8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(D) OF

THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): July 28, 2015

GEORGETOWN BANCORP, INC.

(Exact Name of Registrant as Specified in its Charter)

Maryland	001-35595	80-0817763
(State or Other Jurisdiction	(Commission File No.)	(I.R.S. Employer
of Incorporation)		Identification No.)

2 East Main Street, Georgetown, MA	01833
(Address of Principal Executive Offices)	(Zip Code)

Registrant’s telephone number, including area code: 978-352-8600

Not Applicable

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

o  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 2.02.Results of Operations and Financial Condition

On July 28, 2015 Georgetown Bancorp, Inc. (the “Company”) issued a Press Release disclosing its results of operations and financial condition at and for the three and six months ended June 30, 2015. A copy of the Press Release is included as Exhibit 99.1 to this report. The Company will include final financial statements and additional analyses at and for the period ended June 30, 2015, as part of its Form 10-Q covering that period.

Item 8.01.Other Events

On July 28, 2015, the Board of Directors of the Company also announced a quarterly cash dividend of $0.0475 per share of common stock.  The dividend will be paid on or about August 24, 2015, to stockholders of record as of the close of business on August 10, 2015.

Item 9.01.Financial Statements and Exhibits

(a)Not Applicable.

(b)Not Applicable.

(c)Not Applicable.

(d)Exhibits. The following exhibit is being furnished herewith:

Exhibit No.	Description
99.1	Press release dated July 28, 2015

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.

			GEORGETOWN BANCORP, INC.
DATE: July 28, 2015	By:	/s/ Robert E. Balletto
		Robert E. Balletto
		President and Chief Executive Officer

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EX-99.1

Exhibit 99.1

PRESS RELEASE

Contact Information:

Joseph W. Kennedy, Senior Vice President/CFO

Georgetown Bancorp, Inc.

978-352-8600

joe.kennedy@georgetownbank.com

Georgetown Bancorp, Inc. Reports Earnings

and Announces Quarterly Cash Dividend

GEORGETOWN, MASSACHUSETTS, July 28, 2015 —

Georgetown Bancorp, Inc. (NASDAQ: GTWN) (the “Company”), holding company for Georgetown Bank (the “Bank”), reported net income for the three months ended June 30, 2015 of $363,000, or $0.21 per basic and diluted share, compared to net income of $374,000, or $0.21 per basic and diluted share, for the three months ended June 30, 2014. Net income for the six months ended June 30, 2015 was $613,000, or $0.35 per basic and diluted share, compared to net income of $649,000, or $0.37 per basic and diluted share, for the six months ended June 30, 2014.

Robert E. Balletto, President and Chief Executive Officer, said, “ I am pleased to report that the Company continued to have strong deposit growth, as total deposits have increased $12.9 million, or 7%, primarily in core deposits, during the six months ended June 30, 2015. Additionally, our asset quality continues to be strong, as non-performing assets as a percentage of total assets was 0.35% at June 30, 2015.  We remain focused on our strategic plan, which we believe will enhance long-term stockholder value.”

The Company also announced that its Board of Directors has declared a regular quarterly cash dividend of $0.0475 per share of common stock. The dividend will be paid on or about August 24, 2015, to stockholders of record as of the close of business on August 10, 2015.

Georgetown Bancorp, Inc.

Selected Financial Data

	At or for the			At or for the
	Six Months Ended			Year Ended
	June 30, 2015			December 31, 2014
	(Dollars in thousands, except share data)
Selected Financial Condition Data:
Total assets	$	271,720		$	271,020
Cash and cash equivalents	5,883			4,918
Loans receivable, net	232,431			231,293
Allowance for loan losses	2,234			2,229
Investment securities (1)	21,292			20,363
Deposits	195,259			182,354
Borrowings	42,350			54,600
Total stockholders’ equity	30,897			30,712
Stockholders’ equity to total assets at end of period	11.37		%	11.33		%
Total shares outstanding	1,827,924			1,827,131
Book value per share	$	16.90		$	16.81
Asset Quality Data:
Total non-performing loans	$	959		$	953
Other real estate owned	—			—
Total non-performing assets	959			953
Non-performing loans to total loans	0.41		%	0.41		%
Non-performing assets to total assets	0.35		%	0.35		%
Allowance for loan losses to non-performing loans	232.95		%	233.89		%
Allowance for loan losses to total loans	0.95		%	0.96		%
Loans charged off	$	25		$	269
Recoveries on loans previously charged off	3			4

