UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION

                             WASHINGTON, D.C. 20549

                                   FORM 10-QSB

(Mark One)
   X     QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF
------
                       THE SECURITIES EXCHANGE ACT OF 1934

         For the quarterly period ended September 30, 2005

                                       OR

         TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF
                  THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from _____ to _____

                         Commission File Number: 0-51102

                            GEORGETOWN BANCORP, INC.
        (Exact name of small business issuer as specified in its charter)

            Federal                                            20-2107839
(State or other jurisdiction of                             (I.R.S. Employer
incorporation or organization)                             Identification No.)

2 East Main Street, Georgetown, MA                               01833
(Address of principal executive office)                        (Zip Code)

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


Indicate by check whether the registrant: (1) has filed all reports required to
be filed by Sections 13 or 15(d) of the Securities Exchange Act of 1934 during
the preceding 12 months (or for shorter period that the registrant was required
to file such reports), and (2) has been subject to such filing requirements for
the past 90 days. Yes  X   No
                      ---     ---

Indicate by checkmark whether the registrant is a shell company (as defined in
Rule 12b-2 of the Exchange Act). Yes      No  X
                                     ---     ---

Indicate by check whether the registrant is an accelerated filer (as defined in
Rule 12b-2 of the Exchange Act).  Yes      No  X
                                      ---     ---

Indicate the number of shares outstanding of the registrant's common stock, as
of the latest practicable date: Common Stock, $0.10 par value, 2,777,250 shares
outstanding as of November 10, 2005.
         Transitional Small Business Disclosure Format:  YES      NO  X
                                                             ---     ---


<PAGE>
                                   Form 10-QSB

                            GEORGETOWN BANCORP, INC.
                                Table of Contents

Part I.  Financial Information                                              Page

Item 1:  Financial Statements (Unaudited)

         Consolidated Statements of Financial Condition as of
          September 30, 2005 and June 30, 2005                                1
         Consolidated Statements of Operations for the Three
          Months Ended September 30, 2005 and 2004                            2
         Consolidated Statements of Changes in Retained Earnings for
          the Three Months Ended September 30, 2005 and 2004                  3
         Consolidated Statements of Cash Flows for the Three
          Months Ended September 30, 2005 and 2004                            4
         Notes to Condensed Consolidated Financial Statements                 6

Item 2:  Management's Discussion and Analysis of Financial
          Condition and Results of Operations                                 8

Item 3:  Controls and Procedures                                              9

Part II. Other Information

Item 1: Legal Proceedings                                                    10
Item 2: Unregistered Sales of Equity Securities and Use of Proceeds          10
Item 3: Defaults upon Senior Securities                                      10
Item 4: Submission of Matters to a Vote of Security Holders                  10
Item 5: Other Information                                                    10
Item 6: Exhibits and Reports on Form 8-K                                     10

SIGNATURES                                                                   11



<PAGE>
                            GEORGETOWN BANCORP, INC.
                        STATEMENTS OF FINANCIAL CONDITION
                        ---------------------------------
                                   (unaudited)
                                     ASSETS
<TABLE>
<CAPTION>
                                                                                         At                      At
                                                                                    September 30,             June 30,
                                                                                        2005                    2005
                                                                                   --------------          --------------
                                                                                   (In thousands)          (In thousands)
<S>                                                                                <C>                     <C>
Cash and due from banks                                                            $        2,838          $        1,887
Short-term investments                                                                      2,180                   3,191
                                                                                   --------------          --------------
               Total cash and cash equivalents                                              5,018                   5,078

Securities available for sale, at fair value                                               18,947                  16,814
Securities held to maturity, at amortized cost                                             11,150                  12,380
Federal Home Loan Bank stock, at cost                                                       2,686                   2,526
Loans, net of allowance for loan losses of $917,000
  at September 30, 2005 and $882,000 at June 30, 2005                                     117,245                 114,781
Premises and equipment, net                                                                 4,858                   4,885
Accrued interest receivable                                                                   674                     680
Bank-owned life insurance                                                                   1,177                   1,166
Other assets                                                                                  754                     717
                                                                                   --------------          --------------

