Mascoma Savings Bank

What Mascoma Savings Bank does

Mascoma Savings Bank (operating as Mascoma Bank) is a $2.99 billion-asset mutual community bank founded in 1899 and headquartered in Lebanon, New Hampshire. As of May 2026 the bank operates 28 branches and 2 loan offices across New Hampshire, Vermont, and Maine, employing nearly 400 people, and is structured as a Certified B Corporation with no outside shareholders. The institution delivers personal banking (checking, savings, CDs, IRAs, mortgages, and consumer loans), business banking (commercial mortgages, lines of credit, SBA loans, treasury services, and MascomaPay card processing), and wealth management through wholly-owned subsidiary Mascoma Wealth Management. Distribution combines a regional physical branch network with a digital banking platform launched in 2023 that includes financial wellness tools, credit score monitoring, and external transfers, plus phone-based customer care; product, deposit, and loan decisions are made locally.

Revenue is generated primarily through net interest income on the bank's loan portfolio net of deposit interest expense, with supplementary fee income from deposit account service charges ($5-$14.99 monthly on checking tiers), wealth management fees, MascomaPay card processing, and community development financing fees. A wholly-owned subsidiary, Mascoma Community Development (MCD), has received $480 million in New Markets Tax Credit allocations from the U.S. Treasury CDFI Fund since 2014 and deploys capital nationwide through co-allocatee partnerships, with 85% of allocations directed to non-metro, rural communities; MCD activities have created or maintained 6,911 jobs. The bank supplements commercial revenue with a substantial philanthropic program, donating $11.4 million over five years and budgeting 10.06% of pre-tax income for community giving.

In May 2026 Mascoma Bank announced a partnership with Androscoggin Bank to combine their parent companies into a new mutual holding company, ClearNorth Financial Mutual Holding Company; both banks will retain separate brands, charters, and Boards of Directors under equal representation, and Mascoma's CEO Clay Adams will serve as CEO of the new MHC while Androscoggin's CEO will be President. The bank is regulated as a mutual savings bank and as a B Corp, holds FDIC membership, Equal Housing Lender designation, BankOn certification, and an Outstanding CRA rating, and serves customers across consumer, small business, nonprofit, municipal, and high-net-worth segments.

Name

Mascoma Savings Bank

Legal name

Mascoma Bank

Website

https://mascoma.bank

Company type

Private

Founded year

1899

Operating status

Operating

Headcount range

251–500 employees

Short description

Mascoma Bank is a $2.99 billion-asset mutual community bank and Certified B Corporation founded in 1899, serving individuals, businesses, nonprofits, and municipalities across New Hampshire, Vermont, and Maine through 28 branches, digital banking, wealth management, and a nationwide New Markets Tax Credit subsidiary.

Ownership category

akta.pro rank

Product category

Community Banking

NAICS

Savings Institutions and Other Depository Credit Intermediation (522180)

SIC

Savings Institutions, Not Federally Chartered (6036)

akta.pro primary industry

Savings Banks (Public/State-Owned) (FSABAKAK)

Keywords

• Community banking
• Retail banking services
• Commercial lending
• Wealth management
• New markets tax credits

Headquarters

HQ city

White River Junction

HQ country

United States

HQ region

North America

Offices27 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales, Others

Revenue model

1. Net Interest Income: Traditional banking revenue from interest earned on loans (mortgages, commercial loans, personal loans) minus interest paid on deposits. As a mutual bank, profits are retained for community benefit rather than distributed to shareholders.
2. Deposit Account Fees: Monthly service fees on checking accounts (More Checking $5, My Checking $10, Relationship Gold $14.99) and other account-related charges.
3. New Markets Tax Credit Program: Mascoma Community Development (MCD), a wholly-owned subsidiary, generates revenue through NMTC allocations to support community development projects nationwide. Receives fees through NMTC activities.
4. Wealth Management Services: Comprehensive wealth management including financial planning, discretionary investment management, trust services, retirement planning, and private banking with fee-based compensation structure.
5. Business Banking Services: Commercial mortgages, construction loans, lines of credit, equipment loans, SBA loans, cash management, treasury services, and MascomaPay credit/debit card processing.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels6 records

Core offering

Mascoma Savings Bank is a mutual community bank providing personal banking (checking, savings, CDs, IRAs, mortgages, personal loans), business banking (commercial loans, cash management, MascomaPay card processing), wealth management (investment management, financial advising, trust services, private banking), and community development financing through New Markets Tax Credits. The bank serves individuals, businesses, nonprofits, and municipalities across Northern New England through 28 branches, a digital platform, and a mobile app, while operating as a Certified B Corporation prioritizing community benefit over shareholder returns.

Product overview

Mascoma Bank is a $2.99 billion mutual community bank and Certified B Corporation serving Northern New England since 1899 with 28 branches. The company operates as a multi-product financial services institution organized around five core pillars: Personal Banking (checking, savings, CDs, mortgages, personal loans), Business Banking (deposit accounts, commercial loans, MascomaPay card processing, cash management), Wealth Management (Mascoma Wealth Management, Mascoma Financial Advisors, Trust Services, Private Banking), Digital Banking (online and mobile platforms with financial wellness tools), and Mascoma Community Development (New Markets Tax Credits for community investment). Additional services include Financial Wellness education, Fraud Prevention, and a philanthropic Giving program. The bank distinguishes itself through its mutual ownership structure and B Corp certification, prioritizing community benefit over shareholder returns.

