With regulatory approvals in hand, Thomaston Savings Bank aims to open a full-service branch in downtown New Britain by the close of October.
This will be the 16th branch for the bank, which reported $1.58 billion in assets at the close of 2022. The bank announced Wednesday it had secured approvals from the Connecticut Department of Banking and Federal Deposit Insurance Corp.
“We are thrilled to bring our expertise and passion for exceptional banking to New Britain,” said Stephen Lewis, President and CEO of Thomaston Savings Bank. “Through personalized attention, innovative solutions and a genuine dedication to our customers, we aim to enhance their financial wellbeing and contribute to the overall prosperity of the city.”
The bank plans to hire four staff members, in addition to a mortgage loan officer for the new branch in nearly 2,000 square feet of leased space at 222 Main St. The branch will also have a dedicated commercial lender, business relationship officer and investment advisor.
The New Britain branch follows the opening of a Farmington branch in 2019, which included New Britain in its market area. The new branch will demonstrate Thomaston Savings Bank’s commitment to the city through an expansion of its presence, according to Rosemary Briglia, the bank’s chief operating officer.
“It is an extremely attractive market for consumer and commercial business,” Briglia said. “The downtown area continues to transform and we believe our presence will offer exceptional customer service synonymous with Thomaston Savings Bank’s community bank business model.”
The bank has branches in Bethlehem, Harwinton, Middlebury, Watertown, Plymouth, Waterbury and Wolcott, along with two branches each in Thomaston, Farmington, Watertown and Bristol.
The Thomaston Savings Bank Foundation and the Bank collectively donated more than $990,000 in 2022.
