Newburyport Five Cents Savings Bank

Newburyport Five Cents Savings Bank, doing business as Newburyport Bank, is a U.S. bank headquartered in Newburyport, Massachusetts. The bank has 11 branches, including 6 in Essex County, Massachusetts, 2 in Portsmouth, New Hampshire, as well as branches in the cities of Dover, Exeter, and Hampton, New Hampshire.

Newburyport Bank
Company typePrivately held company
IndustryBanking
FoundedApril 1854; 170 years ago (1854-04)
HeadquartersNewburyport, Massachusetts, United States
Number of locations
11 Branches
Key people
Lloyd Hamm Jr, President & CEO
Timothy Felter, CFO
Total assets$1.032 billion (2019)
Total equity$128 million (2019)
Websitewww.newburyportbank.com
Footnotes / references
[1]

The bank got its name from its minimum opening deposit of five cents at the time the bank was founded in 1854.

History

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The bank was founded in April 1854.[1]

In March 2011, bank president Richard Eaton retired and Janice Morse was named president and chief executive officer of the bank.[2]

In May 2011, the bank petitioned regulators to allow to reorganize into a mutual savings bank.[3]

In May 2012, the bank established a $400,000 scholarship fund to support local athletes.[4]

In 2013, the bank opened 2 locations in Portsmouth, New Hampshire.[5]

In March 2018, Janice Morse retired and Lloyd Hamm Jr. was selected as president [6]

In March 2019 the bank changed its name to Newburyport Bank, also redesigning its logo and branding.[7]

References

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  1. ^ a b "FDIC Bank Info: Newburyport Bank (FDIC # 90251)". Federal Deposit Insurance Corporation.
  2. ^ Rogers, Dave (March 31, 2011). "5 Cents' first woman CEO takes over reins". Newburyport News.
  3. ^ "The feeling's mutual for Newburyport Five". American City Business Journals. May 3, 2011.
  4. ^ "Newburyport Five rolls out education fund". American City Business Journals. May 30, 2012.
  5. ^ Claffey, Jason (November 22, 2013). "New Business Opens in Yoken's Commons". Patch Media.
  6. ^ Rogers, Dave (March 30, 2018). "Newburyport Five Cents Names New President". Newburyport News.
  7. ^ Staff Reports (March 27, 2019). "With new name, Newburyport Bank announces expansion, goals for 2019". Newburyport News.