancorp, Inc., headquartered in Putnam, Connecticut, is the parent of Putnam Bank, a state chartered stock savings bank founded in 1862. The Bank offers a wide range of financial services through its eight full-service offices. Putnam Bank also operates a full-service loan center in Putnam, Connecticut. The Bank’s deposits are insured by the Federal Deposit Insurance Corporation. PB Bancorp, Inc.’s common stock trades on the NASDAQ Capital Market under the symbol PBBI.

Putnam Bank November 2017 Employee of the Month

Cheryl Mailhot was named Putnam Bank’s Employee of the Month for November 2017. Cheryl has been with the bank since September 2000, and is the Head Teller at the Danielson Branch.

Cheryl stated, “I am honored and humbled to be chosen by my co-workers to receive this award. We have a great staff whom I respect, and of which I am fortunate enough to be a part.”

Cheryl is involved with many community events and charities, which include American Cancer Society’s Relay for Life, American Heart Association, Friends of Assisi Food Pantry, Multiple Sclerosis Foundation, Muscular Dystrophy Association, and most dear to her heart, the Charcot-Marie-Tooth Foundation. She resides in Putnam with her husband Brian, and has two children, Jessica and Christopher.

“Cheryl is very dedicated to the bank, its customers and its staff. She shares her knowledge and experience, and serves customers with courtesy, respect and a genuine desire to provide the best customer experience.” commented Thomas Borner, Putnam Bank President & CEO.

Putnam Bank, incorporated in 1862, is a $537 million state chartered and insured stock bank. Putnam Bank has branch offices in Putnam, Pomfret Center, Danielson, Plainfield, Griswold, Gales Ferry, and Norwich. It also operates a full-service loan center in Putnam. For more information call (800) 377-4424 or visit putnambank.com.

Putnam Bank October 2017 Employee of the Month

Linda Brule was named Putnam Bank’s Employee of the Month for October 2017. Linda has been with the bank since December 1999, and is the Personal Banking Account Executive (Windham County).

Linda said, “I am very proud and honored to be recognized for this award, and that my fellow employees think so highly of me. It is a testament to the team spirit that is so clearly the backbone of this organization. We have a great group of people here and I am fortunate to be a part of it.”

Linda is an Affiliate member of the Eastern CT Board of Realtors and works closely with all the local Agents in making the Home Buyers’ experience with the bank as easy and stress-free as possible. She enjoys camping, working around the yard and lounging by the pool. She has two sons and three grandchildren, and resides in Plainfield with her husband, Dennis.

“Linda is a very dedicated and knowledgeable employee. With her many years of lending expertise she goes above-and-beyond for customers looking to purchase or refinance a home. We acknowledge Linda for her commitment, and are grateful to have her as part of our superb lending team,” commented Thomas Borner, Putnam Bank President & CEO.

Putnam Bank, in existence for over 155 years, is a $521 million state chartered and insured stock bank. Putnam Bank has branch offices in Putnam, Pomfret Center, Danielson, Plainfield, Griswold, Gales Ferry, and Norwich. It also operates a full-service loan center in Putnam. For more information call (800) 377-4424 or visit putnambank.com.

Organizing Your Finances for the Holiday Rush

The holidays are a time where we surround ourselves with family, friends and the people we love most. Whether you’re staying close to home or traveling across the country, the holiday season means you’ll be eating good food and spending plenty of time shopping.

While all that food may mean your clothes fit a little tighter, the shopping can have a similar impact on your wallet. It’s important to make sure your finances are organized before the real holiday rush is upon us. Not only will you be better prepared, but you’ll be less stressed so you can enjoy the holidays with your loved ones.

Make your holiday season more enjoyable by using these tips from Putnam Bank.

Technology is your Friend

It’s easier than ever to use technology to organize your finances. Take advantage of online and mobile banking to get a real-time look at your account balances. There are also several financial management tools available online that will help you with setting a budget and establishing saving goals.

Set Alerts

You already know that your bills are due at different times throughout the month, but it’s important to remember that the holidays may cause changes in those due dates. Verify any upcoming due dates and make note of any changes from your regular monthly payment schedule. Utilize the bill pay features of your online banking account to make sure payments are scheduled well in advance, and set up alerts to make sure you’re reminded of your payment and to verify that the payment went through.

