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A Message from our President / CEOOctober 1, 2021 - Statement regarding Proposed Federal IRS Reporting for BanksTo our Valued Customers and Friends: The Biden Administration is proposing a sweeping expansion of tax reporting information, that if enacted would require banks to report to the IRS detailed information on transactions above $600 for all customers. 1st Bank of Sea Isle City believes this proposal is extremely burdensome for both customers and financial institutions. We will follow developments closely and encourage customers to contact their lawmakers to oppose the proposal as we expect Congress is to vote on this new proposal in the near future. Regards, May 28, 2021 – Pandemic Information UpdateTo our Valued Customers and Friends: On behalf of our employees, officers and Board of Directors at 1st Bank, we thank you for your cooperation and loyalty during these challenging times over the past 14 months. As we continue to navigate this pandemic, we are pleased to reopen our branch lobbies for full service with face coverings optional. Sincerely, |
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