Institution for Savings
Institution for Savings in Newburyport and Its Vicinity is a bank based in Newburyport, Massachusetts.
| Type | Mutual organization |
|---|---|
| Industry | Banking |
| Founded | 1820 |
| Headquarters | Newburyport, Massachusetts |
Key people | Michael J. Jones, CEO |
| Website | www |
It has 15 branches, all of which are in Essex County, Massachusetts.
It is a mutual organization. As of December 31,2019, it had $3.7 billion in deposits.[1]
History
The bank was founded in 1820.[2]
In August 2014, the company acquired Rockport National Bank, which had 4 branches, for $28.3 million in cash.[3][4]
References
- "Institution for Savings in Newburyport and Its Vicinity". Federal Deposit Insurance Corporation.
- Wallack, Todd (November 6, 2011). "Family banking at Institution for Savings". The Boston Globe.
- MacNeill, Arianna (April 16, 2014). "Institution to buy Rockport National Bank". The Salem News.
- MacNeill, Arianna (April 23, 2014). "Institution for Savings to acquire Rockport bank". The Salem News.
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