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Georgetown Savings Bank Hires New Commercial Lending Officer

^{Published on 2011-09-21 11:13:03 - Market Wire}
 

GEORGETOWN, Mass.--([ BUSINESS WIRE ])--Georgetown Savings Bank (the aBanka), a wholly owned subsidiary of Georgetown Bancorp, Inc. (the aCompanya) (OTCBB: GTWN), recently named Fred Weissman to the position of Vice President/Senior Commercial Loan Officer. In his new position, Weissman will assume responsibility for managing the Banka™s full range of commercial lending services.

"I am extremely pleased to announce the addition of Fred to our management team. With his extensive background in business and community banking, including extensive expertise in commercial lending, he will be an exceptional resource for the Bank and itsa™ customers."

Weissman was most recently employed with Pentucket Bank, headquartered in Haverhill, MA. In his role as SVP and Market Manager, he was responsible for the Commercial Lending Group in the New Hampshire market. Prior to Pentucket, Fred was the Co-Owner of First Amherst Financial Group for several years.

Mr. Robert E. Balletto, President and CEO of Georgetown Savings Bank stated, aI am extremely pleased to announce the addition of Fred to our management team. With his extensive background in business and community banking, including extensive expertise in commercial lending, he will be an exceptional resource for the Bank and itsa™ customers.a

Weissman holds a Masters of Business Administration degree from Rochester Institute of Technology.

About Georgetown Bancorp, Inc.

Georgetown Bancorp, Inc. is the holding company for Georgetown Savings Bank. Georgetown Savings Bank, with branch offices in Georgetown, North Andover and Rowley, Massachusetts, is committed to making a positive difference in the communities we serve. We strive to deliver exceptional personal service at all times and to help each of our customers achieve their unique financial goals through a competitive array of commercial and consumer banking services. 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 Companya™s or the Banka™s plans, objectives, expectations, estimates and intentions. Forward-looking statements may be identified by the use of words such as aexpects,a asubject,a abelieve,a awill,a aintends,a awill bea or awould.a These statements are subject to change based on various important factors (some of which are beyond the Companya™s or the Banka™s control) and actual results may differ materially. Accordingly, readers should not place undue reliance on any forward-looking statements (which reflect managementa™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.