Hold On To Your Statements

This is important to remember throughout the year, but keeping all your statements organized is important. Something as simple as keeping separate manila folders for your savings and checking account statements, IRA statements, 401(k) records and other financial documents can go a long way and won’t cost you much.

Get Rid of High Interest Debt

It can seem easier to use your credit card when holiday shopping. To make sure you can use your credit during the holidays, make sure you’ve paid down anything you owe.

Organizing your finances before the holidays hit will make your holiday season more enjoyable so you can focus on the things that matter most. Contact Putnam Bank to make sure your finances are set up for a happy holiday season.

 

Protecting Yourself While Shopping Online this Holiday Season

As the holidays roll up, buying items online increases exponentially. Unfortunately, cyber-attacks and identity theft also increases with that number. That’s why Putnam Bank has come up with some helpful tips and tricks to stay safe when shopping online this holiday season!

Don’t Use Unknown Wireless Networks

If you are in a coffee shop or an airport and a network pops up for you to connect to, your chance of being hacked skyrockets. When the network you are on is not protected, hackers have a chance to get into your mobile device and locate passwords, account information, and more. Even though you want to check your email or see if there is a good deal somewhere, try to resist in order to protect yourself.

Use Different Passwords

Yes, it is hard to use a different password for each site when you are connected to 50 or 100 sites. However, if a hacker gets ahold of one password, they can instantly use that password with your email to log into all other sites that have the same one.

Don’t Store Credit Card Info On Sites

When online sites have you enter your credit or debit card information, many of them give you an option to save your card information. They say it’s secure and most of the time it is, but hackers are still able to get into their account and find your information. Even though it’s a little more work to type your information in each time, it’s more work to deal with getting your money back after someone has stolen, and used, your information.

Avoid Clicking Links

When shopping online, there are millions of links connected to products or telling you they will bring you to the product you are looking for. These are easy ways for hackers to bring you to a site they created to give you malware. If you are on a trusted site, you can click the links there because they will only bring you to other places within their own site.

Shop Secure Sites

As mentioned above, it is okay to trust links within a secure site. However, if you are online searching for a certain gift to give someone and find a list that links to different sites, do not trust those sites. Search online about which sites are to be trusted before you go to them and give them your information.

These tips will aid you in being a security savvy shopper when the holidays begin. If you have any questions or concerns about your account, be sure to contact Putnam Bank. Our team of professionals is here to help if a problem of stolen information does arise!

 

It’s the Season to Save Money: Tax Deductions

While it might not be on your radar, now is the perfect time to start thinking about taxes. You may be thinking you just wrapped up the tax season, but April 15th will be here before you know it. The end of the year is the perfect time to make a few financially savvy moves to help trim down your tax bill.

While not all of the ideas below apply to everyone, they can help you fund your retirement account or even put you in a charitable mood.

Contribute the maximum to your retirement account(s) – If you have a tax-advantaged retirement account (meaning your contributions aren’t taxed), contributing the maximum lowers your taxable income, meaning you pay less on your tax bill. Even better? You’re helping contribute to your retirement savings fund!

Give to charity – As long as you have over $250 in costs directly related to helping a charity plus their acknowledgement (a receipt, statement, etc), you’re in good shape. Just be sure you also have the receipts from making all those meals or purchasing supplies. Remember, donations to individuals don’t count when claiming a charity deduction.

Job-hunting costs – If you were job hunting at all this last year (and have the receipts on hand), these costs can be deductible. Eligible expenses include transportation costs, food, lodging, employment agency fees, costs of printing resumes, business cards, etc.

Give to family or friends – This category is a two-for-one! Not only do you give the gift of money, but you reduce your tax burden. You can give up to $14,000 without having to file a gift-tax return, which lowers your taxable income, thereby reducing your tax bill.

Energy-saving home improvements – Made some energy-saving modifications to your home this year and have the documentation and receipts to prove it? You can claim a credit up to $500. While this isn’t a tax deduction, you can use the credit to help pay your tax bill if need be.

This list is just a start of tax deductions you can start planning for. For more information or questions, you’ll want to talk to your tax professional or Putnam Bank to help guide you. We hope this list provides you with a little inspiration to find some deductions this tax season!

 

Putnam Bank September 2017 Employee of the Month

Alyson Davis was named Putnam Bank’s Employee of the Month for September 2017. Alyson has been with the bank since October 2001, and is currently the CSR Supervisor at the Main Office in Putnam.

