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PRESIDENT AND CEO STOVER RESIGNS FROM NANTUCKET BANK

 PRESIDENT AND CEO STOVER RESIGNS FROM NANTUCKET BANK
 NANTUCKET, Mass., Oct. 5 /PRNewswire/ -- Home Port Bancorp, Inc. and its subsidiary bank, Nantucket Bank of Nantucket, Mass. at a recent board meeting accepted the resignation of Robert G. Stover from his positions as a director of Home Port and chairman of the board, president, CEO and director of Nantucket Bank effective Oct. 2, 1992.
 Karl L. Meyer, chairman of the board of Home Port accepted Stover's resignation and stated he appreciated Stover's assistance and cooperation in providing for an orderly change in management. Meyer also noted that Philip W. Read has been elected acting chairman of the board and William P. Hourihan, Jr., acting chief executive officer and president of Nantucket Bank.
 Stover remarked he was pleased that Home Port had been able to maintain its position as one of the highest capitalized institutions in New England and nation wide. "The Nantucket community is fortunate to have a strong locally controlled bank capable to meet the continuing needs of the community," he said. Stover indicated that his decision to resign was based on his desire to spend more time with his family and pursue other interests.
 The shares of Home Port are traded on the over-the-counter market on NASDAQ under the symbol "HPBC".
 -0- 10/5/92
 /CONTACT: William Hourihan of Home Port, 508-228-0580/
 (HPBC) CO: Home Port Bancorp., Inc. ST: Massachusetts IN: FIN SU: PER


DH -- NE014 -- 6465 10/05/92 09:53 EDT
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Publication:PR Newswire
Date:Oct 5, 1992
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