Wellesley Bancorp, Inc. announced that on May 21, 2014, its Board of Directors approved its initial cash dividend to its stockholders. A quarterly cash dividend of $0.025 per common share will be paid on June 18, 2014 to stockholders of record as of the close of business on June 4, 2014.

The company also announced the appointment of Ralph Letner as Chief Lending Officer and Senior Vice President of the Bank. In this role, Letner will be responsible for the leadership and oversight for all commercial and residential lending functions within Wellesley Bank. He will report directly to Fontaine. Letner has more than 28 years of banking experience in the Greater Boston Area, most recently as Senior Vice President/Commercial Team Leader at Boston Private Bank & Trust Company. Previously he served 12 years with Citizens Bank in progressively expanding roles to both small and middle market privately held businesses, with an emphasis on C&I Lending.