Feb. 21, 2006

Putnam Savings Bank
To Consolidate Plainfield Branch Offices
Return to News Releases

February 21, 2006: Putnam Savings Bank announced today that it will be consolidating its two branch offices in Plainfield to a single office at 11 Pratt Road. Putnam Savings Bank acquired its second branch in Plainfield, located in the Plainfield Parkade on Lathrop Road, as part of the three-branch acquisition from People's Bank in October 2005. The branch located on Lathrop Road will close at the end of business on Friday, March 3. The ATM at that site will also no longer be operational on that date.

The full service Pratt Road location, located just a block from Lathrop Road, provides greater customer convenience in size, visibility and accessibility. The consolidated office offers longer banking hours, including two drive-up windows that open at 8:00 a.m. Monday through Saturday, and lobby hours until 5:00 p.m. each weekday. It is also equipped with a 24-hour drive-up ATM.

"The consolidation of the two Plainfield offices is a natural evolution," said President Bob Cocks. "When we acquired this office from People's Bank we notified customers at that time of our intention to consolidate the two offices. Many of the customers who had been doing business at the Plainfield Parkade office have migrated on their own to our Pratt Road location because of its easier access and extended hours. Opened in 2000, our Plainfield branch office, under the leadership of Branch Manager/Officer Rockie Alix, has been the fastest growing branch in our system. We fully expect that the consolidation will further solidify our position as the community bank of choice in the Plainfield area."

Staff members of the Plainfield Parkade office will be re-assigned to either the Pratt Road branch or to other Putnam Savings Bank offices. Deposits of the combined branch offices total $41 million.