               Total assets                                                        $      162,509          $      159,027
                                                                                   ==============          ==============
                      LIABILITIES AND STOCKHOLDERS' EQUITY

Deposits                                                                           $       89,829          $       90,336
Short-term borrowings                                                                      30,400                  28,350
Long-term Federal Home Loan Bank advances                                                  19,956                  18,468
Securities sold under agreements to repurchase                                                843                     989
Mortgagors' escrow accounts                                                                   323                     268
Accrued expenses and other liabilities                                                      1,943                   1,331
                                                                                   --------------          --------------
               Total liabilities                                                          143,294                 139,742
                                                                                   --------------          --------------
Stockholders' equity:
Preferred stock, $0.10 par value per share:  1,000,000
 shares authorized; none outstanding                                                            -                       -
Common Stock, $0.10 par value per share: 10,000,000
 shares authorized; 2,777,250 shares issued and outstanding                                   278                     278
Additional paid-in capital                                                                 11,452                  11,452
Retained earnings                                                                           8,416                   8,383
Accumulated other comprehensive loss                                                         (137)                    (17)
Unearned compensation - ESOP                                                                 (794)                   (811)
                                                                                   --------------          --------------
               Total stockholders' equity                                                  19,215                  19,285
                                                                                   --------------          --------------

               Total liabilities and stockholders' equity                              $  162,509              $  159,027
                                                                                   ==============          ==============
See notes to condensed consolidated financial statements.
</TABLE>

                                       1
<PAGE>
                            GEORGETOWN BANCORP, INC.
                            STATEMENTS OF OPERATIONS
                            ------------------------
                                   (unaudited)
<TABLE>
<CAPTION>

                                                                               Three Months Ended
                                                                         September 30,        September 30,
                                                                             2005                 2004
                                                                         -------------        -------------
                                                                                   (In thousands)
Interest and dividend income:
<S>                                                                      <C>                  <C>
    Loans, including fees                                                $      1,595         $      1,380
    Investment interest and dividends                                             331                  247
    Short-term investments                                                         30                    5
                                                                         -------------        -------------
               Total interest and dividend income                               1,956                1,632
                                                                         -------------        -------------

Interest expense:
    Deposits                                                                      408                  326
    Federal Home Loan Bank advances                                               462                  274
    Securities sold under agreements to repurchase                                  2                    2
                                                                         -------------        -------------
               Total interest expense                                             872                  602
                                                                         -------------        -------------

Net interest income                                                             1,084                1,030
Provision for loan losses                                                          33                   18
                                                                         -------------        -------------
Net interest income, after provision for loan losses                            1,051                1,012
                                                                         -------------        -------------

Non-interest income:
    Customer service fees                                                          92                   81
    Loss on sale of securities available for sale                                   -                   (2)
    Income from bank-owned life insurance                                          11                   11
    Other                                                                           6                    8
                                                                         -------------        -------------
               Total non-interest income                                          109                   98
                                                                         -------------        -------------

Non-interest expenses:
    Salaries and employee benefits                                                653                  492
    Occupancy and equipment expenses                                              170                  152
    Data processing expenses                                                       57                   70
    Professional fees                                                              85                   41
    Advertising expense                                                            10                   31
    Other general and administrative expenses                                     135                  130
                                                                         -------------        -------------
               Total non-interest expenses                                      1,110                  916
                                                                         -------------        -------------

Income before income taxes                                                         50                  194

Income tax expense                                                                 16                   67
                                                                         -------------        -------------

Net income                                                               $         34         $        127
                                                                         =============        =============
Earnings per share:
Basic                                                                           $0.01             N/A
Diluted                                                                         $0.01             N/A

