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Community bank finds paranoid a smart bet
Joseph A. Petrucelli is one of the most cautious bankers in America.

In fact, Petrucelli is so cautious that the Federal Deposit Insurance Corp. recently criticized his bank for not lending enough.

The FDIC’s negative review of East Bridgewater Savings Bank’s loan volume is an anomaly in today’s current banking scene as lenders reel from their role in offering too many cruddy mortgage products to borrowers with weak credit.

Still, the FDIC slapped East Bridgewater Savings with a rare “needs to improve” rating after evaluating the bank under the Community Reinvestment Act....

...And then there’s East Bridgewater Savings.

Bad or delinquent loans?

Zero.

Foreclosures?

None.

Money set aside in 2008 for anticipated loan losses?

Nothing....