Legacy Bancorp, Inc. Announces Retirement of Chief Financial Officer

  
    
  
  
    
      Legacy Bancorp, Inc. (the “Company”) 
      (NASDAQ:LEGC), the holding company for Legacy Banks (the “Bank” 
      or “Legacy”) 
      announced today that Stephen M. Conley, Senior Vice President, Treasurer 
      and Chief Financial Officer intends to retire from those positions 
      effective January 1, 2008.
    
    
      At the same time the Company also announced that Paul H. Bruce, its 
      current Senior Vice President, Finance, will be promoted to Chief 
      Financial Officer effective upon Mr. Conley’s 
      retirement. Mr. Bruce has been employed at the Bank for 6 years and 
      prior to his current position served as Vice President, Finance. Since 
      joining Legacy, Mr. Bruce has been responsible for financial reporting, 
      and since the Company’s public offering, 
      S.E.C. reporting and Investor Relations. Mr. Bruce will maintain those 
      responsibilities as C.F.O.
    
    
      J. Williar Dunlaevy, Chairman and Chief Executive Officer, said, “We 
      are extremely grateful to Steve Conley for his strong financial 
      management and many other contributions over the past 32 years. He has 
      represented Legacy extraordinarily well. All of our associates and I 
      will miss our daily interaction with Steve, and we wish him and his 
      family the very best in his retirement.” Mr. 
      Dunlaevy also noted that Mr. Conley was instrumental in managing the Bank’s 
      financial infrastructure during its successful initial public offering 
      in 2005.
    
    
      Mr. Conley has served in his current capacity for the Company since its 
      inception in 2005 and its predecessor, Mutual Bancorp since its 
      inception in 1997, and at the Bank since 1996 at its predecessor, City 
      Savings Bank. Mr. Conley has been employed by the Bank since 1975 in 
      positions of increasing responsibility, including manager of accounting, 
      controller, vice president and treasurer and senior vice president and 
      treasurer.
    
    
      Mr. Conley’s extensive business and community 
      leadership includes director of the Dalton Community Recreation 
      Association, past director of the Berkshire United Way and past 
      president of the Pittsfield Girls Club and Pittsfield Rotary Club. Mr. 
      Conley is a graduate of Bentley College, the University of Massachusetts 
      School of Business (M.B.A.) and the Graduate School of Banking at 
      Fairfield University.
    
    
      Commenting on Mr. Bruce’s appointment as 
      Chief Financial Officer, Mr. Dunlaevy stated, “We 
      are fortunate to have an individual of Paul’s 
      experience and caliber to support our present and future growth and 
      profitability. Paul is a valued member of our executive leadership team 
      and we look forward to his assumption of the additional responsibilities 
      of Chief Financial Officer.”
    
    
      Mr. Bruce is a Certified Public Accountant and is a graduate of the 
      University of Notre Dame in South Bend, IN, Western New England College 
      (M.B.A.), Bryant College (Masters of Science – 
      Taxation), and the Graduate School of Banking at Fairfield University. 
      Mr. Bruce also holds the designations of Certified Management Accountant 
      and Certified Internal Auditor. He has been a member of The Earth Angels 
      cast for the past ten years.
    
    
      Legacy Banks is headquartered in Pittsfield, Massachusetts. It employs 
      186 people and has sixteen offices throughout Berkshire County, 
      Massachusetts and eastern New York, as well as a Loan Production Office 
      in Colonie, New York. Legacy offers Personal Banking, Mortgage Lending, 
      Commercial Services, Insurance, Investments, Portfolio Management, 
      Credit and Debit Card products, and Online Services.
    
    
      FORWARD LOOKING STATEMENTS
    
    
      Certain statements herein constitute “forward-looking 
      statements” within the meaning of the Private 
      Securities Litigation Reform Act of 1995. These statements are based on 
      the beliefs and expectations of management, as well as the assumptions 
      made using information currently available to management. Since these 
      statements reflect the views of management concerning future events, 
      these statements involve risks, uncertainties and assumptions. As a 
      result, actual results may differ from those contemplated by these 
      statements. Forward-looking statements can be identified by the fact 
      that they do not relate strictly to historical or current facts. They 
      often include words like “believe,” 
      “expect,” “anticipate,” 
      “estimate,” and “intend” 
      or future or conditional verbs such as “will,” 
      “would,” “should,” 
      “could” or “may.” 
      Certain factors that could cause actual results to differ materially 
      from expected results include changes in the interest rate environment, 
      changes in general economic conditions, legislative and regulatory 
      changes that adversely affect the businesses in which Legacy Bancorp is 
      engaged and changes in the securities market. Readers are cautioned not 
      to place undue reliance on these forward-looking statements, which speak 
      only as of the date of this release. The Company disclaims any intent or 
      obligation to update any forward-looking statements, whether in response 
      to new information, future events or otherwise.