See notes to condensed consolidated financial statements.
</TABLE>

                                       2
<PAGE>
                            GEORGETOWN BANCORP, INC.
                  STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY
                  ---------------------------------------------
                                   (unaudited)
<TABLE>
<CAPTION>
                                                                                  Accumulated
                                                           Additional               Other
                                                             Paid-in   Retained  Comprehensive    Unearned
                                             Common Stock    Capital   Earnings  Income (Loss)  Compensation    Total
                                             ------------  ----------  --------  -------------  ------------  ---------
                                                                           (In thousands)

<S>                                          <C>           <C>         <C>       <C>            <C>           <C>
Balance at June 30, 2004                     $         -   $       -   $ 8,171   $       (102)  $         -   $  8,069
                                                                                                              ---------

Comprehensive income (loss):
  Net income                                                               127                                     127
  Change in unrealized gain (loss)
   on securities available for sale,
   net of reclassification adjustments
   and tax effects                                                                         98                       98
                                                                                                              ---------
       Total comprehensive income (loss)                                                                           225
                                             ------------  ----------  --------  -------------  ------------  ---------

Balance at September 30, 2004                $         -   $       -   $ 8,298   $         (4)  $          -  $  8,294
                                             ============  ==========  ========  =============  ============  =========

Balance at June 30, 2005                     $       278   $  11,452   $ 8,383   $        (17)  $      (811)  $ 19,285

Comprehensive income (loss):
  Net income                                                                34                                      34
  Change in unrealized gain (loss)
   on securities available for sale,
   net of reclassification adjustments
   and tax effects                                                                                     (120)      (120)
                                                                                                              ---------
       Total comprehensive income (loss)                                                                           (86)
                                                                                                              ---------

Common stock held by ESOP commtted to
  to be allocated (20,565 shares)                                           (1)                          17         16
                                             ------------  ----------  --------  -------------  ------------  ---------

Balance at September 30, 2005                $       278   $  11,452   $ 8,416   $       (137)  $      (794)  $ 19,215
                                             ============  =========   ========  =============  ============  =========

See notes to condensed consolidated financial statements.
</TABLE>
                                       3
<PAGE>
                         GEORGETOWN BANCORP, INC.
                         STATEMENTS OF CASH FLOWS
                                (unaudited)
<TABLE>
<CAPTION>
                                                                                           Three Months Ended
                                                                                  September 30,         September 30,
                                                                                      2005                  2004
                                                                                  -------------         -------------
                                                                                              (In thousands)
Cash flows from operating activities:
<S>                                                                               <C>                   <C>
Net Income                                                                        $         34          $        127
    Adjustments to reconcile net income to net cash
        provided by operating activities:
            Provision for loan losses                                                       33                    18
            Loss on impairment of securities available for sale                              -                     2
           (Accretion) amortization of securities, net                                     (14)                    3
           (Accretion) amortization of deferred loan costs                                  18                    (5)
            Depreciation and amortization expense                                           97                    92
           Decrease (increase) in accrued interest receivable                                6                   (85)
            Income from bank-owned life insurance                                          (11)                  (11)
ESOP compensation expense                                                                   16                     -
            Other, net                                                                     147                  (225)
                                                                                  -------------         -------------
                  Net cash provided (used) by operating activities                         326                   (84)
                                                                                  -------------         -------------

Cash flows from investing activities:
    Activity in available-for-sale securities:
        Maturities, prepayments and calls                                                1,181                   327
        Purchases                                                                       (3,000)               (1,497)
        Proceeds on sales of securities                                                      -                   197
    Activity in held-to-maturity securities:
        Maturities, prepayments and calls                                                1,238                   520
        Purchases                                                                            -               (10,917)
    Purchase of Federal Home Loan Bank stock                                              (160)                 (756)
    Loan originations, net of amortization and payoffs                                  (2,515)               (6,270)
    Purchase of premises and equipment                                                     (70)                  (21)
                                                                                  -------------         -------------
                 Net cash used by investing activities                                  (3,326)              (18,417)
                                                                                  -------------         -------------
See notes to condensed consolidated financial statements.
</TABLE>
                                       4
<PAGE>
                            GEORGETOWN BANCORP, INC.
                            STATEMENTS OF CASH FLOWS
                            ------------------------
                                   (unaudited)
                                   (continued)
<TABLE>
<CAPTION>

