Georgetown Bank

Georgetown Bank was established on May 21, 1868, originally under the name Georgetown Savings Bank and initially operated without Federal Deposit Insurance Corporation (FDIC) insurance. The bank achieved FDIC insurance status on August 26, 1985, and shortly thereafter, it moved its main office to 7 North Street in Georgetown, Massachusetts. Over the years, Georgetown Bank underwent several regulatory and structural changes, including a transition to a federal savings bank on January 5, 2005, and an adjustment of its trust powers to limited status on the same day. The bank changed its primary federal regulatory agency from the Office of Thrift Supervision to the Office of the Comptroller of the Currency on July 21, 2011. On August 27, 2012, it officially changed its name to Georgetown Bank. The main office relocated again on May 12, 2003, to 2 East Main Street in Georgetown. Ultimately, Georgetown Bank merged with Salem Five Cents Savings Bank on May 23, 2017, becoming part of the larger institution based in Salem, Massachusetts.

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

1868-05-21Institution established but was not FDIC insured. Original name: Georgetown Savings Bank.

1985-08-26Main Office moved to 7 North Street, Georgetown, MA 01833.

1985-08-26Became FDIC insured.

2003-05-12Main Office moved to 2 East Main Street, Georgetown, MA 01833.

2005-01-05Changed Chartering Agency to Ots.

2005-01-05Changed Bank Class to Federal Savings Bank.

2005-01-05Changed Organization Type to Stock Savings Bank.

2005-01-05Changed Primary Federal Regulatory Agency to Ots.

2005-01-06Changed Trust Powers to Limited.

2011-07-21Changed Primary Federal Regulatory Agency to The Office of the Comptroller of the Currency.

2012-08-27Changed Institution Name to Georgetown Bank.

2017-05-23Merged and became part of Salem Five Cents Savings Bank in Salem, MA.