Franklin Savings Bank

What Franklin Savings Bank does

Franklin Savings Bank is an FDIC-insured, independent community bank headquartered at 387 Central Street in Franklin, New Hampshire, operating continuously since its founding in 1869. It serves individuals, small to mid-size businesses, non-profits, and municipalities in central New Hampshire through seven branch locations (Franklin with two offices, Bristol, Boscawen, Tilton, Gilford, Goffstown, and Merrimack), a 24/7 mobile and online banking platform, telephone banking, and access to over 55,000 surcharge-free ATMs via the Allpoint network.

The bank offers a comprehensive product suite. Personal banking includes five checking tiers (Easy, Student, Solutions/second-chance, Choice, PassKey/premium), savings and money market accounts, CDs (standard, SMART education CD, CDARS), IRAs (Traditional, Roth, Variable-Rate), Visa debit cards, and Platinum credit cards issued through TCM Bank. Business banking spans commercial mortgages, construction and equipment loans, lines of credit, letters of credit, multiple business checking variants (including Free Business Checking, Business Advantage, Non-Profit, and IOLTA), business savings and CDs, business debit/credit cards, and cash management services such as ACH, payroll processing, merchant services via BASYS, online check deposit (CheckConnect24), and lockbox services. Government banking includes tax, revenue, and bond anticipation notes and government lines of credit. Insurance-style deposit solutions (Insured Cash Sweep, CDARS) extend FDIC coverage for larger depositors. Digital channels integrate Zelle, Apple Pay/Samsung Pay/Google Pay, mobile card controls, and text alerts.

Franklin Savings Bank's revenue model is the standard community bank model: net interest income from commercial loans, mortgages, construction loans, equipment financing, and consumer credit, supplemented by fee income from deposit account maintenance and transaction fees, interchange on Visa debit and credit cards, merchant services processing fees, and subscription revenue from identity theft resolution services. The bank employs over 120 people and is led by President and CEO Brian Bozak with a leadership team whose members collectively bring over 300 years of banking experience. Distribution is community-led via branch-based relationship banking combined with direct-to-consumer digital channels, reinforced by an FSB@Work employer program and a deep community reinvestment posture anchored by the Franklin Savings Bank Fund for Community Advancement (272 grants, $1,306,359 since 1997) and the FSB Scholarship Fund (741 scholarships, $441,079 since 1994).

Name

Franklin Savings Bank

Legal name

Franklin Savings Bank

Website

https://fsbnh.bank

Company type

Private

Founded year

1869

Operating status

Operating

Headcount range

51–100 employees

Short description

Franklin Savings Bank is an FDIC-insured independent community bank founded in 1869, serving individuals, small to mid-size businesses, non-profits, and municipalities in central New Hampshire through seven branches, a mobile and online banking platform, and a broad suite of deposit, lending, cash management, and government banking products.

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

Branch & In-Person Banking (Teller/ATM Networks) (FSABAAAE)

akta.pro secondary industries

Mass-Market Consumer Deposit Banking (Checking/Savings) (FSABAAAA), Treasury, Cash Management & Liquidity Tools (Sweeps, Cash Concentration) (FSAGAAAG)

Keywords

• Community banking
• Commercial lending
• Retail deposit services
• Consumer banking
• Small business lending

Headquarters

HQ city

Franklin

HQ country

United States

HQ region

North America

Offices8 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Interest Income from Lending: Primary revenue stream from interest earned on commercial loans, mortgages, construction loans, equipment financing, and consumer credit products including credit cards
2. Checking Account Fees: Monthly maintenance fees, per-transaction fees, and minimum balance fees across various checking account products (Solutions Checking $10/mo, Choice Checking $7/mo if balance below $500, Passkey Checking $15/mo if below $25K combined)
3. Business Account Fees: Monthly maintenance and transaction fees for business checking accounts (Business Advantage Checking $20/mo if below $10K, per-item fees for deposits and checks)
4. Savings Account Fees: Monthly service charges when balances fall below minimum requirements ($1 for Statement Savings below $100, $10 for Money Market below $2,500)
5. Credit Card Interchange: Transaction fees earned on debit and credit card purchases processed through Visa network
6. Merchant Services: Credit and debit card processing fees from business customers through BASYS partnership
7. Deposit Insurance Premiums: Fees for Identity Theft Resolution Services offered to customers ($15 annual fee for non-PassKey customers, free for PassKey customers)
8. Cash Management Services: Fees for ACH services, payroll processing, lockbox services, and online check deposit

