The bank's commitment to excellence was highlighted with mention of the newest members of the Southbridge Savings Bank family. Brent Andersen, Susan M. Anger, Richard Ayers, Bryan Blanchard, Michael Bousquet, Jeffrey Brooks, Ronald Carlson, Joel R. Casaubon, Edward L. Colognesi, Cynthia L. Howard, Edward G. Keefe, Bonita J. Keefe-Layden, Harold A. Keller, Jr., John S. Looney, Bonnie B. Losavio, Joan Menard, Alexander M. Neidhardt, DDS, Peter Nikolla, John S. Roy and Dr. Arthur Russo were named Corporators at a special meeting held in January. Mark Azia 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. Basil "Bill" Michaeles served the bank as a Corporator, Trustee and Audit Committee member. "Bill was very committed and devoted a lot of time and energy to the bank," noted Mr. Pettinelli.

Continuing as Trustees for three years are Richard A. Bouvier, John Q. Colognesi, Judith W. McClurg, Robert B. Muenzberg, Jr., and Philip Pettinelli, 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 the new branch that opened late in 2007 was provided. Located on the Corner of Route 20 and 56 in North Oxford a new building with 2700 square feet, a drive-up window, a Walk up ATM, Coffee Bar and LCD TV Monitor was completed.

An update on the bank's newest product was also given. The Key Rewards Checking account, which pays higher than CD rates, Free Nationwide ATMs among other benefits, has proven very popular with customers.

During the evening service awards were presented to long-term employees as a thanks for their ongoing contributions to the organization. Philip Pettinelli received the award for 35 years of service. Lora Baldracchi received an award for 30 years of service. Kathleen Ferguson received an award for 15 years of service. Thomas Dufresne, James Pettinelli and Todd Tallman received awards for ten years of service. Cheryl Caouette, Nina Caplette, Ronald Cooper, Richard Cranshaw, Sarah Curtin, Tanya Figueroa, Sheri Faubert, Pamela Herbert, Alyssa Jacques, Paula Kelly, Jeremy Lewis, Karen Mellen, Janine Shown and Danyell Stevens all received awards for five years of service to the institution.

Net Income for the year ended December 31, 2007 was $925,000.00. At December 31, 2007 the bank's asset base had increased by 4 million dollars to $433,600,000.00.

Since 1848, Southbridge Savings Bank has been providing products and services to the residents of Massachusetts. They offer thirteen full service branches throughout 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