FOR IMMEDIATE RELEASE : July 1, 2012
Hometown Bank Opening New Auburn Branch
Oxford , MA – Hometown Bank has received the required regulatory approvals to open a new branch office at 569 Southbridge Street , in Auburn , MA . The 3000 square foot brick building, part of the Heritage Mall complex, will be Hometown's sixth location.
The new office, a full service branch offering personal and business banking, is being targeted for a September opening and will employ 5-7 people but staffing arrangements are still incomplete.
Hometown Bank originated in Webster , MA as Webster Cooperative Bank in 1889 and operated at that location for 100 years. The name was changed to Hometown Bank in the mid-1990s, and by 2001, new branch offices were added in Oxford and Sturbridge. In 2011, new branches were added in Athol and South Lancaster when Athol-Clinton Cooperative Bank merged into Hometown Bank, bringing the total number to five. A new Webster branch is also now under construction, with an estimated completion date in early 2013.
At a recent annual meeting, President and CEO, Matthew Sosik reported on the Bank's financial performance for the fiscal year ending December 31, 2011. Total assets of the Bank grew to over $302 million, a growth rate of 36%, most of which resulted from the acquisition of Athol-Clinton Cooperative Bank in the second quarter. Net Income for 2011 was $3.7 million.
“Earnings for 2011 were a new record for the Bank,” according to Sosik, “the result of a tremendous amount of hard work by our employees and the good relationships we have built with our customers. We are looking forward to delivering that same quality of customer care at our new Auburn branch.”
Perennially listed as one of the safest and highest performing banks in the Commonwealth and in the country, Hometown Bank is a member of FDIC and SIF. All deposits are insured in full.