Easthampton Savings Bank holds Annual Meeting

EASTHAMPTON – Easthampton Savings Bank held its annual meeting on Wednesday, April 21, 2010 at the Log Cabin Meeting House. President William S. Hogan, Jr., reported that the bank’s assets were over $827 million at the end of the first quarter.
Richard W. Kozak, Senior Vice President and Treasurer reported on the bank’s total assets, which were up more than $30 million from a year ago, an increase of 4%.” Kozak noted. “Easthampton Savings Bank continues to be one of the best capitalized banks in the area, with a capital ratio of almost 12%,” he 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 $591 million.” she said. Laizer also reported that when Bankers & Tradesman recently announced the top three lenders in Hampshire County, Easthampton Savings Bank was first in mortgage market share in Hampshire County.
Thomas W. Brown, Senior Vice President – Retail Banking, noted that the bank’s deposit growth was almost $30 million or 5% from this time last year. “Total deposits are now almost $650 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 Corporators meeting the following Board elections took place:
Corporators Re-Elected for a 10 year term: David Boyle
Trustees Re-Elected for 3 year terms: Kenneth S.Cernak, Peter DeGrandpre, James G. Hayden, DVM and Stanley Paulauskas
Audit Committee elected for a 1 year term: Stanley Paulauskas, Thomas Giles and Anthony Villani
President and Vice Presidents re-elected for a 1 year term:
President & Chief Executive Officer: William S. Hogan, Jr.
Senior Vice President & Senior Operating Officer: Kenneth R. Bordewieck
Senior Vice President – Retail Banking: Thomas W. Brown
Senior Vice President & Treasurer: Richard W. Kozak
Senior Vice President & Chief Lending Officer: Denise V. Laizer
Vice President -
Consumer/Residential Loans: Anthony Grimaldi
Vice President – Financial Services: Raymond E. Lacourse
Vice President – Retail Banking: Nancy A. Lapointe
Vice President – Systems & Operations: Lynn Starr
Vice President – Senior Branch Officer: John Vassallo
Clerk of the Corporation: Richard A. Perras.
Hogan also announced Bob Foote’s retirement from the board after 3 years of service. He was elected to the Board of Corporators in 2007, and was helpful in supporting the formation of the Mutual Holding Company.
Hogan concluded the meeting by thanking all of the board members for their commitment and dedication to Easthampton Savings Bank.