|Exchange:||NASDAQ national market|
|Stock:||New Hampshire Thrift Bancshares, Inc.|
|Industry:||Savings & Cooperative Banks|
|New Hampshire Thrift Bancshares, Inc. is a Delaware holding company formed on July 5, 1989, is the parent company of a federally chartered savings bank called Lake Sunapee Bank. The Bank was originally chartered by the State of New Hampshire in 1868 as the Newport Savings Bank. The Bank was converted from a state-chartered mutual savings bank to a federally chartered mutual savings bank On December 1, 1980, and in 1981 it changed its name to “Lake Sunapee Savings Bank, fsb” and in 1994, refined its name to “Lake Sunapee Bank, fsb.” The company offers a variety of deposit accounts. Its deposits consist of business checking, money market accounts, savings, NOW and certificate accounts. It uses traditional means to advertise its deposit products, including print media, and generally does not solicit deposits from outside its primary market areas. The Bank is a thrift institution established for providing a convenient and safe place to invest funds, for the financing of housing, consumer-oriented products and commercial loans, and for providing a variety of other consumer-oriented financial services. The Bank is promoting the ideals of thrift, security, home ownership and financial independence for its customers. Its operations are conducted from its home office located in Newport, New Hampshire and its branch offices located in Sunapee, Newbury, New London, Bradford, Grantham, Guild, Lebanon, West Lebanon, Hillsboro, Peterborough, Andover, Claremont, Enfield, and Milford, New Hampshire, and Brandon, Pittsford, Rutland, West Rutland, and Woodstock, Vermont. The banks lending activities includes real estate loans, real estate construction loans, consumer loans, commercial loans, municipal loans. Its lending activity is the origination of conventional loans secured by first mortgage liens on residential properties, single-family residences. It also evaluates the security for each new loan made. Appraisals, when required, are done by qualified sub-contracted appraisers. The Bank owned two service corporations: the Lake Sunapee Group, Inc. and the Lake Sunapee Financial Services Corporation. The company has several competitors like thrifts and commercial banks, credit unions for attracting deposits; for investor’s funds it’s facing competition from mutual funds and other corporate and government securities; and for real estate loans the competition comes from mortgage banking companies, other thrift institutions and commercial banks. The Bank, as a federal savings bank, is subject to regulation, examination and supervision by the OCC, as its primary regulator, and the FDIC as its deposit insurer.|
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