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Our History

As a mutual savings bank, Thomaston Savings Bank is owned by you, the customer. Why is that important? Because you're who we report to. There's no risky business practices here, no faceless quota to serve.

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Our Future is Brighter Because of the Strength of Our History

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.

Our Mission

It isn’t a marketing message, or a clever sales spin. It’s about being here as long as anyone can remember. About truly knowing “here” inside and out. About telling others what works. And making sure those around you grow.

Thomaston Savings Bank is a full-service Connecticut community financial institution, dedicated to providing financial services of the highest quality and value to neighbors and local businesses around here.

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.

Our Strength

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.

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 over 100 consecutive quarters. Fewer than 10% of the nation's banks can claim this distinction.