Georgetown Savings Bank News

Georgetown Bancorp, Inc. Reports Results for the Three Months and Year Ended December 31, 2011

01/31/2012

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Bank Employees Win Prize for "Wonderful Life" Tree

12/01/2011

For the first time Georgetown Savings Bank participated in the Methuen Festival of Trees which was held November 19 through December 3, 2011. The Festival of Trees is an annual tradition that raises funds to support historic preservation in the Merrimack Valley. The committee was led by Jeanette Carlevale and also included Kristin Davis, Jeff Salerno, Carol Patnaude, Marcia McIsaac, Linda Lamb, Wendy Girrior, Leonel Espinal and Mary Cintolo. The tree, "It's a Wonderful Life", took third place in the Best of Theme competition.

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KidsFirst Collects Food Items for Thanksgiving Baskets for the Lazarus House

11/25/2011

The 3rd annual KidsFirst Thanksgiving Fundraiser was a big success. Over 50 families were fed the Thanksgiving meal with all the fixings thanks to KidsFirst, customers and employees of Georgetown Savings Bank.

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Georgetown Bancorp, Inc. Reports Results for the Three and Nine Months Ended September 30, 2011

10/27/2011

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Georgetown Savings Bank Hosts DIGIKIDS Event

10/15/2011
DIGIKIDS is a Child ID Program that equips parents with a child identity kit that assists in a quick response if a child is missing. This event, held annually at Georgetown Savings Bank, was open to the community and was offered free of charge, compliments of Georgetown Savings Bank.
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Georgetown Savings Bank achieves 5–Star Excellent Rating

09/27/2011

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Georgetown Savings Bank Hires New Commercial Lending Officer

09/27/2011

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Georgetown Bancorp, Inc. Reports Results for the Six Months Ended June 30, 2011

07/26/2011

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Kathy Sachs walks for breast cancer

07/22/2011
Kathy Sachs, Georgetown Savings Bank Director, joined the Pink Angels Team for Susan G. Komen 3–day walk for the Cure which raises money for breast cancer research. The walk was held July 22, 23, and 24, 2011.
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Georgetown Bancorp, Inc. Reports Continued Positive Profitability Trends for the Three Months Ended March 31, 2011

04/22/2011

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Georgetown Savings Bank celebrates Red Sox opening day

04/08/2011

Phil Bryan, SVP/Chief Lending Officer, throws out the first pitch for Red Sox opening day celebration on April 8, 2011. Customers were treated to hot dogs, pretzels, popcorn and treats throughout the day.

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Georgetown Bancorp, Inc. Reports That Profitability More Than Doubles for the Six Months Ended December 31, 2010

02/11/2011

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KidsFirst Annual Christmas Fundraiser

12/23/2010
The KidsFirst Christmas fundraiser collected over 175 items to give to children currently living in a shelter. These children would not have a Christmas without the generosity of the employees and customers of Georgetown Savings Bank. KidsFirst is non–profit organization whose mission is to support programs which promote the social, emotional and educational development of children who are potentially at–risk due to a variety of reasons, particularly poverty and domestic violence. For this fundraiser, 40 children sent Santa their wish list. From this list, each of these are the items that were collected. Everything was wrapped and delivered to the Emmaeus House in Haverhill, Massachusetts where the children were surprised with their gifts.
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KidsFirst Annual Thanksgiving Fundraiser

11/20/2010
Employees and customers of Georgetown Savings Bank participated in the KidsFirst annual Thanksgiving fundraiser which collected food to feed over 50 Thanksgiving meals to families in need. KidsFirst is a non–profit organization whose mission is to support programs which promote the social, emotional and educational development of children who are potentially at–risk due to a variety of reasons, particulary poverty and domestic violence.
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Georgetown Bancorp, Inc. Reports That Profitability More Than Doubles for the Quarter Ended September 30, 2010

10/26/2010

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Georgetown Bancorp, Inc. Reports Increased Profitability for Year Ended June 30, 2010