                                                                                         Three Months Ended
                                                                                  September 30,         September 30,
                                                                                      2005                  2004
                                                                                  -------------         -------------
                                                                                             (In thousands)
Cash flows from financing activities:
<S>                                                                                       <C>                  <C>
    Net (increase) decrease in deposits                                                   (507)                7,541
    Net (increase) decrease in securities sold under agreements
         to repurchase                                                                    (146)                   72
    Net change in borrowings with maturities of  three
months or less                                                                          (8,100)               11,110
    Proceeds of Federal Home Loan Bank advances
        with maturities greater than three months                                       18,150                     -
    Repayments of Federal Home Loan Bank advances
        with maturities greater than three months                                       (6,512)                 (511)
    Net change in mortgagors' escrow accounts                                               55                    56
                                                                                  -------------         -------------
                  Net cash provided by financing activities                              2,940                18,268

Net change in cash and cash equivalents                                                  3,266                18,184

Cash and cash equivalents at beginning of year                                           5,078                 3,708

Cash and cash equivalents at end of year                                          $      8,344          $     21,892

Supplementary information:
Interest paid on deposit accounts                                                 $        408          $        326
Interest paid on Federal Home Loan Bank advances                                           462                   274
Interest paid on securities sold under agreement
to repurchase                                                                                2                     2
Income taxes paid, net of refunds                                                           14                     -
Due to broker                                                                              500                     -

See notes to condensed consolidated financial statements.
</TABLE>

                                       5
<PAGE>
                            GEORGETOWN BANCORP, INC.

              NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS


1.   BASIS OF PRESENTATION

The accompanying unaudited financial statements were prepared in accordance with
instructions  for Form 10-QSB and Regulation S-X and do not include  information
or footnotes  necessary  for a complete  presentation  of  financial  condition,
results of  operations,  and cash flows in conformity  with  generally  accepted
accounting  principles.  However, in the opinion of management,  all adjustments
(consisting of normal recurring  adjustments)  necessary for a fair presentation
of the financial  statements  have been included.  The results of operations for
the three-month  period ended September 30, 2005 are not necessarily  indicative
of the results that may be expected for the entire fiscal year.  These financial
statements should be read in conjunction with the financial statements and notes
thereto included in the 2005 Consolidated  Financial Statements presented in the
Company's  Annual  Report on Form 10-KSB  filed at the  Securities  and Exchange
Commission on September 28, 2005. The consolidated  financial statements include
the  accounts  of  Georgetown  Savings  Bank and its  wholly  owned  subsidiary,
Georgetown  Securities  Corporation,  which  engages in the buying,  selling and
holding of securities.  All significant  inter-company balances and transactions
have been eliminated in consolidation.

Critical Accounting Policies

Our critical accounting  policies are those that involve  significant  judgments
and assumptions by management and that have, or could have, a material impact on
our income or the carrying value of our assets. Our critical accounting policies
are those  related to our  allowance  for loan losses.  The  allowance  for loan
losses is the amount estimated by management as necessary to cover credit losses
inherent in the loan  portfolio  at the balance  sheet date.  The  allowance  is
established  through  the  provision  for loan  losses  that is charged  against
income.  Management  performs a  quarterly  evaluation  of the  adequacy  of the
allowance for loan losses. We consider a variety of factors in establishing this
estimate including, but not limited to, current economic conditions, delinquency
statistics,  geographic  and  industry  concentrations,   the  adequacy  of  the
underlying  collateral,  the  financial  strength  of the  borrower,  results of
internal and external loan reviews and other relevant  factors.  This evaluation
is inherently  subjective,  as it requires material estimates by management that
may be susceptible to significant change.

