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SPENCER SAVINGS BANK HOSTS CONGRESSMAN SCOTT GARRETT AT CONFERENCE TO DISCUSS MUTUAL BANKING INDUSTRY ISSUES AND TRENDS

ELMWOOD PARK, NJ (June 28, 2011) – Spencer Savings Bank, a mutually-owned community savings bank headquartered in Elmwood Park, N.J., held a conference on May 18, 2011, for local, New Jersey bank leaders, that featured remarks from Representative Scott Garrett and a comprehensive discussion of current industry issues and trends affecting mutual banks.

José B. Guerrero, President and CEO of Spencer Savings Bank, hosted the conference, inviting fellow New Jersey community bank leaders to Spencer Savings Bank headquarters to address current industry issues and topics including the Dodd-Frank Wall Street Reform, the importance of the Federal Home Loan Bank to community banks, expansion of small business lending authority for credit unions and the critical role played by mutual institutions in serving the lending and deposit needs of local communities.

In attendance were John E. McWeeney, Jr., President and CEO of the New Jersey Bankers Association; Raymond G. Hallock, President and CEO of Columbia Bank; Robert E. Stillwell, President and CEO of Boiling Springs Savings Bank; John H. Wessling III, President and CEO of Haven Savings Bank; Robert S. Monteith, CEO of NVE Bank; and Robert Rey, President and COO of NVE Bank.

About Spencer Savings Bank:

Spencer Savings Bank, headquartered in Elmwood Park, New Jersey, is a community bank that has been serving its local communities with integrity and pride for over 70 years. The Bank, serving consumers and businesses, operates 19 branches throughout Northern New Jersey. Spencer Savings Bank has over $1.8 billion in total assets.