Federal Savings Bank Holds Annual Meeting; Director Retires

Federal Savings Bank held its annual meeting at the Bank’s main office in Dover on January 26, 2012.

During the meeting, the Board of Directors thanked Patricia Barbour for her service as 2011 Chairman and voted Edward Lemos, VMD as 2012 Chairman of the Board and M. Lou McGrew as Vice-Chairman. The Board of Directors also voted to elect M. Lou McGrew, Dana Lynch and Patricia Barbour for additional three-year terms. The Bank’s Board of Directors includes Edward Lemos, VMD, James Schulte, Dana C. Lynch, Richard Houghton, James Jalbert, Arthur Nickless, Robert Steele, Michael Bolduc, Lou McGrew, James J. O’Neill, Jr. and Patricia Barbour.

President and CEO, James J. O’Neill, Jr., Jr. thanked Peter Hamblett for his 17 years of service to Federal Savings Bank. Hamblett retired from the Bank’s Board of Directors at the end of December. “Pete led this institution through some of the most challenging economic times and navigated the waters of an unprecedented period of regulatory change. The Bank’s great success over the last couple decades is directly attributable to Pete’s knowledge and strong leadership,” said O’Neill. Pete was thanked for his service during a reception at the Three Chimneys Inn on January 25.

The Bank will be recognizing employees at its annual employee meeting taking place in February and looks forward to releasing the 2011 annual report in the first quarter.