The  analysis  has  three  components:  specific,  general,  and an  unallocated
component.  The specific  component  relates to loans that are  determined to be
impaired.  Impairment is measured by  determining  the present value of expected
future  cash flows or,  for  collateral-dependent  loans,  the fair value of the
collateral  adjusted for market  conditions  and selling  expenses.  The general
component is determined by segregating the remaining loans by type of loan, risk
weighting (if applicable) and payment history.  We also analyze  historical loss
experience,  delinquency trends,  general economic conditions and geographic and
industry  concentrations.  This analysis establishes factors that are applied to
the loan  groups  to  determine  the  amount  of the  general  component  of the
allowance  for loan losses.  An  unallocated  component is  maintained  to cover
uncertainties  that could affect  management's  estimate of probable losses. The
unallocated  component  of the  allowance  reflects  the  margin of  imprecision
inherent in the underlying  assumptions used in the methodologies for estimating
losses in the  portfolio,  because  regardless  of the extent of our analysis of
customer  performance,  portfolio trends or risk management  processes,  certain
inherent but undetected  losses are probable within our loan portfolio.  This is
due to several  factors,  including  inherent  delays in  obtaining  information
regarding a customer's  financial  condition  or changes in a customer's  unique
business  conditions,  the  judgmental  nature of individual  loan  evaluations,
collateral assessments and the interpretation of economic trends.  Volatility of
economic  or  customer-specific  conditions  affecting  the  identification  and
estimation of losses from larger non-homogeneous  credits and the sensitivity of
assumptions  utilized to establish  allowances for homogeneous  groups of loans,
loan portfolio  concentrations,  and other subjective  considerations  are among
other factors.  Because of the  imprecision  surrounding  these factors,  we may
maintain  an  unallocated  component  available  for other  factors  that is not
allocated to a specific loan category.

Actual  loan  losses  may be  significantly  more  than the  allowances  we have
established  which  could  have a  material  negative  effect  on our  financial
results.


2.   NET INCOME PER COMMON SHARE

     Basic and  diluted  net income per common  share  (EPS)  represents  income
     available to common stockholders  divided by the weighted average number of
     common shares  outstanding.  Employee  stock  ownership plan (ESOP) shares,
                                       6
<PAGE>
     which are committed to be released,  are considered  outstanding  for basic
     and diluted EPS. Basic and diluted EPS are not  calculated for 2004,  since
     the Bank had not completed its reorganization into stock form until January
     5, 2005.

<TABLE>
<CAPTION>

                                                        Three Months Ended
                                                        September 30, 2005
                                                        ------------------

<S>                                                      <C>
     Net Income available to common stockholders         $        34,000
                                                         ===============

     Basic potential common shares:
       Weighted average shares outstanding                     2,777,250
       Weighted average unallocated ESOP shares                  (80,514)
                                                         ---------------
         Basic weighted average shares outstanding             2,696,736

     Dilutive potential common shares                                  -
                                                         ---------------

     Dilutive weighted average shares outstanding              2,696,736
                                                         ===============

     Basic and diluted EPS                               $           .01
                                                         ===============
</TABLE>


3.   MUTUAL HOLDING COMPANY REORGANIZATION AND MINORITY STOCK ISSUANCE

     In conjunction  with its  reorganization  into the mutual  holding  company
     structure,  on January 5, 2005,  the Bank (i)  converted to a stock savings
     bank as the  successor to the Bank in its mutual form;  (ii)  organized the
     Company as a  federally-chartered  corporation that owns 100% of the common
     stock of the Bank (in stock form); and (iii) organized  Georgetown Bancorp,
     MHC as a  federally-chartered  mutual holding  company that owns 55% of the
     Common Stock of the Company.


