Newtown Saving Bank Promotes Martocci And Trentacosta

The Board of Trustees of Newtown Savings Bank announced that John J. Martocci has been promoted to chairman and chief executive officer and John F. Trentacosta has been appointed president and treasurer.

Mr Martocci joined the bank as president and chief operating officer in June of 1993 and became the president and CEO in 1994. Since that time, he has led the organization from a mortgage lender with six locations and $250 million in assets to a full service diversified commercial banking organization with nine locations, $570 million in assets, plus $330 million of mortgage loans serviced for others.

He assumes the position of chairman previously held by the late James Osborne.

“Jim Osborne was a great leader and chairman of our organization, I am honored to be following him and I am humbled by the confidence that the board has placed in me to guide this bank in the years to come,” Mr Martocci said.

Mr Trentacosta joined the bank in June 1998 as senior vice president/comptroller and became the senior executive vice president and CFO in January of 2003.

As president of the bank, Mr Trentacosta’s duties will be expanded to handle more of the bank’s operating functions. As treasurer, he will retain the responsibilities of chief financial officer.

“John Trentacosta has been instrumental in changing our organization into a diversified organization that provides a full range of services to the residents and businesses in the communities we serve. John’s initiatives have greatly improved the organization and the management tools that have enabled us to grow and manage our business,” Mr Martocci said.

“We have a very good management team and this move enhances our ability to continue to provide the banking services and products that make us The Bank You Keep For Life,” he said.