Exhibit 20.2 
 
March 19, 1996 
 
Dear Stockholder: 
 
      The annual stockholders' meeting held on March 11, 1996 at the Venus De 
Milo Restaurant in Swansea, Massachusetts was well attended.  We sincerely 
appreciate your overwhelming support in the adoption of the incentive stock 
option plan and the increase in authorized shares from 3,000,000 to 
5,000,000.  During the meeting, Senior Management and the Board of Directors 
of Weetamoe Bancorp emphasized their commitment to the improvement of 
overall shareholder value through increased earnings and possible expansion 
into other market areas. 
 
      Recently, we received a request to submit a bid for the National Bank of
Fairhaven.  Upon approval by your Directors, Weetamoe Bancorp entered into a 
confidentiality agreement; and  following an evaluation of the quality of 
assets, liabilities, profitability, and the market area of the National Bank 
of Fairhaven, a cash offer was made.   
 
      Your Board is pleased to announce that the offer was accepted by the 
stockholders of Fairbank Inc., and that both parties have signed a letter of 
intent to have Slade's Ferry Bank purchase Fairbank Inc. (National Bank of 
Fairhaven). 
 
      The National Bank of Fairhaven is a $65 Million bank with a main office 
located at Huttleston Avenue in Fairhaven, and a small branch located in 
Walgreens at Pleasant Street in New Bedford, Massachusetts.  The bank draws 
its customers from Fairhaven, New Bedford, Acushnet, Mattapoisett, 
Dartmouth, Marion, Rochester and other outlying communities.  The bank would 
become branches of the Slade's Ferry Bank, with combined assets of 
approximately $300 Million.  It is anticipated that the acquisition will not 
be completed until September, pending regulatory approval. 
 
      We are excited about the opportunity to extend the delivery of our 
financial services to the greater New Bedford marketplace.  This acquisition 
will increase our ability to grow the franchise and provide greater 
shareholder value to you.  We welcome our new employees and customers to our 
family, and pledge to them the same level of service and community support 
that we have become known for. 
 
Sincerely, 
 
 
 
James D. Carey 
Executive Vice President