Pricing tiers

Go-to-market motion2 records

Distribution channels6 records

Marketing channels6 records

Core offering

Franklin Savings Bank is a privately held community bank headquartered in Franklin, New Hampshire, operating seven branches across central New Hampshire. It delivers a comprehensive suite of personal banking products (checking, savings, money market, HSA, CD, and IRA accounts, plus Visa debit cards and Platinum credit cards) and business banking services (commercial mortgages, construction and equipment loans, business lines of credit, business checking, cash management, merchant services, payroll processing, and government banking), supported by 24/7 mobile and online banking, Zelle peer-to-peer payments, mobile wallet support, 24/7 fraud monitoring, and 55,000+ surcharge-free Allpoint ATMs.

Product overview

Franklin Savings Bank is an independent community bank offering a comprehensive suite of personal and business banking products. The personal banking portfolio includes five distinct checking account types (Easy Checking, Student Checking, Solutions Checking, Choice Checking, and PassKey Checking), multiple savings options (Statement Savings Advantage, Kids Account, Choice Savings Club), and money market accounts (Money Market Advantage, Lakes MoneyMarket Plus, Lakes High Yield Savings). Certificate of Deposit offerings include Standard Term CDs (91-day to 5-year terms), the education-focused 5 Year SMART CD with penalty-free educational withdrawals, and CDARS for expanded FDIC coverage. IRA products encompass Traditional, Roth, and Variable-Rate options. The credit card lineup features FSB Visa Debit Cards and Platinum Credit Cards issued through TCM Bank, plus Mastercard Gift Cards. Digital banking services include Online Banking, Mobile Banking with Card Management features, Online Bill Pay, Text Alerts, Zelle peer-to-peer payments, and Mobile Wallet integration with Apple Pay, Samsung Pay, and Google Pay. Security offerings comprise Identity Theft Resolution Services (via Sontiq) and 24/7 Debit Card Fraud Monitoring. Business banking includes Commercial Lending (mortgages, construction, equipment loans, letters of credit, lines of credit), multiple business checking variants (Free Business Checking, Business Advantage Checking, Business Checking, Sole Proprietor & Organization Checking, Non-Profit Checking, IOLTA), business savings accounts, and Business Visa Debit/Credit Cards. Cash management services include ACH Services, Payroll Processing, Merchant Services (via BASYS), Online Check Deposit (CheckConnect24), Business Online/Mobile Banking, and Lockbox Services. Government banking serves municipalities with Tax Anticipation Notes, Revenue Anticipation Notes, Bond Anticipation Notes, Term Notes, and Lines of Credit. Insurance solutions include Insured Cash Sweep (ICS) for FDIC coverage beyond $250,000. The FSB@Work program provides employer-sponsored banking with financial education.

