SIMSBURY, CT – November 22, 2013 – Martin J. Geitz, President and Chief Executive Officer of Simsbury Bank and its holding company, SBT Bancorp, Inc., has been elected to the board of directors of the Federal Home Loan Bank of Boston (“FHLB Boston”). FHLB Boston is one of twelve Federal Home Loan Banks whose mission is to support the residential-mortgage and community-development lending activities of its member financial institutions. Geitz was elected by Connecticut’s 75 bank, credit union and insurance company members of FHLB Boston as their representative on the board.
“The Federal Home Loan Bank of Boston is a vital participant in supporting the funding needs of lenders throughout New England,” said Geitz. “I am committed to representing the interests of Connecticut’s financial institution members of FHLB Boston to ensure that this important institution continues to meet the needs of its Connecticut members.”
Geitz’s four year term on the FHLB Boston board begins in January. He succeeds Mark Macomber, board member and former Chief Executive Officer of Litchfield Bancorp, as Connecticut’s representative. Mr. Macomber was unable to seek reelection due to board membership term limits.
Simsbury Bank is an independent, publicly owned community bank for consumers and businesses based in Central Connecticut’s Farmington Valley. Simsbury Bank’s parent company is SBT Bancorp, Inc. whose stock is traded under the ticker symbol OTCBB: SBTB. The Bank serves customers locally through branches in Avon, Bloomfield, Granby and Simsbury and regionally through mortgage and commercial bankers active throughout Southern New England. Simsbury Bank customers enjoy internet banking and mortgage services at, respectively, www.simsburybank.com and www.simsburybank.com/mortgages. Bank customers have free ATM access at thousands of machines across the country through the SUM program. The Bank offers financial planning, investment and insurance products through LPL Financial and its affiliates, member FINRA/SIPC.
The Federal Home Loan Bank of Boston www.fhlbboston.com is a cooperatively owned wholesale bank for housing finance in the six New England states. Its mission is to support the residential-mortgage and community-development lending activities of its members, which include 449 financial institutions across New England. To accomplish its mission, the Bank utilizes private-sector capital to provide members and other qualified customers with reliable access to low-cost wholesale funds, liquidity, a competitive outlet for the sale of loans, special lending programs, technical assistance, and other products and services.
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