GSB
Ascend Bank (formerly Guilford Savings Bank) is a Connecticut community bank offering personal and business deposit, lending, and digital banking services to consumers, small businesses, and commercial real estate clients across Connecticut and New England.
- Company typePrivate
- Founded1875
- HeadquartersGuilford, United States
- Headcount101–250
- GTM typeB2B and B2C
- OfferingServices
What GSB does
GSB operates as Ascend Bank, a Connecticut-based community bank founded in 1875 (originally as Guilford Savings Bank) and headquartered in Guilford. The institution provides retail and commercial banking services through a multi-branch distribution network combined with a digital banking platform accessible via web and a mobile application (iOS/Android). Its product portfolio spans core deposits — checking, savings, certificates of deposit, IRAs, and HSAs — alongside a lending suite that includes residential mortgages, home equity lines, personal loans, reverse mortgages, SBA loans, commercial real estate loans, term loans, lines of credit, and a Business Express Loans product. Digital banking services cover bill pay, mobile check deposit, fund transfers, digital statements, notifications, credit monitoring, money management, and Ascend Early Pay (up to two-day early direct deposit).
Technology architecture is built on a digital banking platform integrated with Jack Henry's Treasury Management system for commercial clients, Microsoft Outlook (Office 365) for appointment scheduling, and a credit monitoring service for consumer accounts. The bank holds NMLS# 517294 and is a Member FDIC, operating under standard depository regulatory compliance. Wealth management and advisory services are delivered through an affiliated sub-brand, Grey Ledge Advisors. Marketing and distribution rely on a hybrid model: physical branches, an Inside Sales phone channel, self-service digital banking, scheduled direct-sales appointments for commercial lending, and content/community engagement via Facebook, YouTube, LinkedIn, and the company's Knowledge Bank educational content hub.
Revenue is generated through traditional spread economics — interest income from the mortgage, consumer, and commercial loan book — supplemented by deposit-related fees, transaction fees (bill pay, credit monitoring, early pay), and commercial banking/treasury management fees. Go-to-market is sales-led via in-branch consultations, scheduled appointments, and digital self-service account opening, targeting Connecticut consumers and small-to-medium-sized businesses with relationship-based, locally-decided underwriting as the primary differentiator.
GSB firmographics
Firmographics- Name
- GSB
- Legal name
- Ascend Bank
- Website
- https://mygsb.bank
- Company type
- Private
- Founded year
- 1875
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- Ascend Bank (formerly Guilford Savings Bank) is a Connecticut community bank offering personal and business deposit, lending, and digital banking services to consumers, small businesses, and commercial real estate clients across Connecticut and New England.
- Ownership category
- akta.pro rank
GSB industry classification
Industry- Product category
- Community Banking
- NAICS
- Savings Institutions and Other Depository Credit Intermediation (522180), Commercial Banking (522110), Depository Credit Intermediation (5221)
- SIC
- Savings Institutions, Not Federally Chartered (6036)
- akta.pro primary industry
- Mass-Market Consumer Deposit Banking (Checking/Savings) (FSABAAAA)
- akta.pro secondary industries
- Retail Lending (Personal Loans, Auto, Credit Lines) (FSABAAAB), Bank-Affiliated Retail Wealth Management (FSAAAAAB)
Keywords
Where GSB is headquartered
LocationHeadquarters
- HQ city
- Guilford
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
GSB business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure
Revenue model
- Interest Income from Lending: Traditional banking revenue from interest earned on mortgage loans, personal loans, commercial real estate loans, and business loans including SBA loans, term loans, and lines of credit
- Deposit Services and Fees: Revenue from deposit products including checking accounts, savings accounts, CDs, IRAs, and HSA accounts, with associated service fees
- Digital Banking Services: Fees from digital banking services including bill pay, credit monitoring, and early pay features
- Commercial Banking Services: Business banking services including commercial real estate loans, business express loans, and cash management services for business customers
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | Personal Checking - Basic banking with digital access |
| Subscription | Monthly | Business Checking - Commercial banking accounts |
| One time/ perpetual license | Pay-as-you-go | Certificate of Deposit - Term deposit products |
| Transaction based/ take rate | Monthly | Lending Products - Mortgages, personal loans, commercial loans |
Go-to-market motion1 record
Distribution channels5 records
Marketing channels8 records
GSB product offering
Product offeringCore offering
GSB (operating as Ascend Bank, formerly Guilford Savings Bank) is a Connecticut-based community bank offering personal and business banking products including checking, savings, CDs, IRAs, HSAs, mortgages, home equity, personal loans, reverse mortgages, commercial real estate loans, SBA loans, and treasury management services, delivered through physical branches and digital banking channels.
