FRANKLIN, MASSACHUSETTS, October 17, 2007

Dean Bank announced it is participating in the Independent Community Bankers of America's (ICBA) National Community Bank Mortgage Week, Nov. 5-9. Nationwide, local community banks will review the mortgage documents of current homeowners, as well as discuss financing options with first-time homebuyers who see an opportunity to own their own home.

“We’re inviting local homeowners and first time homebuyers to come to Dean Bank to let us review your loan documents and discuss financing options,” said Wayne Cottle, President and CEO. “Visit us at our Main Office, located at 21 Main Street in Franklin, and a mortgage expert will be available. Or you can call to set up an appointment at your convenience.”

“There is a lot of confusion about mortgages and home buying right now,” said James P. Ghiglieri, Jr. ICBA chairman and president of Alpha Financial Group, Inc., Toluca, Ill. “Community banks want to help clear up some of that confusion. ICBA National Community Bank Mortgage Week is a great time for homeowners and prospective homebuyers to come into their participating local bank and discuss financing options.”

Mortgage holders can visit their participating community bank for a review of their mortgage documents. Community banks want to help the borrower understand what type of mortgage loan they have – if it’s fixed-rate or adjustable-rate – and if it is an ARM, when the next reset will occur. Community banks are placing a special focus on reaching out to borrowers who have mortgages with terms they don’t understand and wish to have explained by a loan officer they can trust, have an adjustable rate mortgage that is about to reset and need to discuss refinancing options or are considering making their first home purchase.

“Community banks are well run, highly capitalized and highly regulated institutions that are not generally experiencing the credit and funding problems we’re hearing about these days,” said Cottle. “We’re encouraging people to come talk to common sense lenders who have steadfastly observed quality underwriting and will help borrowers find a mortgage that is right for them.”

Dean Bank, founded in 1889, is a Massachusetts state-chartered, mutually owned institution with assets in excess of $200 million. The bank has offices located in Franklin, Blackstone, Bellingham, and Mendon and a full-service educational and training facility at Tri-County Regional Vocational High School in Franklin. As a member of the FDIC and a member of the SIF, the bank’s deposits are insured in full.

The Independent Community Bankers of America, the nation’s voice for community banks, represents 5,000 community banks of all sizes and charter types throughout the United States and is dedicated exclusively to representing the interests of the community banking industry and the communities and customers we serve. For more information, visit www.icba.org.

Tell us…What do you see?
For more information on any of our products and services, to provide us with your comments or feedback, or simply to tell us about your own dreams and visions so that we can help you get there, please use our information request form, or call any of our offices.