History
The Savings Bank first opened its doors in 1869, making 2009 the 140th year in business. We're proud to have deep roots in the communities which we have grown together with. We hope you enjoying 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
