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Bristol County Savings Bank reports continued growth at Annual Meeting.

DATELINE: TAUNTON, MA…
At Bristol County Savings Bank’s recent Annual Meeting Bank President E. Dennis Kelly, Jr. noted that fiscal year 2008 was another challenging, but successful year. Beacon Bancorp and it’s subsidiary, Bristol County Savings Bank closed the year with $10.5 million in operating income before security transactions and taxes. This was a 26% increase over the previous year, ending the year with the Bank’s total assets at $1.1 billion, an increase of 2.0%. One of the highlights of the past year was the acquisition of a substantial interest in the Farrell Backlund Insurance Agency, LLC, one of the region’s largest property and casualty insurance agencies.

Kelly stated, “Despite the fact that negative issues seemed to dominate the banking news, 2008 was another good year for Bristol County Savings Bank, with increased operating earnings, after additional investments in people and infrastructure.” Bristol County Savings Bank’s retained earnings closed the year at $158.3 million or 13.7% of assets, a key measurement of the Bank’s continued success. The Bank’s strong capital position ranks Bristol County Savings in the top 10% for banks with $1 billion or more in assets on the state and federal level.

Bristol County Savings Bank Board of Directors
Dennis Cody, Chairman of the Board, noted changes to the Bank’s Corporators with the retirement of Clifford Bodge and Paul Scanlon. “We thank them for their contributions to the Bank over the years,” said Cody.

The following new Corporators were elected:
In the Bank’s Dartmouth, MA market three new Corporators were elected: Jean M. MacCormack, Chancellor, University of Massachusetts Dartmouth; Kirk Franklin, President, Frank Corporation Environmental Services of New Bedford; and Kara Johnston, Vice President of Fall River Electrical Associates Co., Inc., Fall River. In the Bank’s Taunton/Raynham market two new Corporators were elected: Russel F. Martorana, President, Farrell Backlund Insurance Agency LLC, Raynham; and Attorney Jeanne Quinn, Partner of Silvia & Quinn, PC, Raynham. David A. Strauss, President of Key Container Corporation in Pawtucket was elected a Corporator. in the Bank’s Pawtucket, Rhode Island market.

Anawon Trust
Paul Tucker, President of Anawon Trust, a division of Bristol County Savings Bank, reported that 2008 was a challenging year. Despite the erosion in the value of equity and fixed income securities, assets under management closed at the end of the year at $173.7 million.

Bristol County Savings Charitable Foundation
2008 marked the 12th year of operation for the Bristol County Savings Charitable Foundation, which was established as part of the Bank’s 150th anniversary celebrations back in 1996. During 2008 the number of requests for assistance continued to increase and the Foundation was able to respond with a record $767,834 in total funding, assisting 115 different local organizations located throughout the Bank’s service area.

Bristol County Savings Bank
Bristol County Savings Bank is a full service financial institution offering commercial lending, personal and business banking, and mortgage services. The key words at Bristol County Savings Bank are: “Commitment, Stability, and Community,” values that are combined with state-of-the-art technology to meet the needs of its customers. A dedicated local community bank for over
162 years, Bristol County Savings Bank is actively involved in giving back to all the communities it serves both through financial support and the volunteerism of its people.

Founded in 1846, Bristol County Savings has $1.1 billion in assets. With the addition of Farrell Backlund Insurance, the Bank now has over 300 employees in Southeastern MA and RI. The Bank’s 10 full service banking offices are located in: Taunton, MA (2); Raynham, MA (2); Rehoboth, MA; Attleboro, MA; North Attleborough, MA; Franklin, MA; Dartmouth, MA; and Pawtucket, RI as well as a loan production office in Fall River, MA; and two Educational Branch Offices at Taunton High School and Attleboro High School.

The Main Office and Corporate headquarters of Bristol County Savings Bank are located on Broadway in Taunton, MA. For additional information please call 508-824-6626, or visit www.bristolcountysavings.com.

Bristol County Savings Bank reports continued growth at Annual Meeting.Read More

Bristol County Savings Bank announces establishment of new Government Finance Department.

DATELINE: TAUNTON, MA…
Bristol County Savings Bank recently announced the establishment of a new Government Finance Department, based out of the Bank’s Taunton, MA headquarters, which is dedicated to helping Southeastern Massachusetts cities and towns meet their financial goals.

In announcing the formation of this new division of the Bank, Patrick J. Murray, Jr., Executive Vice-President/COO/Treasurer of Bristol County Savings Bank stated, “The Government Finance Department will provide a critical service to municipal officers in the communities served by Bristol County Savings. Over the years we have developed strong relationships with many towns and municipalities. The creation of this department will enhance our existing relationships by expanding product offerings and streamlining the delivery of Bank services, while offering an attractive alternative for cities and towns that have not yet established a relationship with Bristol County Savings Bank.”

