NEWS
April 2008
A Symbol of Freedom from an American Hero
For more than 120 days, an American flag flew over battlefields in Iraq, Oman, Bahrain and Jordan as part of a very special tribute to the Institution for Savings. This greatest symbol of American freedom accompanied the 386th Air Expeditionary Wing of the US Air Force-also known as "The Rock"-- on countless overseas missions between October 12, 2007 and February 12, 2008, serving as a constant guardian and reminder of the cause which they all fought… and of a company back home that supports them.
One member of this brave unit had a very special connection to our Institution for Savings family: U.S. Air Force Technical Sergeant Jasen Brouillette. A 1996 graduate of Ipswich High School, Jasen is also the son of Institution for Savings mortgage officer Ellin McSweeney and recalled vividly the support the bank provided to his mother and family during each of Jasen's four overseas deployments. Three years ago, when Jasen was returning to London after his first tour in Iraq, bank president Mark Welch surprised Jasen's mother with a round-trip ticket to England so that Ellin could be waiting for her son with the other military families when he arrived home. Since then, there have been countless care packages and fund collections to benefit Jasen, Ellin and other local military families. ...Read More
April 14, 2008
Institution for Savings to Operate School Bank at Triton Regional High School
Continuing its recent trend of the last several years, the Institution for Savings will open a new bank branch this September - this one at Triton Regional High School.
The Triton School Committee earlier this week approved a proposal by the bank to take over the operation of the school bank branch located in the main lobby of Triton's high school. Pending regulatory approval, the bank hopes to become operational for the start of the 2008-09 school year in September. The bank was formerly operated by TD BankNorth, who did not renew its contract with the school this year. ...Read More
March 11, 2008
Strong growth, successful merger, new branch office top Institution for Savings 2007 accomplishments!
In addition to completing a successful merger and opening a fifth new full-service banking office, the Institution for Savings posted impressive double-digit growth in all key areas in 2007, President/CEO Mark Welch and Executive Vice President/COO/CFO Michael J. Jones announced last night at the bank's Annual Meeting at Ipswich Country Club. More than 200 Trustees, Corporators and bank employees were in attendance. ...Read More
January 17, 2008
Institution for Savings Charitable Foundations Donate Nearly a Half Million Dollars to Local Organizations in 2007
The Institution for Savings, through its two philanthropic foundations, donated a combined total of $479,073 to 60 local not-for-profit groups and organizations in 2007, announced Institution for Savings President/CEO Mark Welch today. This brings the total amount for the combined foundations to more than $1.6 million since 2005. ...Read More
Institution for Savings Charitable Foundation Donates $100,000 Towards the Restoration of World War Memorial Stadium
The Institution for Savings, through its Charitable Foundation, is donating $100,000 to the RESTORE Our Stadium Committee for the restoration and renovation of World War Memorial Stadium at Newburyport High School. The donation, which will be paid out over two years, was announced today by Institution for Savings President and Chief Executive Officer Mark F. Welch. ...Read More
Institution for Savings Donates $10,000 to Local Organizations as Part of Rowley Branch Opening
Rowley, MA - The Institution for Savings recently donated more than $10,000 to five area non-profit organizations in conjunction with the opening of its full-service banking office in Rowley.
As part of its grand opening promotion, the bank announced that it would donate $50 to one of five local organizations for each new account opened in its Rowley office in the opening days. As a result, the bank presented checks earlier this week totaling $10,100 to representatives of those organizations, which included the Rowley Council on Aging, the Rowley Food Bank, the Rowley Public Education Fund, the Triton Education Foundation, and the YMCA of the North Shore. ...Read More
Institution for Savings Set to Open New Rowley Office October 1st; Announces Management Staff
The Institution for Savings will open its 5th full-service banking office at 312 Haverhill Street (at the site of the former McIntyre's restaurant) in Rowley on October 1st. The team will be led by (left to right) Vice President of Residential Lending and Rowley resident Larry Hunter. Executive Vice President and COO Mike Jones, Assistant Manager April Shonkwiler, President and CEO Mark Welch, and Manager Joshua Tuff. A grand opening Fall Festival is set for Saturday, October 13th from 10 am to 2 pm, and the public is invited to attend. ...Read More
September 1, 2007
Institution for Savings to award $15,000 Annual Scholarships to local high school students
As part of its ongoing commitment to financially supporting local communities, the Institution for Savings, through its Charitable Foundation, will award a $15,000 scholarship to a high school student in each of the three districts in which it currently maintains banking offices, announced President and CEO Mark Welch today. ...Read More
September 1, 2007
Institution for Savings Donates $250,000 to Expand and Restore Ipswich, Newburyport Athletic Facilities in Memory of War Veterans
The Institution for Savings, through its two Charitable Foundations, recently donated $250,000 towards to the restoration and expansion of two key athletic facilities in Newburyport and Ipswich, announced President Mark Welch recently. ...Read More
March 14, 2007
2006 President's Award presented to Wesley Barry
Personal Banker Wesley Barry was the 2006 recipient of the President’s Award, an annual commendation given to an employee who has displayed outstanding performance in the previous year. Wes received a $2500 cash award, an extra week’s vacation and a reserved parking space for the year.
March 14, 2007
Institution for Savings Post Strong Growth; Approves Merger with Ipswich Co-Operative Bank
Newburyport, MA -- The Institution for Savings posted solid growth in 2006, announced President and CEO Mark Welch at the bank's Annual Meeting last evening. held at Nicholson Hall and attended by more than 150 trustees, corporators and employees.
Total assets as of December 31, 2006 were $554,009,917, an increase of 6 percent over 2005. Despite the suffering housing market, loans grew by approximately 8.6 percent, to $246,641,091, while total deposits were $394,327,729, a nearly 7 percent increase over 2005. ...Read More
March 1, 2007
Macintosh Leads Investment Team at 1820 Investment Services
Newburyport, MA -- Deborah N. Macintosh has been hired as Financial Services Representative for 1820 Investment Services at the Institution for Savings. The announcement was made recently by Institution for Savings President and CEO Mark F. Welch.
Ms. Macintosh, an Infinex Investment Representative, will provide 1820 Investments clients with highly customized investment strategies designed to help individuals prepare for their futures. A resident of Newburyport, she has more than 20 years experience in financial planning, client services and account management. Her previous experience includes 9 years with Smith Barney where she managed $38 million in assets for 200-plus clients. Ms. Macintosh holds Series 7 and 63 licenses, as well as Massachusetts and New Hampshire Life and Health Insurance Licenses. ...Read More
February 7, 2007
Two Strong Community Banks to Combine
Committed to serve needs of local communities and customers together
Newburyport, MA - The Institution for Savings and the Ipswich Co-operative Bank, two of the North Shore's most highly regarded and iconic community banks who have served the local financial needs in their respective communities for a combined total of more than 280 years, announced today that they will join together to create one strong mutually owned savings bank.
The union was recently approved by the Institution for Savings Board of Trustees and Ipswich Co-operative Bank's Board of Directors. Pending final approval by the Institution for Savings Corporators, Ipswich depositors, the Massachusetts Division of Banks and the FDIC, the union is expected to be completed on or around July 1st.
Click here to read the 2/12/07 editorial in THE DAILY NEWS. ...Read More
