Griswold-based Jewett City Savings Bank is seeking regulatory approval to open a new branch in Mansfield, a roughly $2 million investment that would mark the community lender’s eighth location.
The bank plans to construct a 2,000-square-foot building on leased land at 106 Storrs Road, across from the East Brook Mall. The branch is expected to open late this year or in early 2027, according to bank President Michael Alberts.
Jewett City Savings studied markets near its existing eastern Connecticut footprint and determined the Mansfield-Willimantic area is underserved by community banks, Alberts said. The new location would also position the bank to serve students and faculty at the nearby University of Connecticut and Eastern Connecticut State University campuses, he said.
The full-service branch would be staffed by five new customer service specialists trained to handle both traditional teller transactions and more complex services, such as wire transfers, home equity lines of credit and other banking products. A commercial loan officer would also be based at the office.
“We are putting a branch in a very critical traffic pattern area across from the East Brook Mall,” Alberts said. “That is indicative of our commitment to the community. Many banks are actually reducing their footprint and closing offices. We are doing the opposite. We are expanding, but we are doing it very selectively in communities where we feel we can make a difference.”
Founded in 1873, Jewett City Savings Bank has approximately $485 million in assets and employs 95 people.
