Whitman, MA / March 5, 2003 - David W. Cogan, President and Chief Executive Officer of Mutual Federal Savings Bank, has announced the following additions to the bank’s management team:

	Richard Spencer has been appointed Treasurer of the bank. In his newly-created position, he is responsible for the operations and finance areas of the bank. Mr. Spencer joined the bank from Wolf and Company, a public accounting and business consulting firm, where he served as a senior accountant in the bank audit division. He holds a bachelor of accounting degree from Ithaca College. Mr. Spencer resides with his wife and son in Pembroke.
	Melissa LaPorte has joined Mutual Federal Savings Bank as manager of the Carver branch office. Prior to joining the bank she was with Ivax Laboratories in the pharmaceutical sales division. She holds a bachelors degree in business management from Curry College. Ms. LaPorte served eight years as a combat medic in the U.S. Army Reserves and the National Guard. She is a Plymouth resident who enjoys hiking and camping in her spare time.
	Vincent Loycano has joined the lending division of Mutual Federal Savings with responsibilities for underwriting and new business development, specializing in mortgage lending and construction financing. He brings over twenty years’ experience in retail banking and lending in the Plymouth County area. He is a graduate of the Massachusetts Bankers School of Commercial Lending. Mr. Loycano is a past chair of the Whitman Board of Appeals, and has served as committee chair for Old Colony United Way. He is a long-time resident of Whitman.

About Mutual Federal Savings Bank
Mutual Federal Savings Bank is an independent, mutually-owned savings bank serving the community’s personal banking needs, with full-service offices in Whitman, Hanson, Halifax, and Carver. The Bank has operated continuously as an independent, local institution since 1889. Mutual Federal Savings Bank provides core financial services to individuals, with a special focus on meeting the needs and interests of members of the communities they serve. The main office of Mutual Federal Savings Bank is located at 570 Washington Street in Whitman, MA. For additional information on the services they provide visit www.mutualfederal.com or call Christine Grundy, Director of Marketing, at 781-447-4488.