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Easthampton Savings Bank Posts Solid Quarter

EASTHAMPTON — Easthampton Savings Bank staged its quarterly directors meeting on July 16. President & CEO Matthew S. Sosik reported the completion of another successful quarter for the bank. “This past year represents yet another in a long string of excellent financial performances at Easthampton Savings,” stated Sosik. Total assets were up $41.6 million from a year ago, an increase of 4.3%, while total loans increased 9% or $63.5 million.” Total loans now stand at $747.8 million. The bank’s deposit growth was $38.3 million or 5% from this time last year, with total deposits now at $840.2 million. “These continue to be challenging economic times for our region and interest rates remain very low as a result,” said Sosik. “In spite of those conditions, the bank continues to outperform the industry. At the same time, we have continued to invest heavily in the communities that we serve through direct charitable donations and many, many hours of community service by our staff and our directors.”

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