Penobscot Investment Management Company Inc.
About Penobscot Investment Management Company
CORPORATE PROFILE
Penobscot Investment Management Co., Inc. is registered with the Securities and Exchange Commission as required by the Investment Advisors Act of 1940.
INVESTMENT PHILOSOPHY
The securities in which we invest are typically issued by leading companies with substantial financial strength. Some of the characteristics of these companies are a history of steady revenue, earnings and dividend growth. Other measures of importance are low multiples of security price to book value and earnings. In addition, we seek companies with modest debt levels as well as above average profit margins and return on equity. Our goal for our clients, based on individual needs, is long-term capital appreciation and income growth in broadly diversified portfolios.
Our investment philosophy reflects careful consideration of risk in the financial markets as well as in individual securities. We view investing as a long-term process that rewards patience and consistency. We do not practice market-timing techniques, but we do believe that preserving capital is an important component of achieving long-term capital appreciation. We are primarily equity investors; however, during periods when we believe equities are over valued, we will place more emphasis on cash equivalents and fixed income securities in an effort to minimize exposure to market and security risks. We do not buy securities on margin, engage in short selling or trade options.
CLIENT RELATIONSHIPS
Portfolios are managed with careful consideration to each client's current financial requirements and future expectations. The financial objectives of present and potential clients are carefully reviewed so that we may be continually responsive to the requirements of each client. In addition, we are sensitive to the private nature of each client relationship.
Penobscot Investment Management Co., Inc. does not provide custody or brokerage services. Clients may select a custodian, bank or brokerage firm to hold their securities. We can assist in making these arrangements. Trades are executed through brokers selected according to commission rates, execution abilities and investment research. Clients are notified promptly of any changes made in their accounts.
Furthermore, clients are provided with a quarterly portfolio summary and an annual statement of gains and losses for their account.
We are the sole owners of Penobscot Investment Management Co., Inc.; therefore, we are responsible only to our clients.