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The bank was established in 1885 as Lowell Co-operative Bank. [3] In January 2009, the bank was recapitalized though a supervisory stock conversion, converting from a mutual co-operative bank to a stock co-operative bank. [4] [5] In December 2010, the bank acquired the assets of Omega Mortgage Corporation. [4] [6]
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By 1920, it was being seriously suggested that the Merrimack be dredged from Newburyport to Lowell so that barges could access the city. [28] However, the events of the 1920s ensured that would never happen. In 1885 was founded the Lowell Co-operative Bank, today Sage Bank, one of the oldest still functioning banks in Massachusetts. [29]
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There have been 567 bank failures since 2001, according to the FDIC, with the bulk of them — 507 bank failures, or nearly 90% of all failures in this time period — clustered from 2008 to 2014 ...
Originally founded as Dedham Institution for Savings on March 19, 1831, the bank has connections to prominent individuals including Horace Mann. [4] Sophia Foord, an acquaintance of Henry David Thoreau, [5] was the bank's first depositor. On May 4, 1832, The Society in Dedham for Apprehending Horse Thieves opened a bank account at Dedham Savings.
Berkshire Bank is an American bank headquartered in Boston, Massachusetts. It is a subsidiary of Berkshire Hills Bancorp, a bank holding company . The bank operates 83 branches in New England , and New York, and is the third largest regional bank headquartered in Massachusetts .
The Savings Bank (formerly Wakefield Savings Bank) is a state-chartered mutual bank, headquartered in Wakefield, Massachusetts and founded in 1869. It is one of the oldest banks in the United States . [ 2 ]