Danvers Bancorp, Inc. Names Panella Executive Vice President

DANVERS, Mass.--(Business Wire)--
Danvers Bancorp, Inc. (the "Company") (NASDAQ: DNBK), the holding company for
Danversbank (the "Bank"), today announced the promotion of L. Mark Panella, the
Company`s Chief Financial Officer, from Senior Vice President to Executive Vice
President. Panella is primarily responsible for the Company`s financial
reporting, investor relations, budgeting, insurance contract negotiations and
overall accounting and regulatory compliance.

Panella joined the Bank in 1995 as Senior Vice President and CFO, after spending
five years with Boston Private Bank & Trust in Boston. His experience in banking
dates back over thirty years, and includes not only finance but also core
banking software support.

Panella earned a Bachelors degree in Economics from Dartmouth College in 1978.
He and his wife, Sue, live in Topsfield and are the parents of three children.

Company Profile

Danvers Bancorp, Inc. is the holding company for Danversbank, a
Massachusetts-chartered savings bank headquartered in Danvers, Massachusetts.
Originally founded in 1850 as a Massachusetts-chartered mutual savings bank, we
have grown to $1.7 billion in assets through acquisitions and internal growth,
including de novo branching. We conduct business from our main office located at
One Conant Street, Danvers, Massachusetts, and our 16 other branch offices
located in Andover, Beverly, Boston, Chelsea, Danvers, Malden, Middleton,
Peabody, Reading, Revere, Salem, Saugus, Wilmington, and Woburn, Massachusetts.
Our business consists primarily of making loans to our customers, including
commercial and industrial, commercial real estate loans, owner-occupied
residential mortgages and consumer loans, and investing in a variety of
investment securities. We fund these lending and investment activities with
deposits from our customers; funds generated from operations and selected
borrowings. We also provide non-deposit investment products and services, cash
management, debit and credit card products and online banking services.
Additional information about the Company and its subsidiaries is available at
www.danversbank.com.

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 and the risk factors described in the Company`s December
31, 2007 Form 10-K, issued March 28, 2008, as updated by our Quarterly Reports
on Form 10-Q, that adversely affect the business in which Danvers 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 and the associated conference call. The Company disclaims
any intent or obligation to update any forward-looking statements, whether in
response to new information, future events or otherwise.

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Danvers Bancorp, Inc.
Kevin T. Bottomley, 978-739-0263
President and CEO
kevin.bottomley@danversbank.com
or
L. Mark Panella, 978-739-0217
Chief Financial Officer
mark.panella@danversbank.com

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