The Government Finance Department of Bristol County Savings Bank will provide a dedicated central resource, offering a diversified array of cash management options for towns and municipalities in Bristol, Plymouth, and Norfolk counties, underlining the Bank’s ongoing commitment to provide optimal service to local communities. Online banking will be available, and product offerings will include municipal checking, money market accounts and certificates of deposit, as well as additional cash management vehicles.

Jean C. Purrier, a specialist in municipal banking, will oversee the Government Finance Department, which will offer focused customer service provided by staff familiar with the banking needs of cities and towns. Bristol County Savings Bank’s strong financials may also offer added appeal for municipal investors, as the Bank’s capital position as a percentage of total assets is currently at 13.92%.

In addition, Bristol County Savings Bank is a member of the Depositors Insurance Fund (DIF), as well as a member of the Federal Deposit Insurance Corporation (FDIC). The DIF is a private, industry-sponsored insurance fund that insures all deposits above Federal Deposit Insurance Corporation (FDIC) limits at Massachusetts-chartered savings banks. The combination of FDIC and DIF insurance provides customers of Massachusetts-chartered savings banks with full deposit insurance on all their deposit accounts, providing an additional degree of security for towns and municipalities that are Bristol County Savings Bank depositors.

Bristol County Savings Bank
Bristol County Savings Bank is a full service financial institution offering commercial lending, personal and business banking, and mortgage services. The key words at Bristol County Savings Bank are: “Commitment, Stability, and Community,” values that are combined with state-of-the-art technology to meet the needs of its customers. A dedicated local community bank for over
160 years, Bristol County Savings Bank is actively involved in giving back to all the communities it serves both through financial support and the volunteerism of its people.

Founded in 1846, Bristol County Savings has $1.1 billion in assets, with 245 employees in Southeastern MA and RI. The Bank has 10 full service banking offices located in: Taunton, MA (2); Raynham, MA (2); Rehoboth, MA; Attleboro, MA; North Attleborough, MA; Franklin, MA; Dartmouth, MA; and Pawtucket, RI; two loan production offices located in Taunton and Fall River, MA; and two Educational Branch Offices located at Taunton High School and Attleboro High School.

The Main Office and Corporate headquarters of Bristol County Savings Bank are located on Broadway in Taunton, MA. For additional information please call 508-824-6626, or visit www.bristolcountysavings.com.

Bristol County Savings Bank announces establishment of new Government Finance Department.Read More

Robert Skurka joins Bristol County Savings Bank as a Vice President of Commercial Lending.

Bristol County Savings Bank recently announced the appointment of Robert Skurka as a Vice President of Commercial Lending, based out of the bank’s Pawtucket, RI office. Bristol County Savings Bank is a $1.1 billion mutual savings bank founded in 1846 and headquartered in Taunton, MA, with 10 offices in Eastern Massachusetts and Rhode Island.

In his new position at Bristol County Savings Bank, Skurka will serve the banking and financing needs of businesses in Rhode Island and Southeastern Massachusetts. Skurka has over 25 years of commercial lending and real estate lending experience and was previously a Senior Vice President and Relationship Manager at Webster Bank and Director of Business Banking at First Federal Savings Bank of America (FIRSTFED).

A graduate of the University of Rhode Island with a B.A. in Economics, Skurka received his MBA in Management from Bryant University. Skurka is also a Retired Captain of the U.S. Army Reserve, where he served as Finance and Personnel Officer in the 443rd Civil Affairs Company in Warwick, RI.

In addition, Skurka, is a member of the Turnaround Management Association and Past President and Board Member of the Risk Management Association.

Skurka, a native of Coventry, RI, currently resides in Seekonk, MA.

Bristol County Savings Bank
Bristol County Savings Bank is a full service financial institution offering commercial lending, personal and business banking, and mortgage services. The key words at Bristol County Savings Bank are: “Commitment, Stability, and Community,” values that are combined with state-of-the-art technology to meet the needs of its customers. A dedicated local community bank for over
160 years, Bristol County Savings Bank is actively involved in giving back to all the communities it serves both through financial support and the volunteerism of its people.

Founded in 1846, Bristol County Savings has $1.1 billion in assets, with 244 employees in Southeastern MA and RI. The Bank has 10 full service banking offices located in: Taunton, MA (2); Raynham, MA (2); Rehoboth, MA; Attleboro, MA; North Attleborough, MA; Franklin, MA; Dartmouth, MA; and Pawtucket, RI; two loan production offices located in Taunton and Fall River, MA; and two Educational Branch Offices located at Taunton High School and Attleboro High School.

The Main Office and Corporate headquarters of Bristol County Savings Bank are located on Broadway in Taunton, MA. For additional information please call 508-824-6626, or visit www.bristolcountysavings.com.

Robert Skurka joins Bristol County Savings Bank as a Vice President of Commercial Lending.Read More