Mutual Federal Savings Bank of Plymouth County


 

Whitman, MA / December 10, 2003 ------ Mutual Federal Savings Bank Board Appoints Glen S. White, President and Chief Executive Officer

Long-time president David W. Cogan retiring
after twenty-two years with bank

The board of directors of Mutual Federal Savings Bank has appointed
Glen S. White to the post of president and chief executive officer of the bank. He succeeds David W. Cogan, who will retire as president and chief executive officer and retain his post on the bank's board of directors.

Incoming president Glen S. White joined Mutual Federal Savings as assistant treasurer in 1982. He was promoted to vice president and treasurer and named chief financial officer in 1995. He went on to assume responsibilities as head of retail banking, and initiated the bank's information technology program. In 2000, Mr. White was elected executive vice president and appointed as a member of the bank's board of directors. Prior to joining Mutual Federal Savings, he was with Charlestown Savings Bank. He holds a bachelor of science degree in accounting from Oklahoma City University and is an honors graduate of the National School of Banking at Fairfield University, Connecticut. Mr. White assumes his new post as president effective December 10.

Retiring president David W. Cogan began his banking career with Charlestown Savings Bank. He joined Mutual Federal Savings in 1981, and was appointed president and chief executive officer in 1992. During his tenure, Mutual Federal Savings established a consumer mortgage lending division and grew over forty percent, from $70 to more than $100 million. Under his direction, the bank completed a major renovation of the headquarters building in Whitman Center, and constructed two new branches in Halifax and Carver. Mr. Cogan served on the membership committee of the Mainspring Homeless Coalition and initiated the bank's annual funding support of the Coalition, as well as expanding the bank's overall giving program to local community causes. An avid golfer, Mr. Cogan is looking forward to enjoying his free time in retirement but will remain active in charting the future direction of Mutual Federal Savings as a member of the bank's board of directors.

Mutual Federal Savings Bank is an independent, mutually-owned savings bank serving the Plymouth County, Massachusetts community’s personal and small business banking needs, with full-service offices in Whitman, Hanson, Halifax, and Carver. The Bank has operated continuously as an independent, local institution since 1889.


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Whitman, MA / March 10, 2003 ------ Mutual Federal Savings Bank Jumpstarts Playground Fund

Chief Executive Officer David W. Cogan announces
$2,500 gift to Whitman Park Playground Fund

David W. Cogan, president, Mutual Federal Savings (right), presents a check for $2,500.00 to Richard Rosen, chairman of the Whitman Park Playground Fund.

Mutual Federal Savings Bank has provided a major gift of $2,500.00 to the Whitman Park Playground Fund. It is the first donation to be received by the Fund.

“We didn’t wait to be asked!”, said David Cogan, President of Mutual Federal Savings. “With this early gift to the Whitman Park Playground Fund, we hope to generate some excitement and buzz about the project. We also recognize our unique role as the local bank, headquartered in Whitman Center, to set a good example for other donors to follow. And we know that our customers, the families who live in Whitman, will benefit directly from our contribution.”

Mutual Federal Savings has provided additional support for the Whitman Town Park. For example, the bank recently sponsored three of the new park benches for the park restoration program. Said Mr. Cogan, “We are especially interested in supporting activities and amenities that foster community spirit. We understand that it’s important to have public gathering places and activities such as Whitman Park, where we and our children can develop a sense of community, and a commitment to community. It is probably no exaggeration to say that the child who plays in a well-maintained town park is more likely to grow up to play an active role as citizen. Such a park truly is an investment that pays back a hundred-fold.”

Mutual Federal Savings Bank is an independent, mutually-owned savings bank serving the community’s personal and small business banking needs, with full-service offices in Whitman, Hanson, Halifax, and Carver. The bank has operated continuously as an independent, local institution since 1889.


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Whitman, MA / March 5, 2003 ------ Mutual Federal Savings Bank Announces Additions To Management

David W. Cogan, President and Chief Executive Officer of Mutual Federal Savings Bank, has announced the following additions to the bank’s management team:

Richard Spencer has been appointed Treasurer of the bank. In his newly-created position, he is responsible for the operations and finance areas of the bank. Mr. Spencer joined the bank from Wolf and Company, a public accounting and business consulting firm, where he served as a senior accountant in the bank audit division. He holds a bachelor of accounting degree from Ithaca College. Mr. Spencer resides with his wife and son in Pembroke.

