Easthampton Savings Bank Holds Annual Meeting

Easthampton, MA: Easthampton Savings Bank held its annual meetings on Wednesday, April 20, 2011 at the Log Cabin Meeting House. President & CEO William S. Hogan, Jr., reported the completion of another outstanding quarter for the bank.

Bozena C. Dabek, Senior Vice President and CFO reported on the bank’s total assets, which were up more than $66 million from a year ago, an increase of 8%. She noted that the bank’s assets were over $893 million at the end of the first quarter. “Easthampton Savings Bank continues to be one of the best capitalized banks in the area, with a capital ratio of almost 12%,” she added.

In a report from Denise V. Laizer, Senior Vice President – Chief Lending Officer, she commented that the loan department continues to produce record numbers. “Loans now total over $601 million.” she said.

Thomas W. Brown, Senior Vice President – Retail Banking, noted that the bank’s deposit growth was over $64 million or 10% from this time last year. “Total deposits are now at $714 million.” Brown added.

Hogan added, “With all the negative economic news you see and hear today, Easthampton Savings Bank really stands out as a success story. That couldn’t happen without a strong board and dedicated staff.”

In other business conducted during the Annual meetings the following Board elections took place:

Corporators Elected for a 10 year term: Bozena C. Dabek, Richard W. Kozak and H. Michael Schaefer

Directors elected for a three year term:  Richard Abbott, William S. Hogan, Jr., Mark M. Klepacki, DMD, and Carol A. Perman.

 Audit Committee elected for a 1 year term: Stanley Paulauskas, Thomas Giles and Anthony Villani

Officers elected for a 1 year term:

President & Chief Executive Officer:                                    William S. Hogan, Jr.

Senior Vice President & Chief Operating Officer:                 Kenneth R. Bordewieck

Senior Vice President – Retail Banking:                                Thomas W. Brown

Senior Vice President - CFO & Treasurer:                             Bozena C. Dabek

Senior Vice President & Chief Lending Officer:                   Denise V. Laizer

Vice President – Commercial Lending:                                  James E. Forker

Vice President – Consumer/Residential Loans:                      Anthony Grimaldi

Vice President-Senior Branch Officer

             & Cash Management Officer :                                   William D. Judd, Jr.

Vice President – Financial Services:                                       Raymond E. Lacourse

Vice President – Retail Banking:                                            Nancy A. Lapointe

Vice President – Commercial Lending:                                  Maureen Mahar

Vice President – Compliance & CRA Officer:                      Michael J. Roy, Esquire

Vice President – Systems & Operations:                                Lynn Starr

Vice President – Senior Branch Officer:                                John Vassallo

Vice President – Human Resources:                                       Paula J. York

Clerk:                                                                                      Richard A. Perras

Hogan also announced the pending retirement of Anthony Grimaldi and Elizabeth Youmell, both long term employees of the bank.

Hogan concluded the meeting by thanking all of the board members for their commitment and dedication to Easthampton Savings Bank.