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Bill Olsen appointed Vice President of Commercial Lending

August 21, 2008

Janice T. Houghton, President and C.E.O. of StonehamBank, announced the recent appointment of Bill Olsen to the position of Vice President of StonehamBank’s Commercial Lending Division.

Olsen, a seasoned veteran in Commercial Lending, joins StonehamBank with many years of experience in the banking industry working for Bank of Boston, Metropolitan Bank and Trust Company and Northern Bank & Trust Company as a senior lender.

“StonehamBank is elated to have Bill as part of our Commercial Lending Division,” stated Houghton, “His extensive lending background and broad knowledge of the commercial industry strengthens our core team as we work towards expanding our commercial portfolio.“

As Vice President of Commercial Lending, Olsen will focus extensively along the 128/93 belt expanding StonehamBanks’ Commercial Client base and offering flexible lending programs to area businesses.

StonehamBank’s Commercial Lending Division covers Massachusetts and southern New Hampshire. We offer competitive pricing and loan products to secure the Commercial Business Portfolio in today’s market. Olsen, along with the rest of StonehamBank’s dedicated team of lending professionals will continue to provide the exceptional service and support that StonehamBank Business Clients have come to know and trust.

Bill Olsen can be reached at 781-481-5809 or by email at .

StonehamBank’s Commercial Lending Division is conveniently located at 80 Montvale Avenue in Stoneham. If you are interested in learning more about our commercial programs, please contact Bill Olsen today!

About StonehamBank

StonehamBank believes in making a difference in our community. In addition to providing progressive products and convenience services, the pulse of our organization is our Community Involvement Program and Charitable Foundation. Good corporate citizenship is important in helping to sustain and strengthen the vitality of the communities we serve. We are proud to share this corporate value within our organization and it shows, over the last few years our employees have volunteered over 3200 hours of community service to those in need.

Established in 1887, StonehamBank is a state-chartered, mutually held community bank with a long and established tradition as a leading provider of residential mortgage programs, innovative construction/commercial programs and retail banking products and services. Over the years StonehamBank has consistently remained one of the top providers of home financing in the commonwealth.

StonehamBank products are fully insured and covered by The Federal Deposit Insurance Corporation (FDIC) and the Share Insurance Fund (SIF). For more information, www.stonehambank.com


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