   

Melissa LaPorte has joined Mutual Federal Savings Bank as manager of the Carver branch office. Prior to joining the bank she was with Ivax Laboratories in the pharmaceutical sales division. She holds a bachelors degree in business management from Curry College. Ms. LaPorte served eight years as a combat medic in the U.S. Army Reserves and the National Guard. She is a Plymouth resident who enjoys hiking and camping in her spare time.

   

Vincent Loycano has joined the lending division of Mutual Federal Savings with responsibilities for underwriting and new business development, specializing in mortgage lending and construction financing. He brings over twenty years’ experience in retail banking and lending in the Plymouth County area. He is a graduate of the Massachusetts Bankers School of Commercial Lending. Mr. Loycano is a past chair of the Whitman Board of Appeals, and has served as committee chair for Old Colony United Way. He is a long-time resident of Whitman.

Mutual Federal Savings Bank is an independent, mutually-owned savings bank serving the community’s individual and small business banking needs, with full-service offices in Whitman, Hanson, Halifax, and Carver. The Bank has operated continuously as an independent, local institution since 1889.

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Whitman, MA / January 22, 2003 ------ Mutual Federal Savings Bank Holds Annual Meeting

Chief Executive Officer David W. Cogan announces
record performance as bank passes $100 million milestone

The Annual Meeting of Mutual Federal Savings Bank of Plymouth County was held January 15 at the bank’s Whitman Center headquarters. Before an audience of officers, directors, employees, and advisory board members, bank president and chief executive officer David W. Cogan delivered the report of operations for the fiscal year ended December 31, 2002.

Mr. Cogan noted that the occasion marked the one hundred-thirteenth annual meeting for Mutual Federal Savings. “The year 2002 was another terrific year for the bank,” he said. “We reached an important milestone when, for the first time in the bank’s history, we passed $100 million in asset size.” Mutual Federal Savings ended the year with total assets of $101.5 million, reflecting annual growth of more than five percent. Deposits grew to $79.6 million, another year-end record high.

“With interest rates at 40-year lows during most of 2002, home refinancing continued at a brisk pace for a second consecutive year. The bank loaned more than $21 million in home mortgages to individuals and families in our local communities,” Mr. Cogan said.

Notably, Mutual Federal Savings ended the year with a capital ratio of 11.86%, a record high for the third consecutive year. “Our excellent capital ratio is a key measure of our bank’s strength and stability,” said Mr. Cogan. “It means that this bank is easily able to withstand any current or future downturns in the economy.”

“Regardless of the challenges of the general economy, I expect the next few years to bring continued growth and strong earnings to Mutual Federal Savings Bank,” Mr. Cogan added.

Re-elected to 3-year terms as directors were Sandra G. Armour of Whitman, John H. Duval III
of Whitman, and Kevin E. Welch of Hanson. They will continue to serve with fellow directors David W. Cogan, president; Edward F. Joubert of Duxbury; Dennis S. Soliwoda of Carver; Glen S. White, executive vice president; and Ronald N. Whitney of Abington.

Mutual Federal Savings Bank is an independent, mutually-owned savings bank serving the community’s personal and small business banking needs, with full-service offices in Whitman, Hanson, Halifax, and Carver. The bank has operated continuously as an independent, local institution since 1889.

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December 31, 2001------ Mutual Federal Savings Bank Announces Officer Promotions

David W. Cogan, President and Chief Executive Officer of Mutual Federal Savings Bank, has announced the following promotions:

Glen S. White, has been elected executive vice president. He is the bank's chief financial officer and head of retail banking, and has served on the bank's board of directors since 2000. Mr. White joined the bank in 1982. He is an honors graduate of the National School of Banking at Fairfield University.

Peter A. Mahoney has been elected vice president and senior lending officer of Mutual Federal Savings Bank. He is head of real estate and consumer lending, and oversees electronic banking services for the bank. Mr. Mahoney recently earned A-plus certification in PC service and support from Clark University. He serves as youth soccer president, finance committee member, and on the high school council for his hometown of Holbrook.

