We’re with you. A part of your community.
From our founding in Claremont, New Hampshire in 1907 to our expansion to West Lebanon, New Hampshire in 2021, we’ve grown and changed alongside the communities we serve.
As a mutual savings bank we are owned by local depositors and overseen by trustees who represent the best interests of our customers and communities. So we put you first, offering a wide range of personal and business banking services, including enhanced features and no-cost benefits.
We are also a portfolio lender, which means that we originate and service most of our loans locally. That way we can deliver quick decisions and apply our knowledge of the communities we serve to help you find your dream home or grow your business.
Choose Claremont Savings Bank and you’ll enjoy exceptional service and trusted advice from neighbors who understand your needs and share your love of the community. We’re with you.
Our History
On February 13, 1907, Claremont Savings Bank was chartered by act of the General Court (Legislature) of the State of New Hampshire. The Bank opened for business on April 15, 1907, at the corner of Tremont Street and Tremont Square in Claremont. The original corporators were James L. Rice, Leonard Jarvis, Hermon Holt, Thomas W. Fry, James E. Ellis, O. Duane Quimby, Henry K. Tenney and Henry C. Hawkins who was the original Treasurer of the Bank. Mr. Hawkins served in various capacities for 64 years until his death in 1971 at the age of 93.
As the Bank’s customer base increased, so did the number of employees and the types of services offered. To meet the expanding demands, construction of a new facility on the southwestern corner of Broad and Pine Streets began in July 1954. On May 5, 1955, the Bank moved into its new quarters and reopened for business on May 7th. At that time, the Bank utilized only one-third of the building. The customer base, service offerings, and employee population of the Bank continued to escalate, more space was needed and, in 1974, an ell was added to the building.
Continued expansion through the sixties and seventies gave way to many structural changes within the organization. In 1978, in response to increased needs of the public and internal efficiency, the Consumer Credit and Mortgage Loan Departments were consolidated and renamed the Lending Department. These departments were located on separate floors of the Bank until 1981 when the tenants moved from the second floor of the building. The Lending Department, in its entirety, moved to the vacated premises.
While Lending changes were taking place, the Retail areas of the Bank were experiencing growth pains of their own. The first Automatic Teller Machine (ATM), known as “Monty” was installed in November of 1977 at the Main Office. Three years later, a new generation of ATMs came on the scene. “Monty” was replaced by “Clare” at the Main Office and on August 12, 1980, in a newly acquired property at the corner of River and Main Streets in Charlestown, the first remote ATM installation opened for business. This ATM, located in the Carriage House, was nicknamed “Charlie.”
In 1981 a third ATM, named “Connie” was installed at Power’s County Store, Route 120 in Cornish, NH. On January 14,1981, this location also became the home of our first staffed, limited-service branch.
With one new branch under our belt, construction began on a Cape Cod style building at 356 Washington Street, which became the home of a full-service branch and our fourth ATM “George” on September 2, 1981. Due to increased service demands, the Branch was expanded in 1989. While compact in size, the Washington Street facility provides the Bank’s customers with all types of services except safe deposit.
1983 heralded two major changes for the public’s convenience. As soon as the branching laws allowed, the ATM facility in Charlestown was expanded to a full-service facility, excluding safe deposit, and on October 1st the branch opened its doors for business. At the same time, Branch preparations were taking place, and some staff members were taking exams to become Registered Representatives (i.e., stockbrokers). These individuals serve as dual employees of CSB and the broker/dealer affiliate. This service was developed to expand investment opportunities for CSB customers and the general public.
Our fourth branch was added in 1988 residing on Maple Avenue, this limited-service branch filled a need to better serve customers who live, work and shop in that neighborhood. At the same time, an ATM named “Sugar” was installed.
“Beau” became the next member of CSB’s ATM family in 1989. “Beau” was located on Route 11 in West Claremont. Also, during 1989, in an effort to continue providing convenient ways for our customer to conduct their business, the Bank joined the Yankee 24®/CIRRUS® network. This network allows ATM card holders to access their accounts through thousands of ATMs nationally and worldwide. In July 1996, Master Debit Cards were issued for the first time which allowed customers to “charge” retail transaction directly to their checking accounts.
The 1990’s were a period of changes for Claremont Savings Bank. In addition to the renovation and expansion of the Washington Street Branch, CSB grew in other areas. Due to the gradual expansion of Bank operations, the Bookkeeping and NOW Departments relocated from the lower level of the Main Office to newly renovated office space next to Sears on the corner of Pine and Middle Streets in March of 1991. In 1997, the Bank installed new computers with Open Solutions Inc. software to run the entire Bank. In 1998, a Voice Response System was added for customer convenience and Internet banking followed in January 2001.
