PRESS RELEASE
For immediate release:
April 19, 2013
 
Contact:         Elizabeth Stodolski
                        (603) 629-1430
                        estodolski@stmarysbank.com

St. Mary's Bank Holds 104th Annual Shareholder Meeting
New Chairman and Vice Chairman Elected

MANCHESTER, NH - April 19, 2013 -  St. Mary’s Bank – the nation’s first credit union – shared 2012 financial results with members at its 104^th Annual Shareholder meeting on April 17 at SERSC Conference Center in Bedford, New Hampshire.  Following the meeting, new board leadership announcements were made.

Gina Balkus was elected Chairman of the Board. Balkus has served on the St. Mary’s board since February 2008. Currently Chief Executive Officer of the Home Care Association of New Hampshire, she has 25 years’ experience in health care public policy.

Balkus thanked both Joseph G. Fremeau and Ronald J. Rioux for their leadership, serving as Chairman of the Board and Vice Chairman respectively, for a three-year term. Both Fremeau and Rioux remain on the board and continue to serve the credit union.

David H. Bellman was elected Vice Chairman. Bellman joined the St. Mary’s board in 2010. Bellman is president and co-founder of Bellman Jewelers, Inc., one of New England’s largest retailing/manufacturing jewelers.

During the meeting, St. Mary’s Bank President and CEO Ronald H. Covey, Jr. discussed the credit union’s strong deposit and loan growth in 2012. He noted the success of the new Operations Center opened in early 2012 with benefits to the membership through improved operations and additional branch location. He also discussed the new corporate headquarters under construction and timetable for completion.   

Robert DesMeules, St. Mary’s Chief Financial Officer and Treasurer, highlighted both the institution’s and members’ results for 2012.  St. Mary’s year-end results included:


-          $390 million in new consumer, mortgage and commercial loans
-          $565 million total loans
-          $630 million total deposits

St. Mary’s Bank ended 2012 with $732 million in assets.

Stephen J. Grzywacz and Gina Balkus were elected to three-year terms on the Board. 

Elected to fill one-year terms on the Supervisory Committee were Guy D. Chapdelaine, Craig S. Donais, Esq. and Robert E. Duval.  Elected to fill one-year terms on the Credit Committee were David Bellman, Daniel J. Healy and Ronald J. Rioux.

About St. Mary’s Bank
Founded in Manchester, New Hampshire in 1908, St. Mary’s Bank is the first credit union in the nation. It makes progressive financial products and services available and affordable to consumers and businesses. Members enjoy excellent service, competitive rates, low fees and state-of-the-art banking services. Headquartered in Manchester, New Hampshire, St. Mary’s Bank has branches in Manchester, Hudson, Londonderry, Milford and Nashua. Call 1-888-786-2791 or visit www.stmarysbank.com for more information.