Guilford Savings Bank has formally merged with Eastern Connecticut Savings Bank, and the combined institution has rebranded as Ascend Bank.
The merger was first announced in December 2024, and approved by the state Department of Banking in May.
The bank says clients will notice no immediate changes to branches or services. The operational integration of the two institutions was completed in early September.
Guilford Savings Bank has been operating since 1875.
“The name Ascend Bank reflects who we’ve been for 150 years: a bank committed to helping people and communities grow stronger,” said Ascend Bank President and CEO Kyle Eagleson, who formerly led Guilford Savings Bank.
Lisa Griffin, who formerly served as president and CEO of Norwich-based Eastern Connecticut Savings Bank, now becomes market president of the Eastern Region for the new entity.
Ascend now becomes a $1.4 billion bank with thirteen offices in Connecticut and 25,000 accounts.