Thomaston Savings Bank began a tradition of family banking for people of the community. It was George A. Stoughton who had been most active in collecting signatures for a petition to the Legislature. After the charter was granted in August 1874, it was Mr. Stoughton who made room in his store, Burr & Stoughton, for the Bank.
In September 1874, David Merriam made the first deposit. Under successive presidents, vice-presidents and secretary-treasurers, the Bank continued to serve the growing manufacturing town from varying locations until it moved into its own building on December 15, 1939 – a new colonial-style office built on the same site where Seth Thomas had originally built his home.
From its humble beginnings in the Burr & Stoughton department store, Thomaston Savings Bank has expanded its role to meet the financial needs of individuals, families, and businesses located throughout western Connecticut and is now one of the strongest financial institutions in the state.
Today, in the spirit of enterprise and endeavor that is the heritage of the former farming hamlet that became its own small city, Thomaston Savings Bank looks back with pride to its achievements – and looks ahead with dedication to a continued tradition of community banking.
Thomaston Savings Bank is a full service community financial institution. We are dedicated to providing financial services of the highest quality and value to our customers.
Thomaston Savings Bank is a state chartered mutual savings bank, incorporated in 1874. We will continue to be the primary financial resource center within our community, listening to our customers and providing friendly and efficient service.
We will continue to be a responsible corporate neighbor, responding to the human and material needs of our community and assisting in improving the quality of life for our neighbors.
Thomaston Savings Bank accepts with resolve, the responsibilities of being "the Community Bank." It is our commitment to pledge the resources necessary to support an efficient, reputable, progressive and secure financial institution, to serve present and future generations.
We’ve been a part of your community since 1874. We have thrived as an independent mutual savings bank in a tumultuous era of mergers, conversions and takeovers by being financially responsible and remaining committed to our mission. Thomaston Savings Bank has remained strong, simply because we have never adopted risky business practices, nor strayed from our core beliefs. We're safe, well-capitalized and still a mutual savings bank. We remain steadfast in our commitment to our community and to you, our loyal customers.
The Connecticut Bar Foundation has recognized Thomaston Savings Bank as a Leadership Bank for the Bank's participation in IOLTA/IOTA.
Thomaston Savings Bank has been awarded the top rating of five stars by BauerFinancial, Inc. BauerFinancial is the nation’s leading independent bank rating and research firm. The firm has analyzed banks and credit unions since 1983. Financial institutions cannot pay to be rated, nor can they ask to be excluded. Thomaston Savings Bank has received the top rating from Bauer Financial for 100 consecutive quarters. Fewer than 10% of the nation's banks can claim this distinction.
Seifried & Brew LLC, a community bank risk management firm, named Thomaston Savings Bank in its 2011 Top 15th Percentile of Community Banks. To gain entry into this distinguished ranking, the Bank demonstrated exemplary performance of balancing risk and reward based on the Bank’s S&B Total Risk/Return Composite Ranking. This is no small feat considering that the Bank not only survived the Financial Crisis but actually thrived. This supports Seifried & Brew’s belief that conservative, traditional community banking is the strength of our financial system.
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