The Savings Bank

The Savings Bank recently held a groundbreaking ceremony at 3 Chestnut Street in Wakefield, adjacent to the Bank’s Main Office at 357 Main Street. Construction is set to begin on the two-story addition and expansion that will house the Bank’s Commercial Banking, Human Resources, Training, Facilities, and IT departments.

The site, previously occupied by Chas. F. Hartshorne & Son Insurance, was purchased by The Savings Bank in 2018 to expand its downtown campus and incorporate non-branch Lakeside Office Park employees. The proximity of the two buildings will allow for customer and staff access between the Main Office and the addition. Completion and occupancy are expected in early 2023.

“This is an exciting time for The Savings Bank as we begin the construction of the long-awaited expansion of our physical footprint,” Bob DiBella, President, and Chief Executive Officer said. DiBella was joined by members of the Bank’s Board of Directors and the management team involved in the project, as well as the architectural firm of LYF Architects, and the construction team from Essex Builders at the recent groundbreaking.

“LYF Architects applauds The Savings Bank’s ongoing commitment to having a strong presence in Wakefield’s downtown area,” Thomas F. Galvin, LYF Architects Senior Architect said. “We are honored to lead the design effort to expand their footprint and services at the Main Street campus.  This truly was a collaborative effort between the Savings Banks leadership, our design team, and Essex Builders to realize this project.”

“After working alongside with The Savings Bank and LYF Architects through an investigative preconstruction process, Essex Builders Corp is excited to see The Savings Bank Office Expansion project break ground,” Stephen Foley of  Essex Builders Corp. added. “It’s been a pleasure working with this project team and we look forward to a successful project.”

According to the Bank, final preparations are being made for the interior design that will provide a seamless transition between the building and the Main Office and Odd Fellows Building.

“The Bank hopes to minimize any disruptions and inconvenience to local residents and those who work and frequent the downtown area as construction begins,” Di Bella added. “We appreciate the support we have received from the community, customers, and our employees.”



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