Theresa A. Bryant has been elected assistant vice president. She serves as branch administrator and manager of the bank's main office in Whitman. She is also responsible for the bank's training and sales activities. She currently serves as treasurer of Whitman Kiwanis and is a member of the Whitman-Hanson Business and Professional Association. Prior to joining Mutual Federal Savings in 1986, Ms. Bryant was with BankBoston.

Mutual Federal Savings Bank is an independent, mutually-owned savings bank serving the community's personal and small business banking needs, with full-service offices in Whitman, Hanson, Halifax, and Carver. The Bank has operated continuously as an independent, local institution since 1889.

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September 27, 2001 ------ Students at Whitman's Duval Elementary School, with help of Mutual Federal Savings Bank, raise over $4,000 to help victims of Sept. 11 Attack

When the terrible events of September 11 occurred, the children at Duval Elementary School in Whitman reacted as most people did - they wanted to help. With the encouragement of teachers and parent volunteers, the students, grades one through five, decided to raise funds for the American Red Cross Disaster Relief Fund. First the student raided their own piggy banks, then they set to work collecting from others. They accepted pennies, quarters, dollars, checks, whatever friends, family, and school staff could contribute to the cause.

As a final step, they appealed to the local bank for a matching contribution. Mutual Federal Savings Bank stepped in and agreed to match the total amount collected, effectively doubling the donation. The result: Duval Elementary School students raised a grand total of $4,108.60 to assist the victims of the terrorist attack and their families.

"As a school we have always had a goal to be involved in community projects, said school principal Richard Beshara. "Every time we ask the support of students, parents, and staff the response is overwhelming. I am truly proud of our school's efforts in raising over $4,000 for this cause. It gives us a little sense of gratification knowing that we have helped the victims of this tragedy."

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Whitman, MA / June 14, 2001 ------ Mutual Federal Savings Bank Supports Children's Reading In Carver

Prize awards, art contest, and donation mark conclusion of month-long grand opening celebration

Mutual Federal Savings Bank recently wrapped up its month-long celebration of the opening of its new branch at 74 Main Street (Route 58) in Carver.

Branch manager Helen Turner announced three grand prize winners from among hundreds of entries received throughout May from visitors to the branch. Winners were awarded merchandise ranging from a DVD Player to a TV-VCR combo. The winners are: Dan Emord, Sue Blauss, and James Stone, all of Carver.

Honoring its promise to contribute one dollar per contest entry to a worthy local cause, Mutual Federal Savings today presented a check for $750.00 to the Carver Bingo For Books children's reading program, sponsored by the Carver Public Schools. Accepting the donation on behalf of the program, Community Resource Project Co-Ordinator Rhonda Ackerman said, "Thank you so very much. This is a wonderful way for the Bank to support the School's Family Literacy Events. It adds another facet to the school culture." She said the program had just spent $600 for books and the check would allow them to purchase even more books. Ms. Ackerman said that the kids like the program because it gives them a chance to spend some time with the whole family. "The kids think this aspect of the program is 'cool'."

Winning entries in the "I Love Carver Because" art contest, sponsored by Mutual Federal Savings for students in grades three through five at the Governor John Carver School were also announced. Savings Bonds for best drawing have been awarded to: Grade three, Allyson Donahue; grade four, Corina Ward; grade five, Corey Meenan. "All of the students' drawings were creative and colorful. Each contribute something special to our wonderful display in the bank lobby," said Mrs. Turner. Each child received a Certificate of Thanks, a Sacajawea gold dollar coin, and a merit ribbon.

Mutual Federal Savings Bank is an independent, mutually-owned savings bank serving the community's personal and small business banking needs, with full-service banking centers in Whitman, Hanson, Halifax, and Carver. The bank has operated continuously as an independent, local institution since 1889.

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Whitman, MA / May 1, 2001 ------ Mutual Federal Savings Bank Grand Opening In Carver On Saturday Was A Great Success

Large turnout, food, and fun were enjoyed on Saturday

Mutual Federal Savings Bank hosted an open house on Saturday to celebrate the opening of the bank's newly constructed building at 74 Main Street, Carver. Hundreds turned out to enjoy the hotdogs, soda and popcorn, sign up to win prizes, and claim their free gift. Children were entertained by a clown and received special balloons in the shapes of flowers and animals.
Carver manager Helen Turner and her staff received well-wishes from the many customers who attended, many of whom have banked with Mutual Federal Savings since the bank opened its first location in Carver in the 1970's.

