News Archive - 2015

August 2015

Main Street Rockport Foundation Donates $344,000

The Institution for Savings, through its Main Street Rockport Charitable Foundation, donated and pledged $344,085 in the first half of 2015 to not-for-profit organizations in the greater Beverly and Cape Ann communities.

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July 2015

Institution for Savings to Open a New Full-Service Office in Boxford

The Institution for Savings will bring community banking back to Boxford by opening a new full service  office inside the Boxford Community Store in the heart of the Village, announced President and CEO Michael J. Jones today. Pending approvals by the Federal Deposit Insurance Corporation and the Massachusetts Division of Banks, the new facility tentatively is scheduled to open later this fall and will be the only bank located in Boxford.

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March 2015

Institution for Savings Pledges $1.5 Million to the Ipswich Family YMCA for Outdoor Aquatic Center

The Institution for Savings, through its 2 Depot Square Charitable Foundation, has pledged $1.5 million to Phase 2 of the Ipswich Family YMCA’s Capital Campaign, announced President and CEO Michael J. Jones. This gift, the largest grant in the Foundation’s 10 years of existence, will be used to construct an Outdoor Aquatic Center.

“The Family Y is an integral part of Ipswich, improving the lives of so many as it serves the health, fitness, education and caregiver needs of thousands of families and individuals each year,” said Mr. Jones in announcing the gift. “Much like the Y, the Institution for Savings is committed to having a positive impact on those in our communities.  I believe this gift will accomplish just that, providing a modern facility that is welcoming, vibrant and accessible for those of all ages and socio-economic backgrounds.”

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March 2015

Institution for Savings Posts Fifth Consecutive Year of Record Earnings:  Completes Successful Acquisition of Rockport National Bank, Named Top Employer by the Boston Globe, Reaches Historic Highs in Total Assets, Total Loans, Total Deposits and Net Operating Income

2014 was another momentous year for the Institution for Savings as the Bank reported its fifth consecutive year of record earnings,  successfully completed the acquisition of Rockport National Bank  and was named the Top Medium Sized Employer by The Boston Globe for the second straight year and third time in four years.  These accomplishments were announced by President and CEO Michael J. Jones at the Bank’s 195th Annual Meeting held March 9th at the Black Swan County Club in Georgetown attended by more than 300 Bank corporators and employees.

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