                                       7
<PAGE>
Item 2.     Management's Discussion and Analysis of Financial Condition and
            Results of Operations

Comparison of Financial Condition at September 30, 2005 and June 30, 2005

     Our total assets  increased by $3.5 million,  or 2.2%, to $162.5 million at
September 30, 2005,  from $159.0 million at June 30, 2005. The increase in total
assets resulted primarily from increases in investment  securities available for
sale and loans receivable.  Investment  securities  available for sale increased
$2.1  million,  or 12.7%,  to $18.9  million at September  30, 2005,  from $16.8
million at June 30,2005.  The increase in net loans  receivable of $2.5 million,
or 2.2%, to $117.2  million at September 30, 2005,  from $114.8  million at June
30, 2005,  reflected  continued  demand for  residential  construction  mortgage
loans.

     Total deposits decreased by $507,000, or .6%, to $89.8 million at September
30, 2005, from $90.3 million at June 30, 2005. The decrease in deposits resulted
primarily  from a $2.1  million,  or 10.3%,  decrease in savings  accounts and a
$648,000 or 1.9% decrease in  certificates  of deposits,  partially  offset by a
$1.2 million,  or 11.4% increase in demand deposit  accounts and a $1.2 million,
or 25.7%,  increase in NOW accounts.  Our short-term borrowings from the Federal
Home Loan Bank  increased  $2.0 million,  or 7.2%, to $30.4 million at September
30, 2005 from $28.4 million at June 30, 2005.

     Total stockholder's equity decreased $70,000 or .4% primarily due to impact
of adjusting the market value of  available-for-sale  securities due to interest
rate  changes,  partially  offset by net  income.  Retained  earnings  increased
$33,000,  or .4%, to $8.4 million at September  30, 2005,  primarily  due to net
income of $34,000.  Accumulated other  comprehensive  loss increased $120,000 to
$137,000 at  September  30,  2005,  from  $17,000 at June 30,  2005,  reflecting
$214,000 in net unrealized losses on securities available for sale for the three
months  ended  September  30,  2005.  The net  unrealized  losses on  securities
available for sale were attributable to changes in market interest rates and are
not considered by management to be other than temporary.

Comparison of Operating Results for the Three Months Ended September 30, 2005
and 2004

     General.  Net income decreased $93,000,  or 73.2%, to $34,000 for the three
months  ended  September  30,  2005,  from  $127,000  for the three months ended
September  30,  2004.  The  decrease  in net income  reflected  an  increase  in
non-interest expense,  which was partially offset by an increase in net interest
income and non-interest income.

     Interest Income.  Interest income increased by $324,000,  or 19.8%, to $2.0
million for the three months ended September 30, 2005, from $1.6 million for the
three months ended September 30, 2004. The increase  resulted  primarily from an
increase of $215,000,  or 15.6%, in interest  income on loans  receivable and an
increase of $84,000,  or 33.8%,  in interest and dividend  income on securities.
Additionally,  the increase in interest  income  reflected a $22.1  million,  or
17.1%, increase in the average balance of interest-earning  assets for the three
months ended  September 30, 2005 to $151.2  million from $129.1  million for the
three months ended  September  30, 2004.  Also  contributing  to the increase in
interest  income  was the 11  basis  point  increase  in the  average  yield  on
interest-earning  assets to 5.17% for the three months ended  September 30, 2005
from 5.06% for the three months ended September 30, 2004.

     Interest income on loans receivable  increased $215,000,  or 15.6%, to $1.6
million for the three months ended September 30, 2005, from $1.4 million for the
three months ended  September 30, 2004.  The increase was due to the increase in
the average  balance of loans  receivable of $13.7 million,  or 13.3%, to $116.5
million for the three months ended  September  30, 2005 from $102.9  million for
the three months ended  September  30,  2004.  Average loan yields  increased 11
basis points to 5.48% for the three months ended  September  30, 2005 from 5.37%
for the three months ended September 30, 2004.

     Interest and dividend income on investment securities increased $84,000, or
33.8%,  to $331,000 for the three months ended  September 30, 2005 from $247,000
for the three months ended  September 30, 2004.  The increase was due in part to
the increase in the average balance of investment securities of $6.2 million, or
25.1%,  to $31.0  million  from $24.8  million in the same period in 2004.  Also
contributing  to the  increase in interest and  dividend  income on  investments
securities  was the 29 basis point  increase in the average  yield on investment
securities to 4.27% for the three months ended  September  30, 2005,  from 3.98%
for the three months ended September 30, 2004.