Until May 25, visitors to the bank can enter a drawing for a chances to win prizes , including a Panasonic TV-VCR, a JVC-brand DVD player, and a Phillips mini-Sound System with CD changer. Free thank you gifts - barrel bags and can koozies - are also still available, but going fast.

Mutual Federal Savings Bank is an independent, mutually-owned savings bank serving the community's personal and small business banking needs, with full-service banking centers in Whitman, Hanson, Halifax, and Carver. The bank has operated continuously as an independent, local institution since 1889.

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Whitman, MA / April 23, 2001 ------ Mutual Federal Savings Bank Opens New Carver Banking Center

Mutual Federal Savings Bank president David W. Cogan cut the ceremonial ribbon and declared the bank's new Carver banking center officially open for business in a ceremony held shortly before noon today, at the entrance of the newly constructed building at 74 Main Street, Carver.

Participating in the ceremony were Carver manager Helen Turner and her staff, many of whom spent the weekend assisting with the move from the bank's previous location down the street.

"The opening of this branch caps a ten-year program of expansion and upgrading for all four of our full-service banking centers," said Mr. Cogan. "We are pleased with the results, and appreciate the many enthusiastic comments we have received from our customers and others.

"The new Carver banking center is more than just attractive it is functional, too. We have doubled our drive-up teller capacity, added 24-hour drive-up ATM service, provided handicap access, night drop service for business customers, and a conference space that will be great for mortgage closings." Mr. Cogan said.

A grand opening celebration for the public on Saturday, April 28, from 10AM to 3PM will feature Mutual Federal Savings Bank officers serving up hotdogs and soda, and passing out popcorn. Visitors can enter a drawing for a chances to win prizes, including a TV-VCR, a DVD player, and a mini-Sound System with CD player. Clowns, balloons, and WATD-FM on-site with a live broadcast will round out the fun.

For each entry received in the prize drawing, Mutual Federal Savings will donate $1 to buy children's books for Carver's Bingo For Books reading encouragement program. The prize entry period will continue through May 25.Anyone 18 or older may enter.

In addition, the bank is sponsoring an art contest for students in grades 3, 4, and 5 of the Governor Carver School. The theme of children's drawings, "I Love Carver Because," was inspired by Patriots Day. All drawings will be displayed in the bank lobby starting May 14. Three winning entries, one from each grade, will be announced on May 25. Winners will be awarded a savings bond, and all students who enter will receive a token thank you gift for participating.

Mutual Federal Savings Bank is an independent, mutually-owned savings bank serving the community's personal and small business banking needs, with full-service banking centers in Whitman, Hanson, Halifax, and Carver. The bank has operated continuously as an independent, local institution since 1889.

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January 24, 2001 ------ Whitman Students Earn Saving Makes Cents Award From Visiting State Treasurer Shannon O'Brien

State Treasurer Shannon P. O'Brien and Former Celtics star Ernie DiGregorio visited Whitman elementary schools this morning to present a Citation congratulating 4th and 5th graders for their participation in the Saving Makes Cents program. Saving Makes Cents is conducted in local schools by Mutual Federal Savings Bank to teach children about setting and reaching goals, saving, and smart money management.

Treasurer O'Brien spoke to assembled students at the Duval and Conley schools, then Ernie D. entertained everyone with a basketball demonstration, featuring some one-on-one play with individual students. Their message was the same: Start saving now, every little bit counts, and practicing good habits today will lead to big rewards down the road.

Also attending were David W. Cogan, President of Mutual Federal Saving Bank, and Paul D. Tisdale, coordinator of the Saving Makes Cents program for the Bank. Mutual Federal Savings was one of the first banks in the area to volunteer its participation in the program, now in its 8th year.

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Whitman, MA / Jan. 22, 2001 ------ Mutual Federal Savings Bank
Announces Officer Promotion

Dawn DeVita-Bosworth has been elected an assistant treasurer of Mutual Federal Savings Bank, it was announced today by bank president David W. Cogan.