09/07/2010

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Georgetown Bancorp, Inc. Reports Increased Profitability for Nine Months Ended March 31, 2010

04/29/2010

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Glenn Miller Orchestra Fundraiser to benefit NECC

04/28/2010

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Georgetown Savings Bank Achieves 4–Star Excellent Rating

04/22/2010

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Georgetown Bancorp, Inc. Reports Increased Profitability for Six Months Ended December 31, 2009

01/27/2010

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Georgetown Savings Bank Now Offering MassHousing's A Home for the Brave Mortgage Loan Program

01/19/2010

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Georgetown Bancorp, Inc. Reports Increased Profitability for Three Months Ended September 30, 2009

11/20/2009
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Georgetown Bancorp, Inc. Reports Profitable Results for Quarter Ended September 30, 2008

11/19/2008

GEORGETOWN, MASSACHUSETTS, October 24, 2008 – Georgetown Bancorp, Inc. (OTCBB: GTWN) (the “Company”), holding company for Georgetown Savings Bank (the “Bank”), reported net income for the three months ended September 30, 2008 of $12,000, or $.00 per basic and diluted share, compared to a net loss of $138,000 or $.05 per basic and diluted share for the three months ended September 30, 2007.

Robert E. Balletto, President and Chief Executive Officer, said, “I am pleased to report that the Company’s financial performance continued to improve, as we returned to profitability during our most recent quarter. I continue to remain encouraged by our successful execution of our strategic plan and the positive impact it has had on our financial performance. Our improved financial performance was driven by an expanding net interest margin, fueled by originations of higher–yielding commercial loans. Funding for these loans was entirely provided by increases in retail deposits, as our North Andover office achieved profitability during the quarter. I am further encouraged by the performance of our loan portfolio given the current economic environment, as our asset quality improved during the quarter. Additionally, the Company was never involved in the business of sub–prime lending and has no financial exposure to equity investments in Fannie Mae, Freddie Mac or any of the recently failed Wall Street investment banks. While we operate in a competitive and challenging market place, we remain optimistic about our ability to enhance shareholder value in the long–term.”

About Georgetown Savings Bank
Founded in 1868, Georgetown Savings Bank, with branches in Georgetown, MA, North Andover, MA and Rowley, MA, serves the financial needs of Essex County and southern New Hampshire residents and businesses. To learn more about Georgetown Savings Bank, visit www.georgetownsb.com or call 978–352–8600.

Forward–looking statements
This news release may contain certain forward–looking statements, such as statements of the Company’s or the Bank’s plans, objectives, expectations, estimates and intentions. Forward–looking statements may be identified by the use of words such as “expects,” “subject,” “believe,” “will,” “intends,” “will be” or “would.” These statements are subject to change based on various important factors (some of which are beyond the Company’s or the Bank’s control) and actual results may differ materially. Accordingly, readers should not place undue reliance on any forward–looking statements (which reflect management’s analysis of factors only as of the date of which they are given). These factors include general economic conditions, trends in interest rates, the ability of our borrowers to repay their loans, the ability of the Company or the Bank to effectively manage its growth, and results of regulatory examinations, among other factors. The foregoing list of important factors is not exclusive. Readers should carefully review the risk factors described in other documents the Company files from time to time with the Securities and Exchange Commission, including Current Reports on Form 8–K.

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Georgetown Savings Bank and the North Andover Foundation for Education announce new partnership to support local public schools

01/03/2007

Local community bank brings P.E.A.C.H. program to North Andover

GEORGETOWN, MASSACHUSETTS (January 3, 2007) – The Georgetown Savings Bank and the North Andover Foundation for Education announced today a new partnership to support local public schools against a backdrop of budget cuts, increasing class sizes, program eliminations, teacher layoffs and sagging morale.

