In the early 1870s, Marblehead, Massachusetts, a quaint coastal town north of Boston, was home to a diverse population. Its residents ranged from hardworking fishermen to the affluent “codfish aristocracy” and city dwellers seeking respite from the summer heat.
Leadership and Vision
Recognizing the needs of this growing and varied community, local leaders John F. Harris, Jonathan H. Orne, Isaac C. Wyman, Nathan P. Sanborn, and Thomas Garvey envisioned a bank that would safeguard the savings of Marblehead residents. Their vision became a reality on March 18, 1871, when Marblehead Savings Bank was chartered and opened its doors for business in the historic Lee Mansion’s dining room.
A Permanent Home
As the years passed, the bank flourished, outgrowing its initial temporary location. By the late 1930s, sustained success and expansion underscored the need for a permanent, centrally located headquarters with room for future growth.
Under the leadership of Bank President William S. Goldthwait and the building committee, the bank secured a prime location at the prominent bend of Atlantic Avenue, marking the “cornerstone” for the bank’s future. In 1940, plans were finalized, and Marblehead Savings Bank established its permanent address at 21 Atlantic Avenue.
Continued growth necessitated further expansion and renovation of the Atlantic Avenue building over subsequent years. By 1975, the bank broadened its reach with the acquisition of the Humphrey Street office.
A Name Change
As Marblehead Savings Bank evolved, offering a wider array of services and products to the community, the name no longer fully reflected its expanded scope. In October 2008, the word “Savings” was removed, and the institution moved forward as Marblehead Bank.
Furthering its commitment to the region, Marblehead Bank opened a new branch in 2016 at 125 Canal Street in Salem, Massachusetts, extending its services to the people and businesses of this neighboring community.
Into the Future
Today, our officers and staff uphold the same dedication to the bank’s mission as our founders. We are committed to providing our customers with the highest quality service, along with the diverse products and services you need and desire – all while ensuring the bank’s long-term stability.
Through the ongoing development of our team and the strategic adoption of available technology, we will continue to achieve our mission. We are proud to be an integral part of this community, a trusted neighbor, and, above all, dedicated to serving our valued customers.
We can’t wait to see what the future holds!
“When I walked into the bank on Atlantic Ave., I immediately felt a friendly, at-home sensation. Not only was it lovely, everyone was so inviting and willing to help. All with smiles.”
Erm K.