     Interest  Expense.  Interest  expense  increased  $270,000,  or  44.9%,  to
$872,000 for the three months ended  September  30, 2005,  from $602,000 for the
three months ended September 30, 2004. The increase in interest  expense was due
to  the  $10.8   million,   or  9.1%,   increase  in  the  average   balance  of
interest-bearing  liabilities  to  $128.7  million  for the three  months  ended
September 30, 2005,  from $117.9 million in the same period in 2004, and by a 67
basis point  increase in the average  cost to 2.71% for the three  months  ended
September 30, 2005, from 2.04% for the same period in 2004.

     Interest expense on Federal Home Loan Bank advances increased $188,000,  or
68.8%,  due to a $10.5  million  or 27.6%  increase  in the  average  balance of
advances  during the three months ended  September 30, 2005,  to $48.7  million,
from $38.2  million  during  the same  period in 2004,  and by a 92 basis  point
increase in the average cost of the advances to 3.79% for the three months ended
                                       8
<PAGE>
September  30,  2005,  from  2.87% for the same  period  in 2004.  Additionally,
interest expense on  interest-bearing  deposits increased $82,000,  or 25.2%, to
$408,000 for the three months ended  September  30, 2005,  from $326,000 for the
same period in 2004. The increase was primarily due to a 41 basis point increase
in the average cost of  interest-bearing  deposits to 2.06% for the three months
ended  September 30, 2005,  from 1.65% for the same period in 2004.  The average
balance of  interest-bearing  deposits  increased  $275,000 or .3% for the three
months ended  September  30, 2005,  to $79.1  million from $78.9 million for the
same period in 2004.

     Net Interest  Income.  Net interest income increased  $54,000,  or 5.2%, to
$1.1 million during the three months ended September 30, 2005, from $1.0 million
for the same  period in 2004.  The  increase  in our net  interest  income was a
result  of  the  $11.3  million,   or  100.7%,   increase  in  our  net  average
interest-earning  assets to $22.5  million for the three months ended  September
30, 2005, from $11.2 million during the same period in 2004, partially offset by
a 32 basis point  decrease in our net interest  margin to 2.87% during the three
months ended September 30, 2005, from 3.19% for the same period ended 2004.

     Provision  for Loan  Losses.  A provision  of $33,000 for the three  months
ended  September 30, 2005 was made, as compared to an $18,000  provision for the
three  months  ended  September  30,  2004.  The  allowance  for loan losses was
$917,000,  or 0.78% of loans  outstanding  at September 30, 2005, as compared to
$894,000, or 0.85% of loans outstanding at September 30, 2004.

     Non-interest  Income.  Non-interest  income increased $11,000, or 12.1%, to
$109,000  during the three months ended September 30, 2005, from $98,000 for the
same period in 2004.  Investment  services fees increased $17,000, or 748.9%, as
the Company restructured its investment advisor staff.