Differentiator

Problem solved

Functional benefit

Brands

• Mascoma Community Development: Community development entity that directs capital to underserved communities through New Markets Tax Credit financing
• Mascoma Wealth Management
• Mascoma Financial Advisors
• Mascoma Experiences
• MascomaPay

Products and services

• Personal Banking Comprehensive personal banking services including deposit accounts (checking, savings, CDs, IRAs), consumer loans (mortgages, personal loans, auto/boat loans, home equity), and financial advisory services for individuals and families in Northern New England.
• Business Banking Commercial banking services including business deposit accounts, commercial loans, cash management, treasury services, municipal banking, and MascomaPay card processing for business customers in Vermont and New Hampshire.
• MascomaPay Card Processing Credit and debit card processing service offered through Clover point-of-sale devices for new and existing business banking customers throughout Vermont and New Hampshire.
• Mortgages Home mortgage products including standard mortgages, First Time Home Buyer Program, Dartmouth Mortgage Program, UVM Mortgage Program, MaineHealth Mortgage Program, Physician Mortgage Program, and Accessory Dwelling Units financing.
• Business Loans Commercial lending products including commercial mortgages, construction loans, lines of credit, equipment loans, community development loans, solar loans, letters of credit, and SBA loans for businesses in New Hampshire, Vermont, and Maine.
• Mascoma Wealth Management Comprehensive wealth management services including discretionary investment management, financial planning, trust services, retirement planning, and private banking with fee-based compensation structure for high-net-worth clients served through offices in Hanover NH, Burlington and Norwich VT, and Portland ME.
• Mascoma Financial Advisors Investment and insurance solutions offering personalized guidance and a spectrum of financial products for clients building financial momentum.
• Trust Services Institutional trusteeship services for families planning generational wealth transfer or managing existing trusts, providing fiduciary expertise and support.
• Private Banking Personalized banking services with dedicated Private Bankers guiding clients through professional and personal financial needs throughout life stages.
• Digital Banking Online and mobile banking platform enabling account access, fund transfers between Mascoma accounts and other institutions, bill payment, credit score monitoring, savings goals, and spending tracking. Compatible with Apple Pay, Google Pay, and QuickVoice telephone banking.
• Mascoma Community Development (NMTC Financing) Community development financing through New Markets Tax Credit allocations supporting high-impact, mission-focused projects in severely distressed low-income communities including manufacturing, downtown redevelopment, and essential services nationwide.
• Giving Program Philanthropic program donating over $1 million annually to area nonprofits, including donation and sponsorship portal for sponsorships and the Mascoma Bank Foundation for capital and endowment campaigns.

Quantifiable outcome

• 236 first mortgages issued to families in 2024
• +5 more outcomes

Named customers12 records

Segments6 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

AI capability1 record

Feature3 records

Partnerships

Four partnerships are on record, tiered core and minor.

• Androscoggin BankcoreStrategic or Co-development Partner · 11 May 2026Plans to combine parent companies into a single mutual holding company called ClearNorth Financial Mutual Holding Company. Both banks will continue operating with their own names, brands, charters, and Boards of Directors. This is not an acquisition but a partnership between two Benefit Corporations. The new MHC Board will have equal representation from both institutions.
• Hogan Lovells US LLPminorOthers · 11 May 2026Served as legal counsel to Androscoggin Bank for the mutual holding company transaction.
• Covington & Burling, LLPminorOthers · 11 May 2026Served as legal counsel to Mascoma Bank for the mutual holding company transaction.
• Granite EdvanceminorStrategic or Co-development PartnerNonprofit in Concord, NH that helps students find their direction and fund their future. Mascoma Bank partnered to connect customers to responsible student lending and refinancing products.

Scale indicators15 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Androscoggin Bank: Maine-based mutual community bank and Certified B Corporation, directly comparable as the announced ClearNorth Financial MHC partner with similar size, mutual structure, B Corp values, and Northern New England footprint.
• Bar Harbor Bankshares: Maine-based community bank holding company (parent of Bar Harbor Bank & Trust) serving Northern New England with consumer, commercial, and wealth management services. Comparable regional scale, customer mix, and product breadth.
• Passumpsic Savings Bank: Vermont-headquartered mutual savings bank serving Northern New England with personal and business banking, comparable to Mascoma in mutual savings institution structure, community focus, and regional deposit franchise.
• Lake Sunapee Bank: New Hampshire-headquartered mutual savings bank within the New Hampshire Mutual Bancorp MHC, offering personal and business banking. Comparable in mutual structure, NH deposit franchise, and community banking model.
• Northfield Savings Bank: Vermont-based mutual savings bank offering deposit accounts, mortgages, and business banking. Comparable to Mascoma as a community-focused mutual savings institution serving rural Northern New England.
• Camden National Bank: Maine-headquartered community bank offering consumer, commercial, and wealth management banking across Northern New England. Comparable in regional footprint, full-service banking model, and community banking positioning.
• Community National Bank: Vermont-based community bank (division of Community Bancorp) serving consumers, businesses, and municipalities. Comparable in Vermont geography, community banking focus, and full-service product offering.

Broad incumbents

• Eastern Bank: Largest mutual community bank in the U.S., headquartered in Massachusetts with significant presence across New England. Comparable as a mutual B Corp-aligned institution with broader New England geographic reach.
• TD Bank (TD Banknorth): Major regional commercial and retail bank with deep New Hampshire and Vermont branch presence. Competes with Mascoma for retail deposits, mortgages, and small business banking across shared Northern New England footprint.

Regional players

• Ledyard National Bank: New Hampshire community bank providing personal, business, and wealth management services. Comparable in geographic footprint and community banking orientation, though smaller scale and a different ownership structure.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/mascoma-bank

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Subsidiaries3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Mascoma Savings Bank