Georgetown Savings Bank (the “Bank”), a wholly owned subsidiary of Georgetown Bancorp, Inc. (the “Company”) (OTCBB: GTWN), recently received BauerFinancial Inc.’s highest rating. To earn this rating the Bank must not only report impressive capital levels, but also an enviable loan portfolio with negligible levels of delinquent loans. BauerFinancial Inc. bestowed its highest 5-Star Superior rating on Georgetown Savings Bank denoting the highest level of strength and performance that a bank can receive. “Not only has Georgetown Savings Bank proven its efficacy yesterday and today, it is also primed for whatever tomorrow may bring,” observes Karen L. Dorway, president of BauerFinancial. “The past three years have put a considerable amount of pressure on our nation’s banks and we are pleased to see community banks, like Georgetown Savings Bank, still able to shine.”
Mr. Robert E. Balletto, President and CEO of Georgetown Savings Bank stated “We are pleased to receive this award in recognition of all of the hard work and efforts of the directors and employees and the successful implementation of our business plan. We remain focused on building long-term shareholder value.”
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.
About BauerFinancial, Inc.
BauerFinancial, Coral Gables, Florida, the nation’s leading independent bank and credit union rating and research firm, has been reporting on and analyzing the performance of U.S. banks and credit unions since 1983. No institution pays BauerFinancial to rate it, nor can any choose to be excluded. Consumers may obtain star-ratings by visiting www.bauerfinancial.com.
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.
Robert E. Balletto, 978-352-8600
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