EASTHAMPTON SAVINGS BANK ANNOUNCES FOURTH QUARTER RESULTS

From the EDC (Feb 8 2011)

1. For more information, contact:

   Easthampton Savings Bank

   William S. Hogan, Jr., President

   Phone: (413) 527-4111

    

   EASTHAMPTON, MA: William S. Hogan, Jr., President and CEO of Easthampton Savings Bank, reported to the directors at the quarterly meeting that the Bank experienced exceptional growth in assets, deposits, loans and capital in the fourth quarter. The bank’s total assets have grown to more than $886 million.  

    

   Richard W. Kozak, Senior Vice President and Treasurer, further reported, “The bank’s total assets increased more than $59 million over last year. That’s an increase of 7%.” He added, “Our capital ratio ended the year at 11.76%. We continue to be one of the best capitalized banks in the area.” 

    

   In a report from Denise V. Laizer, Senior Vice President & Chief Lending Officer, she noted, “1387 mortgage applications were processed over the course of 2010 for a total of $211 million. That’s the highest number of applications in the bank’s history. Total loans stand at over $587 million. 

    

   Thomas W. Brown, Senior Vice President – Retail Banking, reported on the bank’s unprecedented deposit growth, which was up almost $56 million for the year. “That’s an increase of 9%. Total deposits now stand at over $703 million,” Brown reported. 

    

   William S. Hogan, Jr., President, acknowledged the completion of another successful year and added, “2010 has been an outstanding year for our bank. I would like to thank the dedicated staff who delivers on our promise to be the best community bank. They are the ones who produce the truest measurement of our success.”

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