Georgetown Savings Bank Names New Senior Lending Team.Seasoned Loan Officers Join Bank to Lead Expanded Commercial Lending Efforts Charles R. Shediac Named Senior Vice President/Chief Loan Officer Karen Cohn Named Senior Lending Officer GEORGETOWN, Mass. -- The Georgetown Savings Bank savings bank, financial institution that, until recently, performed only the following functions: receiving savings deposits of individuals, investing them, and providing a modest return to its depositors in the form of interest. recently named Charles R. Shediac of Boston, MA to the position of Senior Vice President/Chief Loan Officer. In his new position, Shediac will assume responsibility for all lending functions in the Bank with specific emphasis on expanding the commercial lending activities of the 138-year old community bank. Shediac began his career at State Street Bank in Boston, MA and has held various senior level lending positions over his 30 plus years in banking. Most recently, he served as Executive Vice President/Chief Lending Officer at First Trade Union Bank in Boston with responsibility for all lending activities of that Bank. Previously, Shediac served as Vice President at US Trust in Boston and Vice President/Chief Lending Officer at Greater Boston Greater Boston is the area of the Commonwealth of Massachusetts surrounding the city of Boston, Massachusetts. While Metro Boston tends to be the "Inner Core" surrounding the City of Boston, Greater Boston overlaps the North and South Shores, as well as the MetroWest region. Bank in Brighton, MA. Robert E. Balletto, President/Chief Executive Officer of Georgetown Savings Bank stated, " I am extremely pleased to welcome Charlie to the Georgetown Savings Bank team. Charlie's experience in the commercial lending arena along with his overall lending expertise and friendly, professional demeanor will play an important role as we continue our efforts to grow the Bank profitably." Shediac holds a Bachelor of Science Noun 1. Bachelor of Science - a bachelor's degree in science BS, SB bachelor's degree, baccalaureate - an academic degree conferred on someone who has successfully completed undergraduate studies degree in Business Administration from Suffolk University During the 1990s Suffolk University constructed its first residence halls, began satellite programs with other colleges in Massachusetts, and opened campuses in both Madrid, Spain, and Dakar, Senegal, (the Suffolk University Dakar Campus). . The Bank also named Karen Cohn of Saugus, MA to the position of Senior Lending Officer. In her new position, Cohn will be working closely with Shediac to support the Bank's efforts to expand its' commercial lending business in addition to adding expertise in the residential/consumer loan area. Cohn has over 25 years of professional experience in commercial and residential lending. Most recently, she served as Senior Vice President/Residential/Commercial Lending with First Trade Union Bank in Boston where she was responsible for managing residential and commercial loan portfolios. Previously, Cohn served as Vice President of Eagle Bank in Everett, MA, Senior Loan Officer at National City Mortgage in Waltham, MA, and Senior Loan Officer at Manhattan Financial Services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. in Waltham, MA. She also founded Summit Financial/Ideal Realty, an independent mortgage brokerage company specializing in the production of residential loans, commercial real estate loans, commercial loans, and SBA SBA abbr. Small Business Administration Noun 1. SBA - an independent agency of the United States government that protects the interests of small businesses and ensures that they receive a fair share of government mortgages for sale to banks and wholesale conduits, in 1985. Commenting on Cohn, Mr. Balletto stated, "I am equally excited about welcoming Karen to the Georgetown Savings Bank team. Karen's broad experience and expertise in both residential and commercial lending will be extremely beneficial to our existing customers as well as future prospects." Mr. Balletto further stated, "With our investment in seasoned professionals like Charlie and Karen, the Bank is renewing its commitment to providing the highest level of lending expertise and exceptional personal service. In addition, their six year working relationship will allow us to expand, promote and mange mange (mānj), contagious skin disease of domestic and wild animals. The several types of mange, including follicular and sarcoptic mange, are caused by various minute parasitic mites that burrow into skin, hair follicles, or sweat glands. our commercial lending efforts more efficiently and confidently." About Georgetown Savings Bank Founded in 1868, Georgetown Savings Bank, with branches in Georgetown, North Andover North Andover (ăn`dōvər), town (1990 pop. 22,792), Essex co., NE Mass., on the Merrimack River, in a dairy and farm area; settled c.1644, set off from Andover and inc. 1855. , and Rowley, MA, serves the financial needs of Essex County Essex County can refer to:
Forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. This news release may contain certain forward-looking statements, such as statements of the Bank's plans, objectives, expectations, estimates and intentions. Forward-looking statements may be identified by the use of words such as "expects," "subject," "believe," "will," "intends," "will be" or "would." These statements are subject to change based on various important factors (some of which are beyond the Bank's control) and actual results may differ materially. Accordingly, readers should not place undue reliance on any forward-looking statements (which reflect management's analysis only as of the date of which they are given). These factors include general economic conditions, trends in interest rates, the ability of our borrowers to repay their loans, the ability of the Bank to effectively manage its growth, and results of regulatory examinations, among other factors. Georgetown Savings Bank cautions that the foregoing list of important factors is not exclusive. Readers should carefully review the risk factors described in other documents the Bank files from time to time with the Federal Reserve, including Current Reports on Form 8-K Form 8-K The form required by the SEC when a publicly held company incurs any event that might affect its financial situation or the share value of its stock. Form 8-K See 8-K. . |
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