On July 15, 1992, the Cornish Branch relocated to School Street, across the street from the original location. 1996 and 1997 were especially busy with the construction of new buildings for both the Maple Avenue Branch, which opened at 158 Maple Avenue on February 26, 1996, and the Charlestown Branch, which opened at their new location at 135 Main Street on January 21, 1997.
The Bank continued to grow and in 2004, the Board of Trustees and Senior Management team decided to build a new main branch in the same location. There was a discussion to renovate the existing building, but it was found to be too costly and would interfere with the staff’s productivity. With the new building in the plan, this enabled the Bank to have all the main branch staff in the same building. The old main branch had two separate buildings. In 2005, the Bank moved into the new facility. The new facility included a drive-up ATM, and an internet café was added.
In 2014, the Bank decided to close the Maple Avenue branch and relocate to 148 Charlestown Road to capture the traffic from the businesses on this side of town. The Charlestown Road branch opened in 2015 and was a modernized branch with Intelligent ATM and Concierge Service and an internet café as well as iPads. Claremont Savings was presented an opportunity in 2015 to purchase Springfield Savings and the loan branch of Brattleboro Savings Bank Loan Association. This expanded the Bank’s presence to Vermont.
With the advancement in technology and a change in customer needs, the Bank made the decision to close the Cornish branch in 2016 and the Charlestown Road branch in 2018. As the future is moving towards online banking, there is less of a need for physical bank branches.
Claremont Savings Bank expanded to the Upper Valley in 2021 and the new branch is located on North Main Street in West Lebanon. This branch offers retail banking, mortgage lending, and commercial banking. The Bank has seen a nice increase in traffic allowing our market to capture the Upper Valley audience.
Bank Management
Claremont Savings Bank is and always has been a Mutual Savings Bank which means, technically, the Bank is owned by its depositors. As is the case at CSB, mutual savings organizations traditionally are overseen by a Board of Trustees which is elected by Corporators. The Board of Trustees elects a President and Officers to fill key positions within the organization and manage day to day operations.
The Corporators of Claremont Savings Bank meet annually to review the previous year’s business transactions, elect Trustees and Officers, and oversee any other required matters. There are approximately 45 Corporators. Most of these individuals are members of our local business community.
The Bank’s Board of Trustees meets monthly to oversee the management of the Bank. There are 11 Trustees on the Board including the President.
Below is a listing of the Presidents, Chairmen and Clerks of the Corporation since CSB opened its doors:
|
Presidents |
Board Chairmen |
Corporation Clerks |
|
Hermon Holt (1907-21) |
Thomas W. Fry (1907-33) |
Henry C. Hawkins (1907-62) |
|
Thomas W. Fry (1922-32) |
Victor E. Potvin (1934-39) |
Henry C. Hawkins Jr. (1963-75) |
|
Howard A. Lincoln (1933) |
Henry S. Richardson (1940-44) |
Beverly M. Thorn (1976-78) |
|
Victor E. Potvin (1934-39) |
Henry C. Hawkins (1945-71) |
Shirley K Wentzell (1979-80) |
|
Henry S. Richardson (1940-44) |
Henry C. Hawkins Jr. (1972-79) |
Mary E. Anderson (1981-83) |
|
Henry C. Hawkins (1945-62) |
Albert D. Leahy Sr. (1980) |
Mary A. Smith (1984) |
|
Henry C. Hawkins Jr. (1963-76) |
Joseph J. Gorman (1981-91) |
Vicki H. Raymond (1985) |
|
Robert M. Love (1977-91) |
Arnold P. Shulins (1991-97) |
Cynthia A. Devaney (1985) |
|
H. Clay Hawkins IV (1991-08) |
Neil H. Daniels (1998-01) |
Nancy H. Staszkiewicz (1986) |
|
Sherwood C. Moody (2008-16) |
Albert D. Leahy Jr. (2001-03) |
Tracey L. Pope (1987-93) |
|
Reginald E. Greene (2016-2023) |
Frank E. Reed (2004-08) |
Candace T. Crawford (1994-09) |
|
Dave J. Finnerty (2023- |
Joseph J. Gorman (2009-11) |
Brenda M. Reed (2009-17) |
|
Mark S. Thompson (2012-16) |
Carol L. Vivian (2017- |
|
|
Thomas P. Connair (2016-19) |
|
|
|
Steven L. Monette (2019-22) |
|
|
|
Heather J. Minkler (2023- |
|