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About

History

The Savings Bank first opened its doors in 1869 and we're proud to have deep roots in the communities which we have grown together with. We hope you enjoy reading about some of the noteworthy events that have taken place over the years. We look forward to continuing to grow with our customers, their families, and the communities that we serve for many years to come.

KEY DATES

1869 - The Wakefield Savings Bank chartered and Main Office established

1975 - Greenwood branch opens (a branch in Greenwood was opened originally in 1925 but was discontinued in 1932)

1976 - Lynnfield branch opens

1978 - Key Investment Services (brokerage) begins (ended in early 1980s - re-established as TSB Securities Group in 2000)

1980 - Lakeside branch opens

1981 - 1st Educational Savings Branch opens

1986 - First ATMs installed (all locations simultaneously)

1986 - Paid first (of three) "bonus interest" payments ($1.2 million) after removal of Regulation Q (others were paid in 1987 and 1992)

1986 - Middleton branch opens (sold in 1994)

1989 - Named changed from Wakefield Savings Bank to The Savings Bank

1997 - Trust Department established (New England Fiduciary and Investment Management became TSB Asset Management Group)

1997 - Purchase of the Odd Fellows Building (following a fire) (Rehab completed two years later)

1997 - TSB Charitable Foundation endowed (first awards issued in 1998)

1997 - Andover branch opens

2000 - South Lynnfield branch opens

2000 - Purchase of David W. Cook & Co., Inc. - Investment Advisor (DWC was consolidated into TSB Asset Management Group)

2001 - Purchase of Robert F. Thibodeau Insurance Agency, Inc.

2001 - Donald E. Garrant Foundation endowed (first awards issued in 2001)

2001 - Tuttle Street ATM opens

2001 - TSB Website launched

2002 - Online Banking and PC-bill payment introduced

2004 - Broadway ATM opens

2004 - South Lynnfield drive-through teller/ATM opens

2005 - Methuen branch opens

2005 - North Reading branch opens

2005 - Purchase of First Financial Trust, N.A. - A limited purpose trust company (TSB Asset Management Group was consolidated into FFT, N.A.)

2006 - Business Debit Card, Online Business Banking and Cash Management introduced

2007 - Purchase of Norris Insurance Agency

2012 – TSB Charitable Foundation renamed The Savings Bank Charitable Foundation
 
2013 – Formed Wakefield Bancorp, MHC (mutual holding company)
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The Savings Bank  357 Main Street St, Wakefield, MA, 01880    Phone: (800) 246-2009    Fax: (781) 224-5482
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