NOTICE TO MEMBERS OF SPENCER SAVINGS BANK, SLA

CANCELLATION OF THE SPECIAL MEETING OF MEMBERS, SCHEDULED FOR APRIL 23, 2019, FOR CONSIDERATION OF THE PLAN OF CONVERSION OF SPENCER SAVINGS BANK, SLA FROM A NEW JERSEY CHARTERED MUTUAL SAVINGS ASSOCIATION TO A NEW JERSEY CHARTERED MUTUAL SAVINGS BANK

On April 5, 2019, an Order in Aid of Litigant’s Rights (the “Order”) was issued by the Superior Court of New Jersey, Chancery Division, Passaic County (the “Court”), in the matter or Lawrence B. Sideman and Arthur Wein v. Spencer Savings Bank, SLA, et al. The Order requires Spencer Savings Bank, SLA (the “Bank”) to provide notice to all of its members that the Court has granted a temporary injunction and, as such, there will be no vote and the Special Meeting shall not take place. Accordingly, members are hereby notified that the Bank’s Special Meeting of Members, scheduled for April 23, 2019, will not be held and no member vote will take place. In accordance with its bylaws, the Bank will notify members of the time, place and record date of any rescheduled meeting of members.