The 143rd annual meeting of the Watertown Savings Bank (WSB) was held February 5th at the Boston Marriott Hotel in Newton.
Before the gathering of bank officers, managers, corporators and trustees, President and Chief Operating Officer (COO) Brett W. Dean reported on the bank’s 2012 results and plans for 2013. He noted that the bank remains well capitalized with a capital ratio of 8.8%, far exceeding minimum regulatory requirements. Dean remarked that WSB continues its strong, safe lending practices. Loan originations were up 18%, with delinquencies well below one percent. WSB also saw continued checking account growth, adding nearly 600 new checking accounts in 2012. As of December 31, 2012, total assets for the bank were $1.09 billion.
Dean reported that the bank will continue its commitment to customer service and community banking. He gave special recognition to the bank’s on-site customer support team, who handle all incoming calls to the bank: nearly 45,000 calls answered in 2012. In addition to answering calls, customer support also now manages the bank’s online chat which was introduced in 2012. In seven months, there were more than 1,100 chats. Dean also commended the extended 7 a.m. to 7 p.m. drive-up hours at the Lexington branch, and Church Street, Watertown branch locations. The early and late hours provided additional convenience to thousands of customers.
On the horizon for 2013: a mobile website; remote deposit capture; the ongoing adoption of WSB Mobile; and an ATM/Merchant coupon program.
At this year’s meeting, Vice President and Controller Nicole J. Biggins was promoted to Treasurer. Two new corporators were also announced. Paul J. DiSciullo is the owner of Mr. Dirt’s Cleaning in Waltham, a longtime WSB vendor. Frank A. Stasiowski is the founder and CEO of PSMJ Resources, Inc. in Newton, consulting on the effective management of architecture, engineering, and construction firms worldwide.
Watertown Savings Bank is a state-chartered mutual savings bank, with nine locations primarily serving Arlington, Belmont, Lexington, Newton, Waltham and Watertown.