The pair’s Partnership for Educational Assistance and Community Help (P.E.A.C.H.) is an innovative program designed to support area public schools. For each new personal or business checking account referral made by the foundation, Georgetown Savings Bank will make a $100 donation. “We have a goal of raising $500,000 in the next year to help put teachers back in the classroom,” said Sue Donato, President of the North Andover Foundation for Education. “By opening your account with Georgetown Savings Bank, you not only get a great account, but you also help us to reach our goal. It ‘s an absolute win/win.”

Georgetown Savings Bank considers itself an integral part of the North Andover community and is happy to serve its neighbors as one of the area’s few remaining local banks. In the past year, the bank has opened a new full–service branch at the Eaglewood Shops on Route 114 next to Staples.

“We consider ourselves neighbors and of course, neighbors help neighbors,” according to Joseph Pollard, Georgetown’s Senior Vice President of Retail Banking. “We believe that helping to educate our children is far more meaningful than giving away the latest electronic gadget. Gadgets last a year or two––education lasts a lifetime.”

The beauty of the P.E.A.C.H. program, according to Donato, is that it’s not a single fundraising event, but an ongoing process whereby the various constituencies within North Andover can get the word out. “The Bank has not put a cap on the amount that we can raise so quite frankly, the harder we work, the greater the reward,” she explained. “I envision parents organizing wine and cheese tasting events, cookie exchanges, luncheons, tea socials, etc. Third grade parents, soccer moms, alumni––any group can sponsor a P.E.A.C.H. informational event. The staff at the bank is willing to help out anywhere and at any time.”

From Georgetown’s perspective, the partnership signifies a major commitment—to the North Andover community and to education. “Public education in North Andover, as well as many other cities and towns, is at a real crossroads,” explained Robert E. Balletto, president and CEO of Georgetown Savings Bank. “We, as involved business partners, want to be at the forefront in helping to provide the necessary resources to educate all of our children.”

For further information about the P.E.A.C.H. program and how you and/or your community education foundation can get involved, please contact Joseph Pollard, Senior Vice President/Retail Banking of Georgetown Savings Bank at 1–978–352–8600 or Susan Donato, President of the North Andover Foundation for Education at www.northandoverfoundation.org.

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Georgetown Savings Bank makes sizable donation to the Georgetown Peabody Library's renovation project

11/03/2006

Georgetown, MA (November 3, 2006). Georgetown Savings Bank announced that it is donating $15,000 to the Georgetown Peabody Library to help jump start the library’s initiative to raise money in connection with its $4 million dollar renovation. The donation, which will be made over a period of three years, will go toward the purchase of a new circulation desk.

“We take great pride in the fact that for over one–hundred and thirty–eight years Georgetown Savings Bank has played an integral role in the growth and development of Georgetown and the surrounding communities,” said Bob Balletto, the CEO and President of Georgetown Savings Bank. “Whether it’s donating money, time, or talent, there is perhaps nothing more important than promoting literacy and education in our community. Donating money to the library renovation project was another great way for us to lend our support to a cause that we believe is vitally important.”

Built in 1904, the Georgetown Peabody Library is undergoing its first renovation since it opened its doors over 100 years ago. When completed, the renovation will more than triple the size of the existing 3,600 square foot structure. The 12,000 square feet of new space will be used to house existing books and to make room for new growth. The renovation is designed to renovate the library while maintaining the historic integrity of the existing structure and decor.

“This renovation and expansion of the Georgetown Peabody Library brings us closer to fulfilling our mission to provide materials for the educational, cultural and recreational needs of this community. I truly want to thank the Georgetown Savings Bank for making a commitment to this project. I hope that others will follow the lead of Georgetown Savings Bank as we make this renovation a reality,” said Ruth Eifert, Library Director Established in 1868, Georgetown Savings Bank is a federally chartered thrift bank. Headquartered in Georgetown, the bank has two additional full–service branches located in Rowley and North Andover, as well as an online banking presence at www.georgetownsb.com.

Georgetown Savings Bank is a member of the Federal Deposit Insurance Corporation (FDIC).

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