Georgetown Bank (FDIC certificate 90202) was established in 1868 and operates through 3 branch offices located in MA. Mr. Robert E. Balletto, President & CEO of Georgetown Bank, leads a team of 48 employees.
Georgetown Bank, headquartered in Georgetown, MA, is rated five stars for financial strength by BauerFinancial, Inc., the nation’s leading bank rating firm. As a general rule, a five star rating indicates, among other things, that Georgetown Bank has at least twice the capital that regulators require, is profitable (or operating with a very small loss) and has kept its delinquent loans in check.
Georgetown Bank is a savings association (thrift). With $297 million in total assets, the OCC classifies the bank’s asset concentration as "Commercial Lenders" which is defined as institutions whose commercial and industrial loans, plus real estate construction and development loans, plus loans secured by commercial real estate properties exceed 25 percent of total assets.
Trust powers have been granted to the bank which means it has the right to act as a trustee, executor, administrator, registrar of stocks and bonds, guardian of estates, or in any other fiduciary capacity allowed under the laws of the state in which it is located.