The 147th annual meeting of the Watertown Savings Bank (WSB) was held recently at the Boston Marriott Hotel in Newton. Before the gathering of bank officers, managers, trustees, and corporators, Bank President Brett Dean talked about 2016 results and events, and plans for 2017.
Dean reported that in 2016, WSB saw continued deposit and loan growth. As of December 31, 2016, total assets for the bank were $1.1 billion.
He noted that WSB will continue its commitment to customer service and community banking. For the seventh year in a row, WSB was chosen as the Region’s Favorite Bank in the Wicked Local Readers Choice Awards.
Dean remarked that WSB’s Customer Choice Awards Program celebrated its 20th Anniversary in 2016. Through this program, $1 million has been distributed to 76 different organizations voted on by WSB customers.
He also highlighted many of the Bank’s other ongoing programs and events, including: customer appreciation cookouts at several branch locations; presence at town fairs in each of the towns where WSB is located; packing cheer boxes for soldiers who are deployed; hosting free Shredding Days in the spring and fall; hosting the annual Watertown Square tree lighting; and continued financial support of the hundreds of non-profits in WSB’s market area (WSB gave $340,000 to more than 350 organizations in 2016).
Dean recognized Assistant Vice President and East Watertown Branch Manager Bill Burgess, who was named Community Bank Hero by the Banker & Tradesman publication in May 2016. Burgess developed the Emerging Leaders of Waltham program, which has helped many students learn how to start, run, and market a business. Top students from the program receive a scholarship from Dale Carnegie Training to study public speaking. Emerging Leaders of Waltham is currently in its sixth year, and Burgess is looking to expand the program to Watertown.
Looking ahead to 2017, Dean said that the bank will continue its focus on Main Street and its mission to remain a safe, secure, independent community bank. Dean was also pleased to announce the opening in fall 2017 of its 10th location at 1265 Main Street, Waltham, also known as the Market Basket plaza.
At this year’s meeting, Watertown Police Chief Michael Lawn was appointed Corporator. Chief Lawn has served on the Watertown Police Department for 28 years. Frederick Proia was also named Corporator. Proia was the Senior Vice President of Retail Banking for WSB, and recently retired after 43 years of service.
Watertown Savings Bank is a state-chartered mutual savings bank, with nine locations primarily serving Arlington, Belmont, Lexington, Newton, Waltham and Watertown.