Newtown Savings Bank is planning to open a limited-service branch inside a nearly completed apartment building at Bridgeport’s Steelpointe Harbor waterfront redevelopment, a project the bank helped finance. The $1.87 billion-asset bank has filed an application with the state Department of Banking to open a branch inside The August, a mixed-use building with 420 apartments […]
Newtown Savings Bank is planning to open a limited-service branch inside a nearly completed apartment building at Bridgeport’s Steelpointe Harbor waterfront redevelopment, a project the bank helped finance.
The $1.87 billion-asset bank has filed an application with the state Department of Banking to open a branch inside The August, a mixed-use building with 420 apartments and retail space overlooking Bridgeport Harbor.
The August is part of the broader Steelpointe Harbor redevelopment, an approximately $1 billion project that aims to transform a former industrial waterfront into a mixed-use district with housing, retail, office and hotel space. The August alone carries an estimated development cost of about $200 million.
A rendering of "The August," a 420-unit, mixed-use apartment building under construction on the harbor in Bridgeport. Photo | Flaherty & Collins.
Newtown Savings is among a group of lenders providing financing for the mixed-use apartment project.
The new banking center will operate by appointment only on weekdays. Customers will be able to open deposit accounts and apply for mortgage, commercial and business loans. The location will also offer financial consultations and include an ATM.
The branch will not provide traditional teller services or handle cash transactions on-site.
The office will be staffed by a mortgage banker, commercial banker and business relationship banker, and is expected to open during the second quarter.
Newtown Savings representatives said the new location builds on the bank’s commitment to Bridgeport, while affording it a point of contact in Bridgeport’s developing east end.
Newtown Savings Bank has operated a full-service branch at 112 Boston Ave. in Bridgeport for nearly five years. The bank operates 14 additional branches in Newtown, Bethel, Danbury, Monroe, Oxford, Shelton, Southbury, Trumbull, Woodbury and New Haven.
