Chelsea Groton Bank Presented 2012 Financial Results And Discussed Future Initiatives at Annual Meeting

GROTON, Conn. (April 26, 2013) – On April 25, 2013, Chelsea Groton Bank officers, Board members and Corporators met at Mystic Marriott in Groton, Conn., to review the bank’s fiscal 2012 financial results. Attendees also toasted Chelsea Groton’s nearly 159-year history and shared a vision for future growth, enhanced wellbeing for business and retail customers, and continued opportunities to create meaningful change within the bank’s Southeastern Connecticut and Southern Rhode Island communities. Net income for 2012 was $4.1 million, compared to $3.1 million in 2011. “Fiscal 2012 was a stellar year in Chelsea Groton Bank’s long history, with net income up 29% and new loans up 47% compared to 2011,” remarked President and CEO Michael Rauh. “Through this activity, we helped businesses expand and have confidence in their strategies and prospects, and helped first-time homebuyers and existing homeowners save precious thousands for other needs. When you think about the rippling economic effect within our communities, the positive results are thrilling.” Deposits grew 6% and assets under management jumped 12%. “Translated,” continued Rauh, “these numbers mean people saved more money to meet obligations, prepare for college and buy new homes, and strengthened their future financial security.” Rauh attributes Chelsea Groton’s continued success and top ratings among all U.S. banks to the emphasis placed on its mutual philosophy of shared trust, purpose and respect. “Customer needs and aspirations, both small and large, are met with attentive enthusiasm as well as top-flight bank products and services,” he said. “Moreover, employees are encouraged and empowered to do what’s right for everyone they connect with and given ample opportunity to learn, grow and enhance their careers. When you add in bank-wide, steadfast desire to make a difference in our communities—through annual giving to 200-plus organizations, extensive free financial education programs and other voluntary support—it’s a powerful blend to create lasting change that benefits everyone.” At the annual meeting bank officials also announced the appointment of three new corporators: Chief Mutáwi Mutáhash (Many Hearts) Marilynn “Lynn” Malerba became the eighteenth lifetime Chief of the Mohegan Tribe in 2010 and the first female Chief in the tribe’s modern history. Previously, she was Chairwoman of the Tribal Council and their Executive Director of Health and Human Services. U.S. Attorney General Eric Holder named Chief Malerba as one of fourteen tribal leaders in the Justice Department’s Tribal Nations Leadership Council, and she is Chairwoman of the Tribal Self-Governance Advisory Committee of the federal Indian Health Service. Locally she serves on Lawrence & Memorial Hospital’s and St. Joseph College’s respective Boards of Trustees. Daniel R. Dennis, Jr. is the former President and CEO of Norwich Savings Society and Eastern Market Manager for People’s United Bank. His civic involvement includes serving as Corporator for Backus Hospital and as Director of W.W.B. Corporation; Treasurer and Assistant Scout Master for Boy Scouts of America, Troop 20, Jewett City, Conn.; and as Trustee for the Mashantucket (Western) Pequot Tribal Endowment Trust. Dennis previously served organizations including the Norwich Community Development Corporation, the USS Connecticut (SSN22) Commissioning Committee, United Way of Southeastern Connecticut, Lawrence and Memorial Hospital and more. Robert W. Tabor began his banking career in 1970 and joined Chelsea Groton Bank in 1993, retiring in 2009 as Senior Vice President/Commercial Lending Manager. He has served as State of Connecticut Harbor Master for 36 years and additionally commits his time to Sea Research Foundation’s (parent organization of Mystic Aquarium) President’s Council; the Mystic Chamber of Commerce Advisory Board; and Southeastern Connecticut Enterprise Region’s Board of Directors and Loan Committee. Tabor also provides business consultation through Stanton Bay Capital, LLC. He is past President of Mystic Lions Club and Lords Point Association. To learn more about the bank’s fiscal 2012 results, annual meeting and new corporators contact Lori Dufficy, Senior vice president and director of sales and marketing at (860) 448-4184 or ldufficy@chelseagroton.com. About Chelsea Groton Bank Based in Groton, Conn., Chelsea Groton Bank is a mutually owned bank with 14 locations throughout New London County. The bank has $880 million in assets and serves businesses, individuals and families throughout Eastern Connecticut and Southern Rhode Island. To learn more, please visit chelseagroton.com.