CHELSEA BANK

Chelsea Bank was established on January 1, 1970, initially operating under the name Chelsea-Provident Co-operative Bank without Federal Deposit Insurance Corporation (FDIC) insurance. Over the years, the institution underwent several significant changes, including becoming a member of the Federal Reserve System on May 15, 2008, and subsequently altering its regulatory status to a state-chartered bank. On October 15, 2010, the bank changed its name to Chelsea Bank. The institution continued to operate until March 1, 2015, when it merged with East Cambridge Savings Bank, located in Cambridge, Massachusetts.

Below is a list of some important events in banks history, including mergers and acquisitions.

DATEEVENT

1970-01-01Institution established but was not FDIC insured. Original name: Chelsea-Provident Co-operative Bank.

2008-05-15Institution becomes member of the Federal Reserve System.

2008-05-15Changed Bank Class to State Chartered Bank, member of the Federal Reserve System (FRS).

2008-05-15Changed Primary Federal Regulatory Agency to FED.

2010-10-15Changed Institution Name to Chelsea Bank.

2015-03-01Merged and became part of East Cambridge Savings Bank in Cambridge, MA.