Institution for Savings
| Company type | Mutual |
|---|---|
| Industry | Banking |
| Founded | 1820 |
| Headquarters | Newburyport , United States |
Area served | Essex County, Massachusetts |
Institution for Savings in Newburyport and Its Vicinity is a mutual financial institution based in Newburyport, Massachusetts, with a network of 15 branches located solely within Essex County, Massachusetts.
History
Established in 1820, the bank boasts a deep-rooted presence in the region. In August 2014, it grew its operations by acquiring Rockport National Bank, incorporating 4 additional branches through a cash deal valued at $28.3 million. By December 31, 2019, Institution for Savings managed $3.7 billion in deposits, underscoring its prominent role in the Massachusetts banking industry.