Watertown Savings Bank Announces Promotions, State of the Bank

At the 141st annual meeting of the Watertown Savings Bank, President and Chief Operating Officer Brett W. Dean discussed the state  of the bank and announced some promotions.

During the event, held Feb. 1 at the Boston Marriott Hotel in Newton Dean told the gathering of bank officers, managers, corporators and trustees, as of Dec. 31, 2010 the bank has $1 billion in assets and a capital ratio of 8.2 percent, far exceeding minimum regulatory requirements. The total deposits at end of year equaled $930 million and total loans equaled $589 million.

Also, three bank promotions were announced.:

• Nicole J. Biggins was promoted to Vice President. She is the bank’s Controller, overseeing all accounting activities. Responsibilities include asset/liability management, budgeting and strategic planning.
• William J. Disciullo was promoted to Vice President. Disciullo joined the bank in 2005, hired as the bank’s internal audit manager. In addition to continuing as internal audit manager, responsibilities include oversight of all auditing activities and liaison between the bank and the Audit Committee.
• Simon Mzaouakk was promoted to Assistant Vice President. He joined the bank in 2007 as the Network Operations Manager. His role is to manage all bank computer networks and systems with emphasis on information security and cost effective technology. Mzaouakk has 20 years of IT experience, education and training.

One new trustee was sworn in. James A. Sgroi was named a corporator in 2010. Sgroi is the former Chief Financial Officer of the bank.

“Jim successfully steered the bank through a variety of economic times for 18 years,” said Ron Dean, Watertown Saving’s CEO.  “He brings a world of financial expertise to the Board of Trustees and will also serve as a member of the bank’s board of investment.”

In addition, two new corporators were appointed. Virginia A. Gentile is currently a commercial lending officer for WSB. She has held numerous positions in the bank including her work in residential lending. She is a graduate of the New England School for Financial Studies and most recently completed several courses in commercial lending.

Joseph A. Murgo has more than 45 years banking experience. He has worked for Watertown Savings Bank for 14 years, most recently as business development officer.