     Non-interest Expense. Non-interest expense increased $194,000, or 21.2%, to
$1.1 million for the three months ended  September  30, 2005,  from $916,000 for
the three months ended September 30, 2004. The increase in non-interest  expense
was primarily related to new expenses associated with being a public company and
expenses related to the  establishment of our new investment  services  program.
Compensation and employee benefits increased  $161,000,  or 32.7%,  reflecting a
$25,000  increase  in  directors'  fees,  as the  directors  met monthly for the
quarter  ended  September  30, 2005  compared to quarterly for the quarter ended
September 30, 2004, as well as a $24,000 increase in compensation expense in the
investment  services  division,  an $18,000  increase in salaries due to our new
public  company  status,  $16,000 in new expense  related to the employee  stock
ownership plan, $13,000 in salaries  associated with our new office location and
$11,000 in  severance  payments for  terminated  employees.  Occupancy  expenses
increased  $18,000,  or 11.5%,  primarily due to increased service contracts for
equipment.  Professional  fees  increased  $44,000 or 106.9% to $85,000  for the
three months ended  September 30, 2005,  from $41,000 for the three months ended
September 30, 2004,  primarily due to increased expense  associated with the new
public company  corporate form,  primarily  auditing fees and legal fees paid to
the Company's special counsel. Advertising expenses decreased $21,000, or 68.0%,
reflecting a decline in expenditures in the quarter ended September 30, 2005, as
the Company  prepared  for its new deposit  campaign  launched in October  2005.
Other general and administrative expenses increased $5,000, or 4.4%, to $135,000
for the three months ended  September  30, 2005,  from  $130,000  from the three
months ended September 30, 2004,  primarily due to new expenses  associated with
being a public company.

     Income Tax Expense. The provision for income taxes decreased to $16,000 for
the three months  ended  September  30, 2005,  from $67,000 for the three months
ended  September 30, 2004, due primarily to the decreased level of income before
taxes of $50,000 for the three months  ended  September  30,  2005,  compared to
$194,000  for the same  period in 2004.  The  effective  tax rates for the three
months ended September 30, 2005 and 2004 were 32.6% and 34.7%, respectively.

Item 3.     Controls and Procedures

     Under  the  supervision  and  with  the  participation  of our  management,
including our Chief Executive Officer and Chief Financial Officer,  we evaluated
the  effectiveness  of the design and operation of our  disclosure  controls and
procedures  (as defined in Rule  13a-15(e)  or  15d-15(e)  under the  Securities
Exchange Act of 1934) as of the end of the period covered by this report.  Based
upon that evaluation,  the Chief Executive  Officer and Chief Financial  Officer
concluded  that,  as of the  end of the  period  covered  by  this  report,  our
disclosure  controls and procedures  were  effective to ensure that  information
required to be disclosed in the reports that the Company  files or submits under
the  Securities  Exchange Act of 1934, is recorded,  processed,  summarized  and
reported,  within the time periods specified in the SEC's rules and forms and in
timely alerting them to material information relating to the Company required to
be filed in its periodic SEC filings.  There has been no change in the Company's
internal  control over  financial  reporting  during the  Company's  most recent
fiscal  quarter  that  has  materially  affected,  or is  reasonably  likely  to
materially affect, the Company's internal control over financial reporting.

                                       9
<PAGE>

PART II. OTHER INFORMATION

Item 1.     Legal Proceedings

            Not applicable

Item 2.     Unregistered Sales of Equity Securities and Use of Proceeds

            Not applicable

Item 3.     Defaults Upon Senior Securities

            Not applicable

Item 4.     Submission of Matters to a Vote of Security Holders

            Not applicable

Item 5.     Other Information

            Not applicable

Item 6.     Exhibits and Reports on Form 8-K

            Exhibits

            31.1   Certification of Chief Executive Officer pursuant to Section
                     302 of the Sarbanes-Oxley Act
            31.2   Certification of Chief Financial Officer pursuant to Section
                     302 of the Sarbanes-Oxley Act
            32     Certification of Chief Executive Officer and Chief Financial
                   Officer pursuant to Section 906 of the Sarbanes-Oxley Act


                                       10
<PAGE>

                            GEORGETOWN BANCORP, INC.

                                   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, thereunto duly authorized.


                                    GEORGETOWN BANCORP, INC.
                                          (Registrant)




Date: November 10, 2005             /s/ Robert E. Balletto
                                    -----------------------------------
                                    Robert E. Balletto
                                    President and Chief Executive Officer
                                    (Principal Executive Officer)


                                    /s/ Joseph W. Kennedy
                                    -----------------------------------
                                    Joseph W. Kennedy
                                    Senior Vice President, Treasurer
                                      and Chief Financial Officer
                                    (Principal Accounting and Financial Officer)