Institution for Savings

Institution for Savings in Newburyport and Its Vicinity
Mutual organization
Industry Banking
Founded 1820 (1820)
Headquarters Newburyport, Massachusetts
Key people
 Michael J. Jones, CEO
Website www.institutionforsavings.com

Institution for Savings in Newburyport and Its Vicinity is a bank based in Newburyport, Massachusetts.

It has 13 branches, all of which are in Essex County, Massachusetts.

It is a mutual organization. As of June 30, 2017, it had $2.5 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

  1. ↑ "Institution for Savings in Newburyport and Its Vicinity". Federal Deposit Insurance Corporation.
  2. ↑ Wallack, Todd (November 6, 2011). "Family banking at Institution for Savings". The Boston Globe.
  3. ↑ MacNeill, Arianna (April 16, 2014). "Institution to buy Rockport National Bank". The Salem News.
  4. ↑ MacNeill, Arianna (April 23, 2014). "Institution for Savings to acquire Rockport bank". The Salem News.
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