Ms. DeVita-Bosworth serves as manager of the bank's Halifax office, where she is responsible for branch operations, customer service, and local mortgage lending. She also conducts the Saving Makes Cents educational program at Halifax Elementary School.

Ms. DeVita-Bosworth has been associated with Mutual Federal Savings Bank for 18 years. She began her career as a part-time teller at the Hanson branch, and has managed the Halifax office since 1990.

She serves on the board of directors and finance committee of the Plymouth County Coalition for the Homeless, and is a member of the Halifax & Plympton Business Association. She is a resident of Halifax.

Mutual Federal Savings Bank is an independent, mutually-owned savings bank serving the community's personal and small business banking needs, with full-service offices in Whitman, Hanson, Halifax, and Carver. The Bank has operated continuously as an independent, local institution since 1889.

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Whitman, MA / January 18, 2001 ------ Mutual Federal Savings Bank Reports Strong Growth

111th annual meeting for an historic, forward-looking local institution

David W. Cogan, president and chief executive officer of Mutual Federal Savings Bank of Plymouth County, delivered the Year 2000 report of operations to officers, directors, employees, depositors, and advisory board members at the bank's Annual Meeting of Shareholders held January 17 at the bank's Whitman Center headquarters.

Mr. Cogan noted that the occasion marked the one hundred and eleventh annual meeting for Mutual Federal Savings. "2000 was a solid, successful year for the bank," he said, "We ended the year with total assets of $88.4 million, reflecting an annual growth of more than four percent. Deposits grew to $70.7 million, a year-end record high.

"We also are proud to have loaned nearly seven million in home mortgages to individuals and families in our local communities," he added. (continued)

Mutual Federal Savings Bank January 18, 2001 page two

Mr. Cogan said that Mutual Federal Savings achieved a year-end capital ratio of 11.7%, a record high for the second consecutive year and a key indicator of the bank's strength.

"At the time of last year's meeting, we were in the early stages of planning a new branch in Carver. Construction is now in full swing, and we anticipate completion in March.

"In year 2000 the bank introduced two new services that we believe will play a pivotal role in the bank's future growth. These are Small Business Checking and Checkmate Online Banking, which is the internet-based successor to our former, software-reliant home banking product." Mr. Cogan concluded that, despite a slowing of the economy, "I expect the next few years to provide continual growth and strong profits to Mutual Federal Savings."

Re-elected to 3-year terms as directors were Mr. Cogan and Edward F. Joubert, owner of Joubert's Clothing in Whitman. Elected to his first 3-year term as a director was bank vice president Glen S. White.

Mutual Federal Savings Bank is an independent, mutually-owned savings bank serving the community's personal and small business banking needs, with full-service offices in Whitman, Hanson, Halifax, and Carver. The bank has operated continuously as an independent, local institution since 1889.

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October 30, 2000 ------ Mutual Federal Savings Bank Helps Homeless In Plymouth County

David W. Cogan, President and Chief Executive Officer of Mutual Federal Savings Bank, has announced a major, ongoing funding commitment by the bank to benefit the Brockton Coalition for the Homeless.

Mr. Cogan, who serves on the Coalition development board, today presented the first annual contribution in the amount of two thousand dollars to Coalition executive director Dennis P. Carman and director of volunteers Julie Vaitkus, in a brief ceremony held at MainSpring House, Brockton.

"We applaud the good work of the Coalition in providing shelter, meals, and support to people in need," said Mr. Cogan. "More than an emergency safety net, it offers people the tools and training to get back on their feet and return to independent living. And this organization knows how to make every dollar count. That's why our bank has determined that the Brockton Coalition for the Homeless is deserving of our highest level of support."

Mutual Federal Savings Bank is an mutually-owned savings bank with $85 million in assets, serving the community's personal banking needs with full-service offices in Whitman, Hanson, Halifax, and Carver. The Bank has operated continuously as an independent, local institution since 1889.

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October 24, 2000 ------ Mutual Federal Savings Bank Announces Officer Promotions

David W. Cogan, President and Chief Executive Officer of Mutual Federal Savings Bank, has announced the following promotions:

Glen S. White, Vice President, was elected a Director of the bank by the Board of Directors of Mutual Federal Savings. Mr. White joined the bank in 1982 from Neworld Bank, Boston. He serves as the bank's chief financial officer and head of retail banking. He graduated with honors in July from the National School of Banking at Fairfield University.

