Federal Savings Bank Holds Annual Meeting

Dover - Federal Savings Bank held its annual meeting at the Bank’s main office in Dover on January 28, 2011.

During the meeting, the Board of Directors thanked James Schulte for his service as 2010 Chairman and voted Patricia Barbour as 2011 Chairman of the Board and Edward Lemos, VMD as Vice-Chairman. The Board of Directors also voted to elect Arthur Nickless, James Schulte and James Jalbert for additional three-year terms and Robert Steele and Richard Houghton for additional two-year terms. The Bank’s Board of Directors includes Edward Lemos, VMD, James Schulte, Peter Hamblett, Dana C. Lynch, Richard Houghton, James Jalbert, Arthur Nickless, Robert Steele, Lou McGrew, James J. O’Neill, Jr. and Patricia Barbour.

President and CEO, James J. O’Neill, Jr., Jr. thanked the directors for leading Federal Savings Bank through challenging economic times that included unprecedented regulatory changes. “Despite the challenges we’ve faced, 2010 was a very successful year with substantial asset, income and deposit growth,” stated O’Neill. “Combined with our increased support of community initiatives, I couldn’t be more pleased with the results of this past year,” he added.

The Bank will be recognizing its employees at the annual employee meeting taking place in February and looks forward to releasing their 2010 annual report in the first quarter of this year.

Since 1890, Federal Savings Bank has operated as a true community bank, a “mutual” bank. The bank has offices in Dover, Barrington, Durham, Portsmouth and Rochester. For more information, call 1-800-426-2265, visit www.fsbdover.com or www.facebook.com/FederalSavingsBank.