Jose B. Guerrero has been elected president of Spencer Savings Bank,
Mr. Guerrero had been executive vice president and chief operating
As president he succeeds Nicholas Lorusso, who has become chairman of
Other senior management promotions include those of Jane E. Allerman,
Mr. Guerrero, an accountant, has been with the thrift since 1983.
Mr. Lorusso joined Spencer Savings in 1964. He was named president and
Ms. Allerman joined the bank in 1993. She had been a field manager and
Mr. Peacock joined Spencer in 1993. He had worked for Hansen Savings,