Differentiator

Problem solved

Functional benefit

Products and services

• Personal Checking Accounts Five personal checking tiers at Franklin Savings Bank: Easy Checking (no monthly fee, no balance requirement, $50 minimum to open), Student Checking for ages 13-22 (no monthly service charge, no returned item fees, $10 minimum to open), Solutions Checking for individuals with past financial difficulties ($10/month, eligible for upgrade after six months of good standing), Choice Checking (interest-earning on $500+ daily balance, $7/mo fee waived with balance), and PassKey Checking for Veterans or $25K+ combined deposit relationship (interest on all balances, complimentary identity theft resolution, overdraft reimbursement). All tiers include instant-issue Visa Debit Card, online banking, bill pay, and surcharge-free ATM access.
• Personal Savings Accounts FDIC-insured savings products including Statement Savings Advantage (interest-bearing, $10 minimum, tiered rates with $1/mo fee below $100 balance), Kids Savings Account for children up to age 13 (interest on balances of $0.50+ with prize rewards), and Choice Savings Club (flexible goal-based savings with recurring deposit options and annual or semiannual payouts).
• Money Market Accounts Tiered interest-bearing money market accounts with FDIC insurance: Money Market Advantage ($2,500 minimum opening deposit, higher rates at higher balance levels), Lakes MoneyMarket Plus (exclusively for FSB checking customers, $2,500 minimum), and Lakes High Yield Savings (higher-tier interest with rewards for larger balances and Identity Theft Resolution Services enrollment).
• Health Savings Accounts (HSAs) Tax-advantaged Health Savings Accounts paired with high-deductible health plans (HDHPs), requiring $100 to open. Provides tax-free distributions for qualified medical expenses and integrates with payroll services for employers offering HSA benefits to employees.
• Certificates of Deposit (CDs) FDIC-insured CD products with $500 minimum deposits, including Standard Term CDs (91-day to 5-year terms with rates from 2.00% to 3.50% APY), the 5 Year SMART CD allowing penalty-free withdrawals for qualified educational expenses ($100 minimum), and CDARS (Certificate of Deposit Account Registry Service) providing multimillion-dollar FDIC coverage through reciprocal deposits for balances exceeding the $250K insurance limit.
• Individual Retirement Accounts (IRAs) Retirement savings options including Traditional IRA (tax-deferred, 182-day to 5-year terms, potential tax-deductible contributions), Roth IRA (after-tax contributions with tax-free qualified distributions after age 59½, 3-month to 5-year terms), and Variable-Rate IRA Savings (flexible, no fixed maturity, scheduled transfers from FSB checking/savings).
• FSB Visa Debit Card EMV debit card combining ATM functionality with Visa purchasing power for point-of-sale purchases, linked directly to FSB checking accounts. Features 24/7 debit card fraud monitoring with text/phone alerts, automatic card blocking for suspicious activity, mobile wallet compatibility (Apple Pay, Samsung Pay, Google Pay), and instant issue at branch.
• Platinum Credit Cards Four variants of Platinum credit cards issued through TCM Bank, N.A. (NMLS# 709434) with no annual fee, fraud monitoring, zero fraud liability, mobile payment compatibility (Apple Pay, Samsung Pay, Google Pay), Tap-to-Pay EMV chip technology, cell phone protection, travel accident insurance, and 24/7 customer service.
• Mastercard Gift Cards Prepaid Mastercard Gift Cards issued by Pathward, N.A. pursuant to license by Mastercard International Inc., available in amounts from $10 to $1,000 with a $2.50 activation fee (waived for PassKey customers) and usable wherever Mastercard is accepted.
• Investment Services Investment products and services offered through Franklin Savings Bank's SVP of Investment Services and routed via the bank's external wealth partner (linked through https://www.ifa-nh.com/), enabling retail and business customers to access investment planning alongside their banking relationship.
• Identity Theft Resolution Services Managed identity restoration service delivered through Sontiq, offering 24/7 Certified Resolution Specialists and a three-phase approach (Discovery, Mitigation/Resolution, Protection). Available as a standalone subscription for $15/year, included free with PassKey Checking, and covering the entire household including dependents under 23.