	Three Months Ended						Six Months Ended
	June 30,						June 30,
	2015			2014			2015			2014
	(Dollars in thousands, except per share data)
Selected Operating Data:
Interest and dividend income	$	2,881		$	2,775		$	5,738		$	5,543
Interest expense	408			364			807			703
Net interest and dividend income	2,473			2,411			4,931			4,840
Provision for loan losses	—			—			27			—
Net interest and dividend income after provision for loan losses	2,473			2,411			4,904			4,840
Non-interest income	243			283			465			526
Non-interest expense	2,142			2,099			4,396			4,336
Income before income taxes	574			595			973			1,030
Income tax provision	211			221			360			381
Net income	$	363		$	374		$	613		$	649
Net income per share: basic	$	0.21		$	0.21		$	0.35		$	0.37
Net income per share: diluted	$	0.21		$	0.21		$	0.35		$	0.37
Performance Ratios:
Return on average assets	0.54		%	0.56		%	0.45		%	0.49		%
Return on average equity	4.80		%	5.19		%	4.06		%	4.50		%
Interest rate spread (2)	3.64		%	3.65		%	3.64		%	3.68		%
Net interest margin (2)	3.81		%	3.77		%	3.79		%	3.80		%
Efficiency ratio (3)	78.86		%	77.93		%	81.45		%	80.81		%
Non-interest expense to average total assets	3.19		%	3.16		%	3.26		%	3.28		%

(1) Does not include Federal Home Loan Bank stock of $2.9 million at June 30, 2015 and December 31, 2014 and Bankers Bank Northeast stock of $60,000 at June 30, 2015.

(2) Presented on a tax-equivalent basis using a tax rate of 34% resulting in an adjustment of $7,000 and $8,000 to investment security income for the three months ended June 30, 2015 and 2014, respectively and $15,000 for the six months ended June 30, 2015 and 2014, respectively.

(3) The efficiency ratio represents non-interest expense divided by the sum of net interest and dividend income and non-interest income.

About Georgetown Bancorp, Inc.

Georgetown Bancorp, Inc. is the holding company for Georgetown Bank. Georgetown Bank, with branch offices in Georgetown, North Andover and Rowley, Massachusetts, is committed to making a positive difference in the markets we serve. Our highest priority is to provide exceptional personal service, act with high ethical standards and in the best interest of our customers, employees, shareholders and business partners.  We strive to help each of our customers achieve their unique financial goals through a competitive array of financial products and services. To learn more about Georgetown Bank, visit www.georgetownbank.com or call 978-352-8600.

Forward-looking statements

This news release may contain certain forward-looking statements, such as statements of the Company’s or the Bank’s plans, objectives, expectations, estimates and intentions. Forward-looking statements may be identified by the use of words such as “expects,” “subject,” “believe,” “will,” “intends,” “will be” or “would.” These statements are subject to change based on various important factors (some of which are beyond the Company’s or the Bank’s control) and actual results may differ materially. Accordingly, readers should not place undue reliance on any forward-looking statements (which reflect management’s analysis of factors only as of the date of which they are given). These factors include general economic conditions, trends in interest rates, the ability of our borrowers to repay their loans, the ability of the Company or the Bank to effectively manage its growth and results of regulatory examinations, among other factors. The foregoing list of important factors is not exclusive. Readers should carefully review the risk factors described in other documents the Company files from time to time with the Securities and Exchange Commission, including Current Reports on Form 8-K.

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