Question 1

What is Jeff Bank?

Accepted Answer

Jeff Bank is a community-focused financial institution serving Sullivan and Orange Counties in New York State. Headquartered in Jeffersonville, the bank operates 10 domestic branches with approximately $671 million in total assets and $571 million in deposits. As a state-chartered FDIC-insured institution, Jeff Bank emphasizes local decision-making and personalized banking relationships.

The bank operates as a subsidiary of Jeffersonville Bancorp and employs 79 people. With a return on assets of 1.88% and return on equity of 14.57%, Jeff Bank maintains solid financial performance while serving individuals, small businesses, and local municipal governments throughout the region.

Question 2

When was Jeff Bank founded?

Accepted Answer

Jeff Bank was originally established on October 1, 1913, as The First National Bank of Jeffersonville. The bank's charter dates back over 110 years, making it one of the longest-operating financial institutions in Sullivan County.

Throughout the 20th century, the bank weathered significant economic challenges including the decline of the resort industry in the 1920s, the Great Depression, and World War II. While many small community banks in the region were acquired or merged during the banking consolidation wave of the 1960s through 1980s, First National Bank of Jeffersonville remained independent as the region's lone true community bank.

The bank began using the name "Jeff Bank" informally around 2008 and officially adopted this name on December 21, 2012. On the same date, the institution withdrew from membership in the Federal Reserve System and converted from a national charter to a New York State charter, becoming supervised by the FDIC.

Question 3

Where is Jeff Bank headquartered?

Accepted Answer

Jeff Bank is headquartered in Jeffersonville, New York. The main office is located at 4864 State Route 52, Jeffersonville, NY 12748.

The bank relocated to this location on June 2, 2010, from its previous Main Street location in Jeffersonville. Jeffersonville is a small community in Sullivan County in the Catskills region of upstate New York.

Question 4

Where does Jeff Bank operate?

Accepted Answer

Jeff Bank operates throughout Sullivan County and portions of Orange County in New York State with 10 branch locations. All offices are domestic branches concentrated in the Catskills region.

This geographic focus allows Jeff Bank to maintain deep roots in the communities it serves, particularly in areas historically associated with tourism and agriculture. The bank's coverage area includes rural and small-town markets across the region.

Question 5

What services does Jeff Bank offer?

Accepted Answer

Jeff Bank offers comprehensive personal and business banking services tailored to local needs. Personal banking products include checking accounts, money market accounts, savings accounts, individual retirement accounts (IRAs), NOW accounts, and various deposit options.

Lending services include residential mortgages, home equity loans, construction loans, home improvement financing, debt consolidation, consumer installment loans, and auto/RV/motorcycle/boat financing. The bank also provides credit cards and consumer lines of credit.

For businesses, Jeff Bank offers commercial checking and deposit services, commercial mortgages, farmland financing, agricultural loans, commercial and industrial loans, commercial real estate financing, equipment financing, and commercial lines of credit. The bank also serves local municipal governments with specialized banking services.

Digital banking capabilities include online banking, mobile banking, e-statements, bill pay services, mobile check deposit, and wire transfer services. The bank also offers safe deposit boxes, teller checks, and other traditional banking conveniences. Jeff Bank prides itself on combining modern technology with old-fashioned personal service.

Question 6

What makes Jeff Bank unique?

Accepted Answer

Jeff Bank distinguishes itself through its specialization in agricultural lending, which is rare among community banks in the region. Executive Vice President and Chief Lending Officer Tatiana (Tanya) Hahn is herself a farmer, operating Hilly Acres Farm, which gives the bank unique expertise in understanding the financial needs and challenges of agricultural businesses.

The bank serves as the primary agricultural lender in Sullivan County and has partnered with organizations like the Hudson Valley Agribusiness Development Corporation (HVADC), USDA/FSA, Catskill Mountain Keepers, and serves on the board of the Rural Economic Area Partnership (REAP). Jeff Bank played a crucial role in supporting local dairy farmers who lost contracts, helping facilitate the creation of Ma & Pa Creamery LLC and securing grants for displaced farmers.

As the last remaining independent community bank in Sullivan County after decades of consolidation, Jeff Bank maintains true local ownership and control. The bank's commitment to "thinking outside the box" and stepping up to help neighbors in ways that go beyond traditional banking demonstrates its deep community integration and flexible approach to serving local needs.

Question 7

What type of financial institution is Jeff Bank?

Accepted Answer

Jeff Bank is a state-chartered commercial bank that is not a member of the Federal Reserve System. It operates under New York State banking regulations and is supervised by the Federal Deposit Insurance Corporation (FDIC) under certificate number 7123.

The bank converted from a national charter to a state charter on December 21, 2012, simultaneously withdrawing from the Federal Reserve System and changing its primary regulatory agency to the FDIC. As a community bank operating as a subsidiary of Jeffersonville Bancorp, Jeff Bank maintains the flexibility and local focus characteristic of independent community institutions while ensuring full regulatory compliance and FDIC deposit insurance protection for customers.

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