Millbury Savings Bank reports strong performance in 2006

MILLBURY, MASSACHUSETTS, May 16, 2007—Millbury Savings Bank reported loan growth of $11.7 million and net income of $1.18 million in 2006—equaling or exceeding performance in its peer group or comparing favorably to the savings bank industry’s performance statewide—according to William J. Walsh, president and chief executive officer, at the bank’s April Annual Meeting.

Millbury Savings Bank’s growth in loans and strong profitability were among several positive financial indicators that highlighted the bank’s 2006 operating results.

• The bank’s 0.69% return-on-assets ranked third in peer group performance, nearly double the group’s 0.35% average ROA.
• Loans delinquent over 30 days were 0.01% of total loans at year-end, the lowest loan delinquency ratio among 70 savings banks statewide.
• The bank investment securities portfolio generated a yield that ranked first in peer group performance and ended the year with a bond portfolio market-to-book value that was best among savings banks statewide.

Mr. Walsh stated that Millbury Savings Bank’s favorable operating performance continued into 2007, with net income of $212,000 during 2007’s first quarter, ahead of budget. Deposit activity was also strong as the portfolio grew by $6.7 million to $139.6 million in the first quarter.

About Millbury Savings Bank
Millbury Savings Bank, with assets of more than $175 million, is a full-service, community-based, mutual savings bank with two offices located in Millbury. Established in 1854, the bank offers an array of savings and loan products for consumers and small to mid-size businesses within Central Massachusetts. All deposits are insured in full by the Federal Deposit Insurance Corporation (FDIC) and the Depositors Insurance Fund (DIF). In May 2007, the bank received an exceptional performance award from Bauer Financial Reports, Inc., of Coral Gables, Florida—the nation’s leading independent bank rating and research firm—recognizing the bank’s 69 consecutive quarters of five-star superior ratings.

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