GTWN Georgetown Bancorp, Inc.

Georgetown Bancorp, Inc. (NASDAQ: GTWN) (the “Company”), holding company for Georgetown Bank (the “Bank”), reported net income for the three months ended June 30, 2015 of $363,000, or $0.21 per basic and diluted share, compared to net income of $374,000, or $0.21 per basic and diluted share, for the three months ended June 30, 2014. Net income for the six months ended June 30, 2015 was $613,000, or $0.35 per basic and diluted share, compared to net income of $649,000, or $0.37 per basic and diluted share, for the six months ended June 30, 2014.

Robert E. Balletto, President and Chief Executive Officer, said, “I am pleased to report that the Company continued to have strong deposit growth, as total deposits have increased $12.9 million, or 7%, primarily in core deposits, during the six months ended June 30, 2015. Additionally, our asset quality continues to be strong, as non-performing assets as a percentage of total assets was 0.35% at June 30, 2015. We remain focused on our strategic plan, which we believe will enhance long-term stockholder value.”

The Company also announced that its Board of Directors has declared a regular quarterly cash dividend of $0.0475 per share of common stock. The dividend will be paid on or about August 24, 2015, to stockholders of record as of the close of business on August 10, 2015.

  Georgetown Bancorp, Inc. Selected Financial Data                   At or for the At or for the Six Months Ended Year Ended June 30, 2015 December 31, 2014 (Dollars in thousands, except share data) Selected Financial Condition Data: Total assets $ 271,720 $ 271,020 Cash and cash equivalents 5,883 4,918 Loans receivable, net 232,431 231,293 Allowance for loan losses 2,234 2,229 Investment securities (1) 21,292 20,363 Deposits 195,259 182,354 Borrowings 42,350 54,600   Total stockholders' equity 30,897 30,712 Stockholders' equity to total assets at end of period 11.37% 11.33% Total shares outstanding 1,827,924 1,827,131 Book value per share $ 16.90 $ 16.81   Asset Quality Data: Total non-performing loans $ 959 $ 953 Other real estate owned - - Total non-performing assets 959 953 Non-performing loans to total loans 0.41% 0.41% Non-performing assets to total assets 0.35% 0.35% Allowance for loan losses to non-performing loans 232.95% 233.89% Allowance for loan losses to total loans 0.95% 0.96% Loans charged off $ 25 $ 269 Recoveries on loans previously charged off 3 4   Three Months Ended Six Months Ended June 30, June 30,   2015   2014   2015   2014 (Dollars in thousands, except per share data) Selected Operating Data: Interest and dividend income $ 2,881 $ 2,775 $ 5,738 $ 5,543 Interest expense   408   364   807   703 Net interest and dividend income 2,473 2,411 4,931 4,840 Provision for loan losses   -   -   27   -

Net interest and dividend income after provision for loan losses

2,473 2,411 4,904 4,840 Non-interest income 243 283 465 526 Non-interest expense   2,142   2,099   4,396   4,336 Income before income taxes 574 595 973 1,030 Income tax provision   211   221   360   381 Net income $ 363 $ 374 $ 613 $ 649   Net income per share: basic $ 0.21 $ 0.21 $ 0.35 $ 0.37 Net income per share: diluted $ 0.21 $ 0.21 $ 0.35 $ 0.37   Performance Ratios: Return on average assets 0.54% 0.56% 0.45% 0.49% Return on average equity 4.80% 5.19% 4.06% 4.50% Interest rate spread (2) 3.64% 3.65% 3.64% 3.68% Net interest margin (2) 3.81% 3.77% 3.79% 3.80% Efficiency ratio (3) 78.86% 77.93% 81.45% 80.81% Non-interest expense to average total assets 3.19% 3.16% 3.26% 3.28%  

(1) Does not include Federal Home Loan Bank stock of $2.9 million at June 30, 2015 and December 31, 2014 and Bankers Bank Northeast stock of $60,000 at June 30, 2015.(2) Presented on a tax-equivalent basis using a tax rate of 34% resulting in an adjustment of $7,000 and $8,000 to investment security income for the three months ended June 30, 2015 and 2014, respectively and $15,000 for the six months ended June 30, 2015 and 2014, respectively.(3) The efficiency ratio represents non-interest expense divided by the sum of net interest and dividend income and non-interest income.

About Georgetown Bancorp, Inc.

Georgetown Bancorp, Inc. is the holding company for Georgetown Bank. Georgetown Bank, with branch offices in Georgetown, North Andover and Rowley, Massachusetts, is committed to making a positive difference in the markets we serve. Our highest priority is to provide exceptional personal service, act with high ethical standards and in the best interest of our customers, employees, shareholders and business partners. We strive to help each of our customers achieve their unique financial goals through a competitive array of financial products and services. To learn more about Georgetown Bank, visit www.georgetownbank.com or call 978-352-8600.

Forward-looking statements

This news release may contain certain forward-looking statements, such as statements of the Company’s or the Bank’s plans, objectives, expectations, estimates and intentions. Forward-looking statements may be identified by the use of words such as “expects,” “subject,” “believe,” “will,” “intends,” “will be” or “would.” These statements are subject to change based on various important factors (some of which are beyond the Company’s or the Bank’s control) and actual results may differ materially. Accordingly, readers should not place undue reliance on any forward-looking statements (which reflect management’s analysis of factors only as of the date of which they are given). These factors include general economic conditions, trends in interest rates, the ability of our borrowers to repay their loans, the ability of the Company or the Bank to effectively manage its growth and results of regulatory examinations, among other factors. The foregoing list of important factors is not exclusive. Readers should carefully review the risk factors described in other documents the Company files from time to time with the Securities and Exchange Commission, including Current Reports on Form 8-K.

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Georgetown Bancorp, Inc.Joseph W. Kennedy, 978-352-8600Senior Vice President/CFOjoe.kennedy@georgetownbank.com