Newburyport Five Cents Savings Bank

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]

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.

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

History

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

  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.