Helen I. Turner has been named Branch Manager of the Carver office. Ms. Turner joined the bank in 1984. Her experience with the bank incudes branch operations and two years as a loan specialist. Most recently she served as assistant manager in Carver. Ms. Turner will also develop mortgage business and conduct the Saving Makes Cents program in the Carver elementary school.

Melissa M. Russo has been named Branch Manager of the Mutual Federal Savings Hanson office. She joined the bank in 1995 as a teller, advanced to head teller, and to her former position as assistant manager in Hanson. Mrs. Russo has just returned from maternity leave and is the proud new mother of a baby boy, Matthew.

Mutual Federal Savings Bank is an independent, mutually-owned savings bank serving the community's personal banking needs, with full-service offices in Whitman, Hanson, Halifax, and Carver. The Bank has operated continuously as an independent, local institution since 1889.

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October 5, 2000 ------ Mutual Federal Savings Bank breaks ground for new branch in Carver

David W. Cogan, president and chief executive officer of Mutual Federal Savings Bank, turned the first shovelful of earth at an early morning ground-breaking ceremony held today to begin construction of a new bank building in Carver.

Participating in the ceremony were bank director Dennis S. Soliwoda, acting branch manager Helen I. Turner, and bank advisory board members Virginia Borbas, Frederick W. Weston, and Frank R. Mazzilli.

The new branch will be located opposite Cedar Springs shopping center on Main Street. It will feature improved drive-up teller facilities, drive-up ATM, night depository, handicap access, and conference space for mortgage closings.

Mutual Federal Savings Bank has a well-established presence in the town of Carver, where it has operated a branch office since 1978. Currently doing business at Sedell Plaza on Main Street, the bank will complete construction and occupy its new quarters in early 2001.

Mutual Federal Savings Bank is an independent, mutually-owned savings bank serving the community's personal banking needs, with full-service offices in Whitman, Hanson, Halifax, and Carver. The Bank has operated continuously as an independent, local institution since 1889.

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August 9, 2000 ------ Mutual Federal Savings Bank V.P. Glen White graduates with honors from National School of Banking

Glen White, Vice President of Mutual Federal Savings Bank, has returned to his bank duties after receiving a diploma with honors from the National School of Banking of America's Community Bankers.

Mr. White was one of the 49 members of the Class of 2000 who took part in the July 23 commencement ceremonies at Fairfield University in Fairfield, Connecticut.

America's Community Bankers represents the nation's community banks of all charter types and sizes. ACB members pursue progressive, entrepreneurial strategies for providing financial services to benefit their customers and communities. The National School of Banking consists of three ten-day, resident sessions spanning two years on the campus of Fairfield University. Students are required to complete inter-session research assignments, as well.

Mutual Federal Savings Bank is an independent, mutually-owned savings bank serving the community's personal banking needs, with full-service offices in Whitman, Hanson, Halifax, and Carver. The Bank has operated continuously as an independent, local institution for 110 years.

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April 21, 2000 ------ Coin-holder Album Sales Support Whitman-Hanson H..S. Girls' Soccer

Decorative coin-holder albums designed to showcase the 50 U.S. States Commemorative Quarters are now on sale for the special price of $5.00, exclusively at the following locations: Hanson Hardware (Rte. 27), and Mutual Federal Savings Bank offices in Hanson (Shaw's Plaza) and Whitman Center.

All proceeds of the sale go to support the Whitman-Hanson Girls' Soccer Team, who are trying to raise money to purchase uniforms and equipment for the Fall 2000 season.

The albums were provided at reduced cost by Walker-Clay, Inc. of Hanson. The 50 State Commemorative Quarters are being issued by the U. S. Mint to celebrate the unique characteristics of the 50 states. five states each year for 10 years, until 2008.

The coins are being issued in the same order that the states joined the Union. Massachusetts had the distinction of being the first quarter issued in the new Millenium.

You can learn more about the 50 States Quarters program and other coin facts by visiting www.usmint.gov on the web.

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November 1, 1999 ------ MUTUAL FEDERAL SAVINGS BANK STARTS
SIXTH YEAR WITH STUDENT BANKING PROGRAM

Mutual Federal Savings has renewed its partnership with local schools to conduct Saving Makes Cents programs for the 6th consecutive year.

