President’s Letter

2023 President’s Letter

As we continue to emerge from the global health crisis and navigate through its aftereffects, both in our national and local economy, the resolve at URSB is stronger than ever. In preparing to charge forward, it is important to take stock in how we fared this past year, along with the good works we were able to achieve for the benefit of our community, which we are so fortunate to be a member of. 

Small businesses were hit hard by the pandemic and continue to face challenges in finding some sense of stability in the “new normal.”  Through SBA-funded loans and other programs such as the Small Business Recovery Grant Program, URSB helped play a pivotal role in securing $35 million in vital funds for small businesses to offset revenue losses as a direct result of COVID-19 related factors. 

Our charitable and community development efforts also sought to make a direct impact for a number of organizations and businesses.  These charitable efforts totaled over $60,000, and our continued commitment to the local community and the arts was cemented with a $1,000,000 donation to the Carteret Performing Arts & Events Center. 

URSB’s Board’s and management’s belief in our community is further reflected in our plans for the future. We have committed to a growth strategy that will allow URSB to meet and exceed the expectations our customers have come to expect via customized offerings and new digital products and services. We believe these initiatives can, and will, truly make a difference and we are excited to introduce them to our customers and the community. 

To put it plainly – we are healthy, progressive and are poised to grow. I can promise our existing customers, and those considering URSB, that we will continue to maintain our presence in the community, to hear first-hand what we can do to actively respond to the market and adjust our solutions accordingly. 

Personal, professional, and purposeful banking. These are the foundational elements that help make URSB the bank of choice in Carteret and our surrounding communities. 


Kenneth R. Totten

Chairman, President & CEO