Alyson said, “I’m honored and grateful to receive this award. You’re only as good as the people around you and I’m fortunate to be part of a great team. While I appreciate the individual recognition, this could easily be a team award.”

Alyson is an avid runner and active in the community having participated in the Walk & Run for NECT Cancer Fund, Northeast Opportunities for Wellness, Inc 3.5ish Mile Road Race, and Quinebaug Valley Community College Foundation Tackle the Trail.  She lives in Putnam with her sons, Elijah and CJ.

“Aly is a highly competent, caring, and enthusiastic employee of Putnam Bank, and I’m not at all surprised that she received such glowing reviews from staff and customers alike. She excels in her position. She demonstrates excellent customer service and still finds the time to participate in community activities which is at the core of Putnam Bank’s mission.” stated Thomas Borner, Putnam Bank President & CEO.

PB Bancorp, Inc., headquartered in Putnam, Connecticut, is the parent of Putnam Bank, a state chartered stock savings bank founded in 1862. The Bank offers a wide range of financial services through its eight full-service offices. Putnam Bank also operates a full-service loan center in Putnam, Connecticut. The Bank’s deposits are insured by the Federal Deposit Insurance Corporation. PB Bancorp, Inc.’s common stock trades on the NASDAQ Capital Market under the symbol PBBI.

PB BANCORP, INC. ANNOUNCES INCREASED DIVIDEND

Thomas A. Borner, President and CEO of PB Bancorp, Inc., has announced that the Company’s Board of Directors has declared a quarterly cash dividend on the Company’s common stock of $0.05 per share. The dividend will be payable to all stockholders of record as of October 18, 2017, and is scheduled to be paid on November 1, 2017.

“We are pleased to announce this latest dividend payment for the Holding Company” said Mr. Borner. “We believe that providing a return to our stockholders is an important part of being a community bank.  We look forward to continuing to build our brand of community banking, a journey we embarked upon 155 years ago, and serving our mission of enhancing the quality of life in the communities we serve”.

PB Bancorp, Inc., headquartered in Putnam, Connecticut, is the parent of Putnam Bank, a state chartered stock savings bank founded in 1862. The Bank offers a wide range of financial services through its eight full-service offices. Putnam Bank also operates a full-service loan center in Putnam, Connecticut. The Bank’s deposits are insured by the Federal Deposit Insurance Corporation. PB Bancorp, Inc.’s common stock trades on the NASDAQ Capital Market under the symbol PBBI.

Four Ways to Raising Your Financial Game

Whether you’re a football fanatic who’s happy that your favorite team is finally back on the field or you can’t tell the difference between a quarterback and a punter, football can actually teach you a lot about managing your finances. Don’t believe us? Check out the Putnam Bank game plan that can help you get a financial win.

It’s Important to Win on Offense, Defense and Special Teams

Good teams need to play well in all three aspects to win games. In your finances, your offense is your income. If you think of dollars as yards, the more money you generate, the more secure you can be. If income is your offense, then spending is your defense. Coaches don’t want their defense to be on the field too long, so keeping the spending to a minimum is the best way to keep your finances in check. Your special teams are items like investing. You only need them a few times per game, but you need them to perform well when they’re on the field.

Defense Wins Games

If spending is your defense, controlling spending is the best way to ensure your defense is successful so you can get a financial win. Taking a defensive approach to your finances that controls spending and saves a little each and every month may not seem like the most exciting thing, but it will get you a win. Slow and steady saving can help you be successful for a long time.

Understand the Game Clock

The game clock can dictate how a team plays. At some times, you can be aggressive, while other times may call for a more conservative approach. Taking an aggressive approach, such as making a smart investment, can help you improve your financial situation quickly. However, a more conservative and steady saving approach can help you accrue wealth, too, it may just take a little longer.

Surround Yourself with Good Coaches

A good coach trusts others to develop players and game plans. There are a lot of financial experts that have a wealth of knowledge that you can take advantage of by providing a unique perspective, including right here at Putnam Bank. Trust these financial experts to use their experience to help you get a win.

Just as a good game plan can help your favorite team on the gridiron, it can help you with your finances. If you have any questions, contact Putnam Bank and we’d be happy to help you develop the right game plan.