Mutual Federal Savings was one of the first banks in the area to volunteer its participation in Saving Makes Cents. The program was started by the State Treasurer's office to help children learn-by-doing about the personal rewards of saving, setting and reaching goals, and practicing smart money management.

More than 1,500 children are eligible to participate in this year's voluntary program, as follows:

Carver grades 3,4,5 Halifax grades 5,6
Hanson grades 3,4 Whitman grades 4,5

Student orientation sessions are held during October and November. All students receive materials including a letter to parents and a permission slip allowing them to open an account.

According to Mutual Federal Savings auditor and program coordinator Paul Tisdale, bank employees visit elementary schools twice a month to let students make deposits to special Saving Makes Cents passbook accounts.

"The goal is to instill the kind of behavior patterns in these young people that will help them understand the importance of saving," says Paul. "Children at this age get money from babysitting, paper routes, birthdays, or allowances. We encourage them to save as much as possible. When they are asked, 'what are some of the things you want to save for,' the number one answer is always college, followed by a car, bicycle, and rollerblades."

Adds Paul, "Being involved in Saving Makes Cents has been a truly rewarding experience for the Bank."

Mutual Federal Savings Bank is an independent, mutually-owned savings bank serving the community's personal banking needs, with full-service offices in Whitman, Hanson, Halifax, and Carver. The Bank has operated continuously as an independent, local institution for 110 years.

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July 16, 1999 ------ Mutual Federal Savings Bank of Plymouth County has been named among the Top 50 Thrifts in the Northeast, as published in Strategic Adviser magazine, June 1999 edition.

The ranking was based on the Bank's performance in five key financial indicators: Return on Assets (.86%), Net Interest Margin (3.77%), Non-Performing Assets ratio (0.00%), Net Charge-Offs Loan ratio (-0.01%), and Operating Expense/Revenues ratio (65.70). The indicators measure profitability, asset quality, and operating efficiency.

To qualify, banks must also meet a minimum capital ratio of at least 4%. The Mutual Federal Savings capital ratio was 10.81%, more than twice the requirement.

The analysis, conducted by SNL Securities, a research and publishing company and recognized authority for information on financial institutions, considered all reporting
banks from the six New England states, plus New York, New Jersey, and
Pennsylvania, as of December 31, 1998.

Mutual Federal Savings Bank is an independent, mutually-owned savings bank serving the community's personal banking needs, with full-service offices in Whitman, Hanson, Halifax, and Carver. The Bank has operated continuously as an independent, local institution for 110 years.

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February 1, 1999 ------ David W. Cogan, President and Chief Executive Officer of Mutual Federal Savings Bank, announced today that the Bank has joined SUM,
a selective surcharging program managed by the NYCE Network. As a SUM program member, Mutual Federal joins forces with other financial institutions who agree to pool designated automated teller machines (ATMs) and allow all SUM members' customers to use them surcharge-free. Surcharges are convenience fees that some banks and credit unions charge non-customers for using their ATMs.

Mr. Cogan said, "Mutual Federal is pleased to be part of the SUM alliance. We see it as one more way we can bring our customers great service at a great price. Our customers are busy and they get around. They want the convenience of ATM access everywhere they go -- and they don't want to be held hostage by the big banks who impose surcharges. In joining SUM, Mutual Federal is making sure we continue to deliver on our promise to give our customers that convenience."

"All credit is due to the NYCE Network for coordinating this grassroots initiative of its local member banks, including Mutual Federal," Mr. Cogan concluded.

The SUM program, currently operating as a Massachusetts pilot, is available to all NYCE Network financial institutions in Massachusetts. As of today, 182 of those institutions have signed with up for SUM, bringing more than 1,115 ATMs into the surcharge free program.

The SUM name and logo were developed to help customers readily identify surcharge-free ATMs. Anyone can find out which institutions are SUM members, and where SUM ATMs are located, by visiting the SUM web site at www.sum-atm.com.

Mutual Federal Savings Bank is an independent, mutually-owned savings bank serving the community's personal banking needs, with full-service offices in Whitman, Hanson, Halifax, and Carver. The Bank has operated continuously as an independent, local institution for 110 years.

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