Merchants Bank

Merchants Bank, originally established as The Merchants National Bank of Burlington in 1849, has undergone significant transformations throughout its history. In the early years, it primarily operated under its original name until it changed to The Merchants Bank in 1974, coinciding with a shift in its chartering agency to state oversight and withdrawal from the Federal Reserve System. Over the following decades, the bank expanded through multiple acquisitions, including Northfield Trust Company in 1971, Hardwick Trust Company in 1977, and Catamount Bank in 1980. Throughout the 1990s, Merchants Bank continued its growth strategy by acquiring New First National Bank of Vermont in 1993 and Sterling Trust Company in 1985. In 2009, it acquired The Merchants Trust Company, further solidifying its presence in the financial sector. The institution relocated its main office several times, with the most recent move to 275 Kennedy Drive, South Burlington, Vermont, in June 2014. In December 2015, Merchants Bank expanded its operations by acquiring Nuvo Bank & Trust Company located in Springfield, Massachusetts. Ultimately, on May 12, 2017, Merchants Bank merged with and became part of Community Bank, National Association, based in Canton, New York, concluding its independent operations.

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

1849-01-01Institution established. Original name: The Merchants National Bank of Burlington.

1970-07-09Changed Institution Name to The Merchants National Bank of Burlington.

1970-07-09Acquired Barre Trust Company in Barre, VT.

1971-03-01Main Office moved to 123 Church Street, Burlington, VT 05401.

1971-11-01Acquired Northfield Trust Company in Northfield, VT.

1974-09-06Institution withdraws from membership in the Federal Reserve System.

1974-09-06Changed Chartering Agency to State.

1974-09-06Changed Institution Name to The Merchants Bank.

1977-03-04Acquired Hardwick Trust Company in Hardwick, VT.

1979-05-04Changed Trust Powers to Full.

1980-12-30Acquired Catamount Bank in North Bennington, VT.

1985-04-01Acquired Sterling Trust Company in Johnson, VT.

1993-06-04Acquired New First National Bank of Vermont, National Association in Bradford, VT.

1996-05-24Main Office moved to 164 College Street, Burlington, VT 05401.

2009-09-30Acquired The Merchants Trust Company in South Burlington, VT.

2011-11-14Changed Institution Name to Merchants Bank.

2014-06-30Main Office moved to 275 Kennedy Drive, South Burlington, VT 05403.

2015-12-05Acquired Nuvo Bank & Trust Company in Springfield, MA.

2017-05-12Merged and became part of Community Bank, National Association in Canton, NY.