Thomaston Savings Bank is a mutual bank with 16 branches, serving customers across Connecticut. The bank provides personal, business and commercial banking services while investing in local communities through charitable giving, volunteerism and partnerships that strengthen the quality of life throughout its service area.
Check out the other 2026 Business Excellence Awards honorees
Tell us about your recent accomplishments.
We stand apart through our unique ability to balance strong financial performance, forward-thinking innovation and a deeply rooted commitment to our community — all guided by our mutual banking model, which prioritizes people over shareholders.
Over the past six months alone, we’ve delivered exceptional financial results while maintaining disciplined growth and risk management. Total assets reached nearly $2 billion, with deposits growing to $1.67 billion and loans to $1.41 billion.
Net income increased nearly 70% year-over-year, driven by strong loan demand, improved net interest income and operational efficiency. We are on track to have our most successful year in our 150-plus year history.
What are your plans for future growth?
We will continue growing through innovation, exceptional client service, strategic expansion and meaningful community investment while remaining true to our mutual banking values. Our focus is on strengthening relationships, enhancing the client experience and delivering long-term value to the communities we serve.
How is your organization involved in the community?
Thomaston Savings Bank reinvests in the communities it serves rather than prioritizing shareholder returns. This commitment is reflected through bank giving in 2025 at $1.3 million to support 393 nonprofits, 5,700 volunteer hours and more than $64,000 raised for United Way — demonstrating that financial success drives meaningful community impact.
Check out the other 2026 Business Excellence Awards honorees
