Dear Burling Bank Clients –
We are pleased to announce that Burling Bancorp’s Shareholders and Board of Directors have accepted an unsolicited offer from LevelField Financial to purchase Burling Bank, subject to regulatory approval in approximately six to nine months. While the ownership structure will change, everything else will remain in place including the Bank’s leadership, staff, location, products, and services. Importantly, you will enjoy the same exceptional banking experience that the Burling team has worked hard to deliver to you for more than three decades.
As you know, the future of banking continues to rapidly evolve and we think it’s absolutely imperative that the Bank embraces innovation and emerging opportunities to remain relevant and provide value to our client base. By partnering with LevelField, we believe the combined entity secures our desire to provide the best of both worlds for Burling’s clients – reliable traditional banking alongside new products and services in emerging markets, including digital assets. It also presents an opportunity to embrace the growing trend that community banking is becoming less about geography and more about shared interests. You can learn more about this in the LevelField press release.
As the center of trust, we feel that a regulated bank can provide the necessary transparency and stability that is often missing in new marketplaces, including digital assets. Further, our long history in the financial exchange community provides a unique opportunity to take a leadership role and contribute needed industry knowledge and regulatory experience.
It’s been thirty-four years since David Goldberg founded Burling Bank as a boutique bank for the trading community. While much has changed since then, much remains the same: treat your clients well, reward your staff, embrace new opportunities, and always conduct yourself and your business with integrity.
On behalf of every member of the Burling team, we appreciate your continued confidence and look forward to a promising future together.
President & CEO