Jewett City Savings Bank held its 153rd Annual Meeting of Corporators on March 25 at the Jacques Cartier Club in Jewett City. The Bank’s President and CEO, Michael Alberts, announced record growth, including total assets of $484 million, a 9% increase over the previous year, and net income of over $5 million, up 17% from last year.
This growth allowed the Bank to build on its commitment to providing loans to fuel business growth and expand residential mortgage capabilities to support homeownership. It also increased funding to the Jewett City Savings Bank Foundation to support non-profit organizations that work to enhance the quality of life in local communities.
New Branch Location
Alberts also announced that the Bank will begin construction of its eighth full-service branch in Mansfield. The new customer-centric location will offer personalized service to individuals and businesses, along with state-of-the-art technology, including a drive-up ATM.
Board of Directors Re-election
During the meeting, the Corporators re-elected Board Members Betsy Barrett, Matthew Desaulnier, and Diane Manning, who was elected the first female Chairperson of the Board in 2024. In addition, Brittany Valentine was appointed corporator.
“We’re proud of our record growth, which will allow us to support the needs of individuals, businesses, and our local communities for years to come,” said Alberts. “Our success would not be possible without the work of our employees, senior leadership, and experienced team of Directors.”
The 2025 Jewett City Savings Bank Annual Report is available by clicking here (pdf).