• Business Checking Accounts Multiple business checking variants at Franklin Savings Bank: Free Business Checking ($100 minimum, no monthly maintenance, 200 free transactions/cycle), Business Advantage Checking ($500 minimum, 300 free transactions/cycle, $20/mo waived with $10K combined relationship), Sole Proprietor & Organization Checking (interest-bearing with $500 minimum), Non-Profit Checking (free with no monthly service charge and unlimited transactions for 501(c)(3) organizations), and IOLTA Accounts offering 2% interest with earnings supporting the NH Bar Foundation's statewide IOLTA Grants Program.
• Business Savings & Money Market Accounts Interest-bearing business savings and money market products including Statement Savings for Business ($10 minimum, ATM access via Allpoint), Business Money Market (tiered with $2,500 minimum opening deposit and FDIC insurance), and Commercial High Yield Savings (tiered rates with higher interest at $50K+ balances).
• Commercial Mortgages Commercial real estate loans for business property purchase, construction, refinancing, or renovation with competitive rates and terms up to 25 years, originated through Franklin Savings Bank's Commercial Lending Team. Example: $20 million dormitory renovation financing for Tilton School.
• Construction Loans Business construction financing for new buildings, renovations, expansions, or repairs with competitive rates and the option to convert to permanent financing upon project completion.
• Equipment Loans Business loans for purchasing new or used equipment with competitive rates, reasonable down payments, and no prepayment penalties, enabling businesses to finance essential operating assets.
• Business Lines of Credit Revolving credit lines that improve business cash flow with monthly interest-only payments, designed for short-term working capital or seasonal financing needs.
• Letters of Credit Commercial-lending-team-structured letters of credit serving as payment guarantees to third parties, usable in place of insurance bonds for businesses.
• Business Credit Cards Business credit cards issued through TCM Bank, N.A., increasing business cash flow with purchasing power, rewards, 24/7 customer service, and travel benefits while providing ongoing expense-tracking and employee-card-management features.
• Merchant Services Credit and debit card payment processing solutions delivered through the BASYS partnership, including mobile credit/debit authorizations, point-of-sale terminals, and EMV chip technology for business customers.
• Payroll Processing Bank-managed payroll processing service handling payroll calculations, tax withholdings, and direct deposit for businesses, streamlining workforce payment operations.
• ACH Services Electronic payment processing enabling businesses to make and receive ACH transactions, streamlining payment processes and improving cash flow.
• Online Check Deposit (CheckConnect24) CheckConnect24 electronic check deposit service enabling businesses to scan and deposit checks remotely using a desktop scanner and internet connection, accelerating receivables and reducing mail float.
• Lockbox Services Customized retail and wholesale lockbox processing that collects mail from a NH USPS Post Office Box, processes remittances, and provides daily deposit reports with web access for businesses.
• Insured Cash Sweep (ICS) FDIC insurance solution allowing businesses to access multimillion-dollar deposit coverage through the ICS network with daily sweeps and up to $100 million capacity per client, providing single-bank convenience for large deposit balances.
• Government Banking Services Specialized banking for municipalities, public schools, and government entities in New Hampshire, including Tax Anticipation Notes (short-term financing bridging funding gaps before tax revenues), Revenue Anticipation Notes (project financing before expected revenue is received), Bond Anticipation Notes (short-term interest-bearing securities funding projects until permanent financing), Term Notes (fixed-term financing), and Government Lines of Credit (revolving credit with unlimited withdrawals up to a specified limit).
• FSB@Work Employer-sponsored banking program that brings on-site financial education, enrollment sessions, budget planning assistance, credit counseling, retirement planning, and account incentives (including a $50 direct deposit incentive) to businesses and their employees, deepening FSB's relationships with local employers.

