Belmont Savings Bank Announces New Branch Inside Shaw's

WALTHAM, Mass., Feb. 8, 2012 /PRNewswire/ -- BSB Bancorp, Inc., the holding company for Belmont Savings Bank, today announced a partnership with Shaw's Supermarket to open an in-store branch at Shaw's location at 1070 Lexington Street in Waltham. The target open date for the new in-store branch is May 1st.

This branch, which represents Belmont's first expansion in a decade, will be a full service bank branch and the bank's first Waltham branch. Opening an in-store supermarket branch is the latest in a series of announcements by Belmont Savings Bank to provide customers with increased convenience and technology competitive with the largest banks. Previous announcements include the launch of online banking, mobile banking and bill pay services.

"We are proud to be partnering with Shaw's Supermarket, and bringing The Belmont Savings Platinum Blue Relationship Banking program to Waltham," said Bob Mahoney, President and Chief Executive Officer of Belmont Savings Bank. "In today's world, convenience and technology matters, and that is why we've been able to grow - we combine local service with all the same online banking of a large bank, allowing our customers to bank with us when and where it works for them."

With Belmont Savings Platinum Blue Checking product, customers also get unlimited access to any bank's ATM anywhere at no charge which allows Belmont Savings to compete with even the largest banks. As a result, BSB Platinum Blue checking customers can claim access to more ATMs than any bank.

During the bank's conversion from a mutual bank to a stock-ownership holding company last summer, branch growth was listed in the bank's prospectus. The Waltham announcement continues the bank's planned expansion of its branch network, bringing the total number of branches in the Belmont-Watertown-Waltham area to five. Bank officials pointed to the in-store branch as the next logical step for the bank.

"A key component of Belmont Savings Bank's growth has been its partnerships with community businesses. In doing our first partnership with Shaw's, we will be able to reach to 16,000 potential prospects each week," said Hal Tovin, Chief Operating Office of Belmont Savings Bank and one of the pioneers behind the in-store branch program during his time at Citizens Bank. "We are very excited at the prospect of being able to expand our footprint to the Waltham marketplace."

The branch will have five staff members, a business banking officer, two ATMs and a night deposit drop off for businesses. The branch will be open six days per week with extended hours: Monday – Friday, 10 a.m. – 7 p.m., Saturday, 10 a.m. - 5 p.m.

"As a neighborhood grocer, Shaw's is committed to delivering a quality shopping experience to meet the needs of our local community," said Mike Stigers, president, Shaw's.  "Working with local companies is important to us, which is why we are partnering with Belmont Savings Bank, a community bank that we know will be an invaluable service to our customers."

About Belmont Savings Bank:

Belmont Savings Bank is a $680 million, full-service community mutual bank dedicated to quality, convenience, and personalized service. The Bank builds on a proud history of financial strength and a tradition of active involvement in the community. BSB provides a full range of banking services for individuals, local small businesses, and real estate developers through three full-service offices in Belmont, and one full-service office in Watertown. Find out more information by visiting: https://www.belmontsavings.com or Like Belmont Savings on Facebook at http://www.facebook.com/BelmontSavingsBank. Member FDIC. Member DIF.

ABOUT SHAW'S SUPERMARKETS
Shaw's, Osco and Star Market are part of the nationwide SUPERVALU® INC. (NYSE: SVU) family of grocery stores.  Shaw's is one of the oldest continuously operated supermarkets in the United States with its roots dating to 1860. Throughout five New England states, there are 169 store locations employing approximately 21,000 associates. For more information about Shaw's, visit the all-new web site at: www.shaws.com.                             

Contact: Andy Hoglund
(617) 391-9644

SOURCE BSB Bancorp, Inc.