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We were founded on two service principles upon which we continue to uphold:

Always listen to the needs of our customers, and keep the banking process as simple as possible

William F Easterlin

Meet Our CEO

William F. Easterlin, III President & CEO

“It is our responsibility to be responsive to business and individual banking needs in a way that values the relationships that we've developed over the past century.”

A great deal has happened since Queensborough National Bank & Trust was founded in 1902 as First National Bank of Louisiville in Louisville, Georgia. Our promise then was “great service and uncomplicated banking”. Over a century later, those values still hold. We’ve changed our name but never our promise. We were ahead of our time then and we are still a bank ahead of our time today. Our footprint stretches from Augusta to Savannah with 26 locations and potential for growth in the near future. Our President & CEO, Bill Easterlin, is a 4th generation CEO that takes great pride in preserving the bank’s history and founding core values. As a community bank, we offer all of the essential products and services you will find from larger banks including smartphone banking and a full array of on-line deposit capabilities. We take pride in our technology. But, the biggest difference is our attitude of service toward our customers at every level. We value relationships. We work for our customers and appreciate them. As automated as banking has become, we know that it is still a “people” business. We are Queensborough - Georgia’s Community Bank since 1902.


Meet the leaders on our Board of Directors and our Executive Management team.

William F. Easterlin, III

President, CEO

D. Phil Polhill, CPA

Chief Financial Officer

Richard H. Peacock

Chief Credit Officer

William R. Thompson

Chief Loan Officer

Kimberly S. Kirk

Chief Operations Officer

Sheryl R. Reed, SPHR, SHRM-SCP

Chief Human Resource Officer

Julie W. Evans

Corporate Secretary

Louisa Abbot

Board Member

J. Thomas Battle

Board Member

L.J. Bowles, III

Board Member

Gretchen B. Caughman, PhD

Board Member

Clare Easterlin, SPHR, SHRM-CP

Board Member

W. Abbot Easterlin, PA-C

Board Member

Thomas W. Jones, CPA

Board Member

Charles Troy Jordan

Board Member

Charles E. Smith, Jr.

Board Member

Paul G. Trotter, DDS

Board Member

Jermaine Whirl, EdD

Board Member




Stockholder Letter

As reported to you in my dividend letter in January of this year, 2021 was a very good year for The Queensborough Company. We continued our remarkable organic growth with assets increasing by 24% year over year to $2,072,325. Over the last two years Queensborough has grown from $1.2 billion to over $2.0 billion in total assets or 69% in two years. To put that $800 million growth into perspective, our average branch is about $50 million in assets. Thus, we grew the equivalent of 15-16 branches without the expense of new buildings, personnel or overhead costs. For another view, of the roughly 150 banks in the state of Georgia approximately 120 banks are less than $800 million. It is not unusual for a community bank like Queensborough to grow rapidly through mergers or acquisitions, but organic growth like this rarely occurs and is a testament to the dedication and commitment of all of our bankers.


The quick increase in our balance sheet starts with new deposit customers. Our loan customers and outstanding balances, however, have not grown as rapidly as the deposits. And I see that as a good thing. One of the axioms in community banking is that rapid loan growth often leads to unforeseen risks in the loan portfolio. Being wary of potential risks keeps our loans growing at a very modest pace and keeps our risks transparent and manageable. In fact, our loan balances barely changed at all during the year as many of the Paycheck Protection Plan (PPP) loans from last year were repaid.


Earnings for the year, driven by very good credit experience and lower pandemic related costs, increased by more than 50% to $18,948,000. Also, a good portion of the increase in earnings came from large scale mortgage refinancing, which we expect to dissipate in 2022 as this activity will no doubt be negatively affected by the increasing interest rates.


The remaining months of 2022 will bring about more interest rate increases and more uncertainties in our local economy and in the world at large. Hopefully leaders at home and abroad can avoid a wide-scale war in Europe and we can keep the US economy chugging along. Rest assured that no matter the course of events, your management team will be diligent in controlling risks while pushing the bank forward.


As always I am happy to discuss any questions or thoughts you may have about banking in general or The Queensborough Company specifically.


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Financials at a Glance

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