Our Commercial Lending Department is actively working with local businesses to promote growth and economic development within the communities of Northern New York while providing our customers with a level of customer service unmatched in the local banking community.

The mission of the commercial lending staff is to provide a superior level of service through personalized banking programs for individuals, local businesses and professional practices. The credit and banking resources of Watertown Savings Bank help to assist our customers in the process of financial stability. We have found that, in particular, we can be of significant help to local businesses and professional practices. Watertown Savings Bank also offers some of the most competitive rates in the commercial lending industry. Our lending staff provides a very convenient resource to coordinate a variety of your banking needs, both personally and professionally. Many of the services that Watertown Savings Bank can provide to our customers are listed below:

• Commercial Mortgages
• Business Lines of Credit
• Letters of Credit
• Equipment Financing
• Business Debit and ATM Cards
• FREE Commercial Checking Accounts
• FREE Savings & MM Accounts
• Commercial Sweep Accounts
• Small Business Administration Loans

We would also like to take this opportunity to address the certain aspects of our institution that are often superior to our competitors. We feel that these items warrant careful consideration when selecting a lending institution to handle your total banking relationship in the years to come. A few of the more amicable aspects we would like to mention are as follows:

In-House Approval Process

Due to the structure of our local management team and Board of Trustees, the decision making process within the lending area is more convenient, efficient and expeditious than many of the larger banking institutions.

Total Banking Relationships

An additional benefit of maintaining your commercial loan relationship with Watertown Savings Bank is that our commercial lending department can also handle all of your personal borrowing needs. For example, our department can usually accommodate consumer loan requests within a 24-hour period. We realize that your time is scarce and valuable while operating a business, so we would attempt to handle your personal banking needs as quickly and as professionally as possible.

The Actual Structure of Our Construction Loans

The building and loan agreement that Watertown Savings Bank utilizes for construction loans is often less expensive and less cumbersome than our competitors. Our commitment letter completely details how Watertown Savings Bank will control the actual construction process. WSB operates through a “certified draw” program, which ultimately protects the interest of the borrower, as well as the Bank. It is also important to mention that this building and loan agreement only requires one closing whereas traditional construction loans offered by our competitors often times require a closing for the construction phase and a closing for the formally amortizing mortgage, which can lead to additional costs.

Depository Accounts

Watertown Savings Bank does not charge any monthly or annual fees for depository accounts. We feel that this is one of our biggest selling points to commercial customers as we have found that this service can often times save local businesses virtually hundreds of dollars in annual checking account fees and charges.

Economic Development Agencies

Watertown Savings Bank actively works with all of the economic development agencies in the Jefferson County area. These agencies include the Jefferson County Industrial Development Agency, the North Country Alliance, the Watertown Local Development Corp., the Development Authority for the North Country and the Small Business Administration. If there are any financing or tax relief programs currently offered that would be available to you to benefit your upcoming project, we will work as an intermediary in helping you to obtain access to these respective services.

Once again, we would appreciate your consideration of Watertown Savings Bank to service and address any banking needs that you may identify. The Commercial Lending Department is designed to handle the complete needs of Northern New York businesses and we are confident that we will do an outstanding job. Please feel free to contact us at (315) 788-7100 or loaninfo@watertownsavingsbank.com with any questions or concerns you may have and we hope to hear from you soon.