Serving Customers for 25 Years

August 13, 2010 - Presidential Bank was established in 1985 by the founders of GIT Investment Funds of Arlington, Virginia. GIT had its origins in 1975 and operated a group of stock, bond and money market mutual funds. Today, Presidential remains a privately held, entrepreneurial organization.

The Grand Opening of our first branch (Bethesda) was August 13, 1985. This branch remains our main office. We have a total of nine branches throughout the metro DC area. Presidential's online branch was established on October 6, 1995, followed by Presidential becoming the first bank in the United States enabling customers to open accounts using the Internet.

Presidential operates with a philosophy of providing solid value and quality customer service. Over the years, our deposit rates have been consistently among the most attractive in the marketplace. We've been recognized by Bankrate.com, CNNfn.com, Wall Street Journal, MarketWatch.com, Time magazine, as well as many other news organizations. Additionally, our fees remain among the lowest of our peers. We also provide a Customer Service Center available during the week via 1-800-383-6266. This is a unique service for a bank of our size.

Presidential attempts to take advantage of market opportunities as they arise, even if opportunities require a departure from traditional ways of doing business. During the period from 1992 to 1997, Presidential fueled its growth and profitability by purchasing performing loans acquired from failed commercial banks and thrifts through the FDIC and the RTC. These purchases gave Presidential a higher yielding portfolio than its peers and a higher return on equity than any other bank in Presidential's home market of metropolitan Washington, DC. In 1997, Presidential was one of the earliest banks to offer internet banking services such as balance look-up, month-to-date account statements, and transfers between accounts. We also began offering a unique online archive of historical bank account statements. Software for this service was developed in-house and was awarded a patent in 2009. In more recent years, Presidential maintained its growth and market presence by marketing an integrated product line for both local and internet branches.

Presidential Bank is a Federal Savings Bank regulated by the U.S. Office of Thrift Supervision (OTS). Our deposits are insured by the Federal Deposit Insurance Corporation (FDIC).

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Third Time’s a Charm

January, 2010 - During the month of December, over 422 customers and guests attended one of four holiday receptions at branches throughout the Washington, DC metro area, making Presidential Bank’s third annual holiday reception season a rousing success. Customers and guests were greeted by executive officers Bruce Cleveland, President and CEO, or Dave Erickson, Executive Vice President and CFO, or other executive officers along with branch management and staff.

Started as a way to thank customers for their loyalty and celebrate the holiday season, Presidential’s annual receptions have grown in appeal and attendance each year. With a total attendance of 265 in 2007, 360 in 2008, and this year’s 422, facilities were full of holiday cheer, to say the least. During the receptions, Presidential’s officers and staff thanked customers for their loyalty. They also presented the traditional United States Mint Presidential $1 coin. Conversely, many customers offered tribute to the Bank’s customer service, product value, and principled management, especially during the economic challenges of the past several months.

By all accounts, Presidential’s third annual holiday reception season was a grand success.