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Federal Savings Bank appoints new president

Note: Jim Hastings is a1974 accountancy graduate from the University of Notre Dame

October 22, 2007


Edward Lemos, VMD, chairman of the board of directors at Federal Savings Bank, announces the appointment of Jim Hastings as the bank’s new President and CEO. Hastings succeeds Peter Hamblett, who announced his retirement after 40-plus years in the banking business, the last 12 with Federal Savings Bank.

"We are very pleased to announce the addition of Jim Hastings. With over 20 years of banking experience and strong leadership skills, he will be an asset to our employees, customers and the community," said Lemos. "We also want to thank Pete for his years of outstanding service to the bank and wish him the very best in his retirement," he added.

A graduate of the University of Notre Dame, where he earned a bachelor’s degree in accounting, Hastings joined the accounting firm of Arthur Andersen & Co. As a Certified Public Accountant, he serviced banking clients throughout New England for five years before transferring to the firm’s Seattle office. He furthered his education, earning an M.B.A. degree in finance from the University of Washington, and soon after began his West Coast banking career with Seafirst Corporation. He most recently served as senior vice president and director of mortgage banking for the Cape Cod Five Cents Savings Bank in Orleans, Mass. Prior to joining Cape Cod Five, Hastings served as chief financial officer for Heritage Financial Corporation in Olympia, Wash.

Hastings has been active in community service for many years, most recently participating in the Pan Mass Challenge, a fund-raiser for cancer research. Hastings and his wife, Jane, have six children and are looking forward to relocating to the Seacoast area.

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Since 1890, Federal Savings Bank has operated as a true community bank, a "mutual" bank owned by its depositors. The bank has offices in Dover, Barrington, Durham, and Portsmouth. For information, call (800) 462-2265.