SOUTHRBIDGE, MA – May 7, 2007 – Southbridge Savings Bank held it’s 159th Annual Corporators Meeting on May 7, 2007, at Rom’s Restaurant in Sturbridge. In his remarks to Trustees, Corporators, Officers and employees in attendance, Southbridge Savings Bank President and CEO Philip Pettinelli presented his annual report.

The bank’s commitment to excellence was highlighted with mention of the newest members of the Southbridge Savings Bank family. Marc DiPietro, Donna M. Peters and Alan N. Sharpe were named Corportators. James Gennaro became the newest member of the Senior Management Team, assuming the responsibilities as Vice President – Commercial Lending and Services Officer.

As the new year welcomes new arrivals it also highlights the contributions of others who leave the bank. Albert Battista served the bank as a Corporator, Trustee and Audit Committee member. “Al was very committed and devoted a lot of time and energy to the bank,” Noted Mr. Pettinelli. Also thanked for their many years as Corporators were James Pioppi, Clem Desautels, Mary Ellen Tucker, and Peter Russell.

Continuing, as Corporators are Ronald H. Cooper, Sarah C. Hardy, John M. McGlone, Alan S. Peppel, Harvey A. Shanbaum, and Jeff M. Tasse. Continuing as Trustees for three years are Anthony M. Detarando, David P. Laliberte, Nerio W. Pioppi, Ronald J. Vairo and James H. Waddick, Re-elected as President for one year Philip Pettinelli. Re-elected as Executive Vice President for one year is Janet E. Garon. Re-elected as Vice Presidents for one year is Lora A. Baldracchi, Brian M. Chandley, Thomas E. Dufresne, Susan A. Gunnell, Susan A. Keough and Todd M. Tallman. Continuing as Clerk for one year is Judith W. McClurg.

Information on a new branch to be opened late in 2007 was announced.  The plans for the future North Oxford Branch at the intersection of Route 20 and Route 56 have been set in place and construction is expected to start this summer. Several projects were also completed during 2006.  Located on the Corner of West Boylston Street and Ruthven Ave. in Worcester a new building with 2700 square feet, a drive-up window, a Walk up ATM, Coffee Bar and LCD TV Monitor was completed. The bank also saw the closing of its first branch located in West Warren.

During the evening service awards were presented to long-term employees as a thanks for their ongoing contributions to the organization. Janet E. Garon received the award for 30 years of service.  Carol Trudeau, Brenda Alano, Suzanne Faille and Linda Mahlert received an award for 20 years of service. Michael Checkosky and Karen Santilli received awards for ten years of service. Krissy Lemke, Rebecca Millette, Donna Reynolds, Dianne Robo, Lynne Haney, and Melissa Drummond all received awards for five years of service to the institution.

Net Income for the year ended December 31, 2006 was $528,000.00. At December 31, 2006 the bank’s asset base had increase by over 24 million dollars to $429,600,000.00.

Since 1848, Southbridge Savings Bank has been providing products and services to the residents of Massachusetts. They offer twelve full service branches thought central and western Massachusetts, including seven in-store branches that are open extended hours seven days a week. For more information about Southbridge Savings Bank, call 800-939-9103 or visit them on the web at www.southbridgesavingsbank.com