History | Years To Remember | Officers

The foundation for Newburyport's heritage as a maritime and mercantile center was laid at the foot of State Street in 1655. There, on what was then known as "the water side" of Newbury, Captain Paul White built the area's first wharf, which signaled the start of a new port, new commerce, and a new town: Newburyport, Massachusetts.

After its incorporation as a town in 1764, Newburyport went on to develop a ship building and shipping trade that would carry its name around the world. By 1810, the merchants of Newburyport owned more than 144 vessels. On a single day in 1820, more than 40 ships set sail for the trade routes of the West Indies, while steamboats plied the local trade along the Merrimac.

Another event that captured the attention of the town's 6,852 residents that year was a request sent to General Court by 34 prominent citizens of Newburyport and its vicinity, to incorporate an institution "for the purpose of receiving money on deposit and investing the same to the best advantage of the owners thereof."

On January 31, 1820 the charter was granted, creating the third savings bank in the Commonwealth.

The Institution for Savings opened for business on April 5th at 12 o'clock, in the Selectmen's Room under the Town Hall, at the corner of State and Essex Streets. By the close of business one hour later, 24 accounts had been opened.

Over the years, the Institution for Savings occupied several locations along State Street. In 1872, the Bank moved to what a local historian described as "a new and commodious building" at 93 State Street, the current location of our main office.

Years To Remember

1820	Opened for business
1846	Daily office hours established
1854	Deposits reach $1 million
1872	Moved to new building at 93 State Street
1899	Henry B. Little named President, serves for 54 years
1903	Building remodeled
1910	Deposits exceed $7 million
1967	John Pramberg, Jr. named President
1973	Assets reach $50 million / West Office opened on 68 Storey Avenue
1980	New addition to 93 State Street / ATM opened
1982	Assets reach $100 million
1992	Donald D. Mitchell named President
1995	Assets reach $200 million / Bank celebrates its 175th anniversary
1997	Assets reach $300 million
2000	Lending Office opened at 81 State Street downtown Newburyport
2001	Assets reach $400 million
2004	Mark F. Welch named President

Chairman & President Mark F. Welch Vice Presidents Patricia A. Ferguson William A. Keane Jeffrey S. Manning Jon H. Martin Kimberly A. Rock Treasurer William A. Keane Assistant Vice President Anna L. Makos Assistant Treasurers Rebecca L. Conary Caroline M. Kippin Holly F. Reardon Board of Investment Mark F. Welch, Chairman Donald D. Mitchell Jonathan J. Woodman Thomas G. Ambrosi Nancy E. Peace

Auditing Committee John F. Bradshaw Eugene E. Bucco Michael E. Strem Trustees Donald D. Mitchell Eugene E. Bucco Peter G. Kelly Jonathan J. Woodman John F. Bradshaw Curtis L. Gerrish, Jr. S. Merrell Stearns Michael E. Strem Mary E. Larnard Marjorie A. Lynn David M. Tierney Mark F. Welch Richard E. Sullivan Thomas G. Ambrosi Nancy E. Peace David A. Tibbetts William A. Keane