The acquisition of Athol-Clinton Cooperative Bank in the second quarter of last year yielded immediate dividends for Oxford-based Hometown Bank, helping Hometown achieve record earnings of $3.7 million for the year.

As of Dec. 31, Hometown’s assets totaled more than $302 million, up roughly 36 percent from the end of 2010. At the bank’s annual meeting recently, Hometown President CEO Matthew Sosik attributed most of the growth to the Athol-Clinton acquisition.

"Earnings for 2011 were a new record for the bank, the result of a tremendous amount of hard work by our employees and the good relationships we have built with our customers," Sosik told his employees at the meeting. "Going forward, we are looking forward to the scheduled construction of our new branch in Webster and the development of a proposed location in Auburn."

Also at the meeting, the bank’s shareholders re-elected Sam S. Pappas, Kevin J. Mack and James A. Lake for three-year terms on the board of directors, and Henry J. LaMountain to a one-year term as clerk of the corporation.

New associate directors include: Melissa Baker, Paul Bremer, John Child, Jr., Ernest Cotnoir, Thomas Dubrey, Richard Duplessie, Roland Fitts, Rick Freeman, Peter Gerry, Bryan Givner, Rachel Johnston, Sheldon Katz, Bill Kessler, Paul Larocque, DMD, Gordon Lockbaum, Mark Marzeotti, John Meciak, Stephen Raymond and Richard White.

Hometown Bank has offices located in Athol, South Lancaster, Oxford, Sturbridge and Webster.