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.
 | |
| Type | Privately held company |
|---|---|
| Industry | Banking |
| Founded | April 1854 |
| Headquarters | Newburyport, 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) |
| Website | www |
| 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
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
- "FDIC Bank Info: Newburyport Bank (FDIC # 90251)". Federal Deposit Insurance Corporation.
- Rogers, Dave (March 31, 2011). "5 Cents' first woman CEO takes over reins". Newburyport News.
- "The feeling's mutual for Newburyport Five". American City Business Journals. May 3, 2011.
- "Newburyport Five rolls out education fund". American City Business Journals. May 30, 2012.
- Claffey, Jason (November 22, 2013). "New Business Opens in Yoken's Commons". Patch Media.
- Rogers, Dave (March 30, 2018). "Newburyport Five Cents Names New President". Newburyport News.
- Staff Reports (March 27, 2019). "With new name, Newburyport Bank announces expansion, goals for 2019". Newburyport News.