Quantifiable outcome

• 272 grants totaling $1,306,359 awarded through Fund for Community Advancement since 1997
• +3 more outcomes

Named customers6 records

Segments5 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration14 records

Feature8 records

Partnerships

Ten partnerships are on record, tiered supporting and core.

• SontiqsupportingTechnology or IntegrationPartnership with Sontiq, a fully managed identity restoration service, to provide Identity Theft Resolution Services to FSB customers. Services include 24/7 Certified Resolution Specialists, three-phase approach (Discovery, Mitigation/Resolution, Protection), and coverage for entire household including dependents under 23.
• AllpointcoreChannel Partner/ Reseller/ DistributorFSB is a member of the Allpoint ATM network providing customers access to 55,000+ surcharge-free ATMs nationwide including CVS, Walgreens, Target, Hess, Sunoco, Circle K, and Speedway locations. This partnership enhances customer convenience and reduces banking costs.
• Meredith Village Savings BanksupportingChannel Partner/ Reseller/ DistributorFSB customers can use Meredith Village Savings Bank ATMs free of charge, providing additional surcharge-free ATM access in the region.
• BASYScoreChannel Partner/ Reseller/ DistributorPartnership with BASYS to provide safe and secure credit and debit card payment processing solutions for business customers including mobile processing, point-of-sale terminals, and EMV chip technology.
• CDARS (Certificate of Deposit Account Registry Service)supportingTechnology or IntegrationFDIC insurance service allowing FSB to offer CDs over the $250,000 insurance limit through reciprocal deposits across multiple banks, providing customers with multimillion-dollar FDIC coverage while maintaining single-bank convenience.
• ZellecoreTechnology or IntegrationFast, safe, free person-to-person payment service integrated into FSB mobile banking app allowing customers to send money directly from their account to others using email or mobile phone number, typically within minutes.
• TCM Bank, N.A.coreOEM/ Whitelabel/ Licensing PartnerTCM Bank, N.A. issues FSB's Platinum credit cards (personal and business) including no annual fee, fraud monitoring, zero fraud liability, cell phone protection, and travel accident insurance. FSB branding on cards while TCM handles card operations.
• Pathward, N.A.supportingOEM/ Whitelabel/ Licensing PartnerPathward, N.A. issues FSB's Mastercard Gift Cards pursuant to license by Mastercard International. Prepaid cards available in amounts from $10 to $1,000 with low $2.50 activation fee.
• New Hampshire Charitable FoundationcoreStrategic or Co-development PartnerFranklin Savings Bank Fund for Community Advancement established as a fund within the New Hampshire Charitable Foundation. The Foundation manages fund assets while FSB provides grant recommendations for community projects in FSB's market area.
• VisacoreTechnology or IntegrationVisa debit and credit card network partnership providing card issuing capabilities, fraud monitoring services, Automatic Billing Updater, zero fraud liability protection, and mobile wallet integration (Apple Pay, Samsung Pay, Google Pay).

Scale indicators12 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• Bar Harbor Bank & Trust: Northern New England community bank holding company operating a network of full-service branches across ME, NH, and VT. Larger and more geographically diversified than Franklin Savings Bank, serving as a regional incumbent competing in overlapping NH markets.

Direct peers

• Lake Sunapee Bank: New Hampshire-based community bank operating full-service branches across central and western NH. Most directly comparable on geographic footprint, product breadth (consumer/business lending, deposits), and community-bank positioning.
• Savings Bank of Walpole: New Hampshire mutual savings bank offering consumer and business banking with a community-led GTM. Mirrors Franklin Savings Bank in charter type, geographic focus within NH, and full-service retail/community product suite.
• Meredith Village Savings Bank: New Hampshire mutual savings bank of similar scale offering full personal and business banking. Direct competitor in the Lakes Region footprint; also a reciprocal ATM partner of Franklin Savings Bank, indicating closely overlapping geographies and customer profiles.
• Northfield Savings Bank: Mutual savings bank serving Vermont and parts of New Hampshire with consumer and business banking. Comparable independent mutual charter, community-led GTM, and similar scale of branches and employees.
• Sugar River Bank: New Hampshire community bank serving the western/central portion of the state with full-service personal and business banking. Closely mirrors Franklin Savings Bank's product breadth and customer-segment focus.
• Mascoma Bank: New Hampshire and Vermont community bank with full-service branches, commercial lending, and community-focused GTM. Comparable in scale and operating model as an independent regional mutual/community institution.
• Claremont Savings Bank: New Hampshire mutual community savings bank serving western NH with consumer and commercial banking. Highly comparable in product mix, mutual savings charter structure, and community orientation.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks5 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/channel/UCzYBZ1CdDm3539sko5iPZPA
• Facebookfacebook.com/franklinsavingsbank
• LinkedInlinkedin.com/company/franklin-savings-bank
• Instagraminstagram.com/franklinsavingsbanknh
• Xx.com/fsb_nh

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles18 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 Franklin Savings Bank