Product overview
Ascend Bank (formerly Guilford Savings Bank) is a community bank offering a unified platform of personal and business banking products along with digital banking services. The product portfolio centers on core deposit products (checking, savings, CDs, IRAs, HSA), lending products (mortgages, home equity, personal loans, commercial real estate loans, SBA loans, business term loans, and lines of credit), and digital banking services (mobile app, bill pay, funds transfer, digital statements, credit monitoring, money management, treasury management). The bank operates with an integrated model where traditional banking products are supplemented by digital self-service tools, providing customers both in-person and online access to banking services.
Differentiator
Problem solved
Functional benefit
Brands
- Grey Ledge Advisors: Wealth management and advisory services offered through Ascend Bank.
Products and services
- Personal Checking
Companies that use GSB
Customer profileSegments3 records
Ideal customer profiles3 records
GSB technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration3 records
Feature3 records
GSB partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- Jack HenrycoreTreasury management services integrated with Jack Henry platform for business customers to access commercial banking functions including cash management and treasury operations
Scale indicators2 records
Recent moves6 records
Expansion highlights4 records
GSB competitors and assessment
Company assessmentDirect peers
- Dime Bank: Connecticut community bank headquartered in Norwich offering personal and business banking, mortgages, and commercial lending. Comparable in size, regulatory structure, and CT-focused service area to Ascend Bank.
- Torrington Savings Bank: Connecticut state-chartered mutual savings bank serving northwest CT with personal and business banking. Comparable in scale, structure, and community banking orientation as a similarly-sized CT savings institution.
- Chelsea Groton Bank: Connecticut community bank serving personal and business customers with checking, savings, lending, and digital banking. Directly comparable in scale, product mix, and geographic focus as another CT-based community savings institution.
- Fairfield County Bank: Connecticut community bank providing personal and commercial banking services across Fairfield County. Comparable as another CT-based community bank competing in similar deposit and lending markets with comparable product offerings.
- Liberty Bank: Connecticut-based mutual savings bank offering consumer and business banking across the state. Highly comparable as a CT-headquartered community savings institution with overlapping deposit, mortgage, and commercial lending products serving similar markets.
- Northwest Community Bank: Connecticut community bank headquartered in Winsted serving personal and business customers. Directly comparable as another CT savings/community institution of similar size with overlapping deposit and lending products.
- Salisbury Bank: Connecticut and New York community bank offering consumer and business banking across the northwest corner of CT. Comparable as a smaller community savings institution with similar deposit, lending, and digital service mix serving a regional footprint.
- Essex Savings Bank: Connecticut state-chartered savings bank serving the Connecticut River Valley with consumer and business banking products. Directly comparable as a similarly-sized CT savings institution with mutual/community bank heritage.
Broad incumbents
- Webster Bank: Large Connecticut-headquartered regional commercial bank with full personal, business, and commercial banking offerings. Comparable as a CT-rooted competitor, but materially larger and serving broader geographies and customer segments than Ascend Bank.
- People's United Bank (now part of M&T Bank): Major New England regional bank with deep Connecticut branch presence offering full retail and commercial banking. Comparable in product set but vastly larger and now part of M&T Bank, representing the scaled incumbent Ascend Bank competes against.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat4 records
Key risks6 records
Key highlights6 records
Customer concentration
GSB social profiles
Digital presenceGSB compliance and trust
Trust signalCompliance1 record
GSB financial estimates
Financial estimateRevenue estimate
Valuation estimate
GSB leadership team
Management profileNumber of profiles
Profiles4 records
GSB subsidiaries and ownership
Company hierarchySubsidiaries1 record
GSB funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
GSB M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about GSB
What does GSB do?
GSB (operating as Ascend Bank, formerly Guilford Savings Bank) is a Connecticut-based community bank offering personal and business banking products including checking, savings, CDs, IRAs, HSAs, mortgages, home equity, personal loans, reverse mortgages, commercial real estate loans, SBA loans, and treasury management services, delivered through physical branches and digital banking channels.
Is GSB a public or private company?
GSB is a private company. It is classified as unknown and is currently operating.
When was GSB founded?
GSB was founded in 1875. It employs 101 to 250 people.
Where is GSB based?
GSB is headquartered in Guilford, United States, in the North America region.
How does GSB make money?
Four revenue lines are on record. Interest Income from Lending is the primary driver. The others are deposit Services and Fees, digital Banking Services and commercial Banking Services.
Who are GSB's main competitors?
Direct peers on record are Dime Bank, Torrington Savings Bank, Chelsea Groton Bank, Fairfield County Bank, Liberty Bank, Northwest Community Bank, Salisbury Bank and Essex Savings Bank. Broad incumbents are Webster Bank and People's United Bank (now part of M&T Bank).
Does GSB have an API?
No public API is recorded for GSB.
What industry is GSB in?
GSB's product category is Community Banking. Its primary akta.pro industry code is FSABAAAA, Mass-Market Consumer Deposit Banking (Checking/Savings), with a secondary code of FSABAAAB, Retail Lending (Personal Loans, Auto, Credit Lines). Its NAICS code is 522180 and its SIC code is 6036.