UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                    FORM 8-K

                                 CURRENT REPORT

                       PURSUANT TO SECTION 13 OR 15(D) OF
                       THE SECURITIES EXCHANGE ACT OF 1934

       Date of Report (Date of earliest event reported): December 17, 2007

                            GEORGETOWN BANCORP, INC.
                            ------------------------
             (Exact Name of Registrant as Specified in its Charter)

            Federal                      0-51102                 20-2107839
----------------------------      ---------------------      ------------------
(State or Other Jurisdiction      (Commission File No.)       (I.R.S. Employer
       of Incorporation)                                     Identification No.)


2 East Main Street, Georgetown, MA                               01833
-----------------------------------------                     -----------
(Address of Principal Executive Offices)                      (Zip Code)


Registrant's telephone number, including area code: 978-352-8600
                                                    ------------

                                 Not Applicable
                                 --------------
          (Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2. below):

[_]   Written communications pursuant to Rule 425 under the Securities Act (17
      CFR 230.425)

[_]   Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
      240.14a-12)

[_]   Pre-commencement communications pursuant to Rule 14d-2(b) under the
      Exchange Act (17 CFR 240.14d-2(b))

[_]   Pre-commencement communications pursuant to Rule 13e-4(c) under the
      Exchange Act (17 CFR 240.13e-4(c))

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Item 1.01.    Entry into a Material Definitive Agreement.

Item 5.02.    Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

         On December 17, 2007, the Board of Directors of Georgetown Savings Bank
(the "Bank"), the wholly owned savings bank subsidiary of Georgetown Bancorp,
Inc. (the "Company"), adopted individual compensation plans for certain officers
of the Bank. The Board also amended and restated individual incentive plans that
were previously adopted for certain other officers of the Bank. The individual
incentive plans were adopted and amended pursuant to the Bank's Incentive
Compensation Plan, which was previously disclosed as Exhibit 10.7 to the
Company's Annual Report on Form 10-KSB, filed with the SEC on September 28,
2007.

         The individual incentive plan for Robert E. Balletto, President and
Chief Executive Officer of the Bank, and for Joseph W. Kennedy, Senior Vice
President and Chief Financial Officer of the Bank, are attached as Exhibits 10.1
and 10.2, respectively, to this Form 8-K.

         Mr. Balletto's plan provides for a target bonus of $25,000, which is
13.8% of his current salary, with the following performance categories: (i)
achievement of a budgeted return-on-assets (ROA) target; (ii) achievement of a
budgeted commercial loan portfolio growth target; (iii) achievement of certain
specified regulatory goals; (iv) completion of a study on the Bank's retail
banking division; (v) achievement of a profitability target for the Bank's North
Andover Branch; (vi) improvement in branch personnel residential mortgage
referrals; and (vii) improvement in branch office small business lending
capability. The target bonus can be increased on a sliding scale for improvement
in ROA performance above the budgeted target.

         Mr. Kennedy's plan provides for a target bonus of $15,000, which is
12.7% of his current salary, with the following performance categories: (i)
achievement of a budgeted ROA target; (ii) achievement of certain specified
regulatory goals; (iii) implementation of the requirements of Section 404 of the
Sarbanes Oxley Act; (iv) improvement of the yield on the Bank's investment
portfolio and completion of a formal study to improve such yields; and (v)
achievement of a budgeted net interest margin percentage and completion of a
formal study of strategies to improve such margin. The target bonus can be
increased on a sliding scale for improvement in the ROA performance and
improvement in the net interest margin above the budgeted targets.

         The amended and restated individual incentive plans for Charles
Shediac, Senior Vice President and Chief Loan Officer of the Bank, for Joseph
Pollard, Senior Vice President, Retail Banking, and Karen Cohn, Vice President
and Senior Lending Officer of the Bank, are attached as Exhibits 10.3, 10.4 and
10.5, respectively, to this Form 8-K.

         Mr. Shediac's plan and Ms. Cohn's plan provide for a target bonus of
$15,000, which is 10.1% of current salary, and $10,000, which is 9.5% of current
salary, respectively. Each plan has the following performance categories: (i)
achievement of a budgeted target for growth in the Bank's net commercial loan
balances; (ii) improvement in branch personnel residential mortgage referrals;
(iii) improvement in branch office small business lending capability; and (iv)
achievement of a budgeted core interest rate spread percentage. The target
bonuses can be increased on a sliding scale for improvement in net commercial
loan balances and in the core interest rate spread above the budgeted targets.

         Mr. Pollard's plan provides for a target bonus of $15,000, which is
16.7% of his current salary, with the following performance categories: (i)
achievement of a budgeted target for growth in each of the Bank's demand deposit
account balances, NOW account balances, and money market deposit account
balances; (ii) improvement in branch personnel residential mortgage referrals;
(iii) improvement in branch office small business lending capability; (iv)
achievement of a budgeted core interest rate spread percentage; and (v)
achievement of a profitability target for the Bank's North Andover Branch. The
target

<PAGE>

bonus can be increased on a sliding scale for improvement in demand deposit
account balances and NOW account balances, and in the core interest rate spread
above the budgeted targets.

         The individual incentive plans referred to above are filed as Exhibits
hereto, and the foregoing descriptions of such plans are qualified by reference
to the plans themselves.

Item 9.01.    Financial Statements and Exhibits.

       (a)    Not Applicable.

       (b)    Not Applicable.

       (c)    Not Applicable.

       (d)    Exhibits

              10.1     Individual Incentive Plan for Robert E. Balletto
              10.2     Individual Incentive Plan for Joseph W. Kennedy
              10.3     Amended and Restated Individual Incentive Plan for
                       Charles Shediac
              10.4     Amended and Restated Individual Incentive Plan for Joseph
                       Pollard
              10.5     Amended and Restated Individual Incentive Plan for Karen
                       Cohn

                                   SIGNATURES
                                   ----------


         Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned, hereunto duly authorized.

                                       GEORGETOWN  BANCORP, INC.


DATE:  January 3, 2008           By:   /s/ Robert E. Balletto
                                       -----------------------------------------
                                           Robert E. Balletto
                                           President and Chief Executive Officer