Message from the President

Welcome to Winchester Savings Bank, an independent, mutually chartered institution founded in 1871. Because our trustees, corporators, officers and staff all live locally, we understand the financial needs of local consumers and businesses. We take great pride in offering a comprehensive package of value-added products and services, as well as personalized "hometown" service.

As we continue through this extremely turbulent economic period, it is important that our existing and prospective customers know that -

• Winchester Savings Bank's capital ratios remain well above those required to be considered a well-capitalized institution by the regulatory authorities.
• Winchester Savings Bank has not done, nor does it do, sub-prime loans. The credit problems that have plagued many of the country's larger financial institutions have had no impact on us.
• All deposits at Winchester Savings Bank are insured in full by the FDIC and the DIF. No depositor has ever lost a penny in a bank insured by both the FDIC and the DIF.
• While other institutions have stopped or dramatically cut back on their lending activities, Winchester Savings Bank has money to lend to both individuals and business owners.

In early 2009, we opened the Dwinell branch, named after our beloved late-Chairman, at 188 Medford Street in Arlington. I am thrilled to report that it is off to a great start. The citizens and business owners of this vibrant community welcomed us with open arms, and we look forward to a long and mutually beneficial relationship with them.

If you are looking for a safe place to deposit your hard-earned money, or you need funds to buy a home, pay for college, or start a business, I urge you to give us a try. I believe you will enjoy dealing with a true community bank.

On behalf of the entire bank family, I extend to you my sincere wishes for a healthy and prosperous 2010.

Peter J. Segerstrom
President and C.E.O.

Comparative Statement of Condition