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Rollstone Bancorp, MHC, continues growth and profitability

Press release submitted by Rollstone Bank & Trust

Rollstone Bancorp, MHC, recently held its annual meeting, celebrating 174 years of community banking. Rollstone Bank & Trust is a wholly owned subsidiary of Rollstone Bancorp, MHC.

Martin F. Connors, Jr., President & CEO of Rollstone Bank & Trust, detailed the financial highlights for the fiscal year ending June 30. The Bank ended the year on a positive note, with total assets of $769.9 million, an increase of 12.1% over the previous year, and net income for the year of $2.9 million.

He also reported a successful year for the Wealth Management division, which reached total assets under management of $161.6 million, an increase of 5.3% over the previous year. The Wealth Management division is led by Melissa Maranda and focuses on helping people with all facets of their financial planning needs, including trusts.

“RBT has a long history of managing our business in a safe and sound manner and this year was no exception,” said Connors. He also reported a capital ratio of 10.6%, which is well over the required 5%, and loan delinquencies at a mere .09%.

Rollstone Bank continued its philanthropic efforts, awarding over $150,000 through its Charitable Foundation, as well as providing $30,000 in COVID-19 relief efforts to non-profit organizations across the region. The Bank also took several measures to help consumer and business customers. Among those were loan modifications, fee waivers, and $38.2 million in Paycheck Protection Program loans.

Chairman of the Board Anthony J. Mercadante commented that he was very proud of the efforts put forth by every member of the Rollstone team during the pandemic, and extended his gratitude on behalf of the entire Board of Directors.

At Rollstone Bank & Trust, we deliver personalized service that goes above & beyond. Our dedication to providing our customers with superior bank and wealth management solutions, along with the support they need to prosper at work and at home, has enabled us to build one of the most trusted banks in the region. With branches located throughout central Massachusetts, customers have peace of mind knowing we are FDIC & DIF insured, and never far from home. Rollstone Bank & Trust - it's where you matter most.

From left: Anthony J. Mercadante, Chairman of the Board of RBT; Martin F. Connors, Jr., RBT President & CEO (Courtesy photo)

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