EASTHAMPTON SAVINGS BANK REPORTS SECOND QUARTER RESULTS

From the EDC (Jul 30 2010) Financial Services

1. FOR IMMEDIATE RELEASE

   July 28, 2010

    

   Easthampton Savings Bank

   William S. Hogan, Jr., President

   Phone (413) 527-4111

   EASTHAMPTON, MASS: Williams S. Hogan, Jr., President and CEO of Easthampton Savings Bank, reported to the Directors at the bank's quarterly meeting, held Wednesday July 21st, that the bank continued to experience steady growth this past quarter.

   Richard W. Zozak, Senior Vice President and Treasurer, further reported, "The bank's total assets increased $30 million from a year ago, that's an increase of over $5 milliion over last quarter.  Total assets now stand at over $832 million.  Our capital to asset ratio ended the quarter at 12%.  We continue to be one of the best capitalized banks in the area, which is the best measurement of the strength of a bank."

   Denise V. Laizer, Senior Vice President & Chief Lending Officer reported on the bank's loan portfolio.  Laizer reported, "The loan portfolio totaled over $591 million at the end of June."

   Thomas W. Brown, Senior Vice President - Retail Banking, reported: "The bank experienced a deposit gain of more than $27 million from a year ago.  That's a 4% increase since the end of June last year."

   Hogan concluded the meeting by highlighting the success of Easthampton Savings Bank during the first half of 2010 and added, "We are already looking forward to 2011 and the opportunities that will come with it."

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