Institution for Savings
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| Company type | Mutual organization |
|---|---|
| Industry | Banking |
| Founded | January 31, 1820 |
| Headquarters | Newburyport, Massachusetts |
Key people | Michael J. Jones, CEO |
| Website | www |
Institution for Savings in Newburyport and Its Vicinity is a bank based in Newburyport, Massachusetts. It has 15 branches, all of which are in Essex County, Massachusetts. It is a mutual organization.
History
[edit]The bank was founded in 1820.[1]
In August 2014, the company acquired Rockport National Bank, which had 4 branches, for $28.3 million in cash.[2][3]
As of December 31, 2019, it had $3.7 billion in deposits.[4]
References
[edit]- ^ Wallack, Todd (November 6, 2011). "Family banking at Institution for Savings". The Boston Globe. Archived from the original on November 14, 2017. Retrieved November 13, 2017.
- ^ MacNeill, Arianna (April 16, 2014). "Institution to buy Rockport National Bank". The Salem News. Archived from the original on October 12, 2019. Retrieved November 13, 2017.
- ^ MacNeill, Arianna (April 23, 2014). "Institution for Savings to acquire Rockport bank". The Salem News. Archived from the original on October 12, 2019. Retrieved November 13, 2017.
- ^ "Institution for Savings in Newburyport and Its Vicinity". Federal Deposit Insurance Corporation. Archived from the original on 2017-11-13. Retrieved 2017-11-13.
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