Jewett City Savings Bank

What Jewett City Savings Bank does

Jewett City Savings Bank is a mutual savings bank founded in 1873 and headquartered at 111 Main Street, Jewett City, Connecticut. Operating as a state-chartered, FDIC-insured institution owned by its depositors rather than external shareholders, the bank serves individuals, families, small-to-medium-sized businesses, and non-profit organizations across northeastern Connecticut and Washington County, Rhode Island through seven full-service branches, with an eighth branch under construction in Mansfield. Its product portfolio spans personal and business deposit accounts (checking, savings, money market, CDs/IRAs), consumer and mortgage lending (fixed-rate, ARM, FHA, VA, USDA, construction, home equity, and HELOC products), commercial banking (term loans, SBA 504/7A, commercial real estate, lines of credit, cash management with ZBA and sweep accounts), and investment services offered through a partnership with Osaic Institutions, Inc.

The bank's technology infrastructure consists of standard community-bank platforms: an online banking system (myvirtualbranch.com), iOS and Android mobile banking applications with mobile deposit capture, ATM network with envelope-free deposits at select locations, and accounting integrations with QuickBooks and Quicken via Web Connect and Direct Connect. Distribution is primarily branch-based with supplementary digital, telephone, and ATM channels. The bank reports approximately 150 staff including a detailed leadership team of senior officers, branch managers, mortgage originators, and a board of directors, with no AI/ML or proprietary technology platforms disclosed.

Revenue is generated primarily through net interest income on the loan portfolio (mortgages, commercial loans, consumer loans) funded by deposit-taking, supplemented by transactional fees (account maintenance, ATM, wire transfers, overdraft, cashier's checks), and referral/licensing income from the Osaic Institutions investment services partnership. In FY2025, the bank reported record results with total assets of $484 million (a 9% increase year-over-year), net income exceeding $5 million (a 17% increase year-over-year), and a loan-to-deposit ratio of 99.32%, reflecting aggressive deployment of deposits into earning assets. The bank's go-to-market is relationship-led community banking, emphasizing personal service, local loan decision-making, and civic involvement, with marketing conducted through its website, Facebook/Instagram presence, community event sponsorships, financial literacy programs, and earned media coverage.

Name

Jewett City Savings Bank

Legal name

Jewett City Savings Bank

Website

https://jcsbank.com

Company type

Private

Founded year

1873

Operating status

Operating

Headcount range

101–250 employees

Short description

Jewett City Savings Bank is a mutual savings bank founded in 1873 providing personal and business banking, mortgages, and commercial lending to individuals, families, SMBs, and non-profits across seven branches in northeastern Connecticut and Rhode Island.

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

Mutual Savings Banks & Mutual Thrifts (FSABAEAD)

akta.pro secondary industries

Mass-Market Consumer Deposit Banking (Checking/Savings) (FSABAAAA), SME Deposits & Business Accounts (Operating, Savings, CDs) (FSABABAC)

Keywords

• Community banking services
• Personal deposit accounts
• Mortgage lending
• Commercial banking
• Cash management solutions

Headquarters

HQ city

Jewett City

HQ country

United States

HQ region

North America

Offices8 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Interest Income: Primary revenue from interest earned on loan portfolio including mortgages, commercial loans, and consumer loans
2. Deposit Taking: Accepting deposits from individuals and businesses with interest paid on savings and checking accounts
3. Fee-based Services: Various banking fees including account maintenance, ATM withdrawals, wire transfers, overdraft fees, notary services, and safe deposit boxes
4. Investment Services: Investment products and services offered through Osaic Institutions, Inc.

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels5 records

Core offering

Jewett City Savings Bank is a mutual savings bank that accepts deposits and originates loans for individuals, families, small-to-medium businesses, and non-profit organizations across northeastern Connecticut and Rhode Island. The bank sells personal and business checking accounts, savings, money market accounts, certificates of deposit, IRAs, mortgage loans, home equity products, commercial loans, SBA loans, cash management services, and investment products delivered through Osaic Institutions. Service is delivered through seven branch locations plus online and mobile banking channels.

Product overview

Jewett City Savings Bank operates as a mutual savings bank offering a comprehensive suite of banking products and services through a branch network of seven full-service locations in Connecticut and Rhode Island. The bank's product portfolio centers on personal and business deposit accounts (checking, savings, money market, and CDs/IRAs), consumer and mortgage lending (including home mortgages, home equity products, and construction loans), and commercial banking services (business checking, cash management, and commercial real estate lending). The bank also provides investment services through Osaic Institutions, operates a mobile banking app for iOS and Android, and maintains an online banking platform with QuickBooks/Quicken connectivity. The Jewett City Savings Bank Foundation supports community organizations through grants.

Differentiator

Problem solved

Functional benefit

Brands

• ACCESS Banking: Banking program designed to help customers manage money and build credit with confidence.

Products and services

• Personal Checking
• CDs and IRAs
• Personal Savings
• Health Savings Accounts
• Student Accounts
• Online Banking
• Mobile Banking
• Debit Card
• Access Banking
• Mortgages and Home Financing
• First-Time Homebuyer Program
• Home Equity Loans and Lines of Credit
• VA Loans
• Land and Construction Loans
• Business Checking and Savings
• Commercial Checking
• Non-Profit Accounts
• Business Online Banking
• Cash Management
• Business Debit Card
• Credit Card Processing
• Business Loans and Lines
• Commercial Real Estate Lending
• SBA Loans
• Investment Services

Quantifiable outcome

• Total assets of $484 million, a 9% increase year-over-year
• +2 more outcomes

Named customers5 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

Feature2 records

Partnerships

One partnership is on record.

• Osaic Institutions, Inc.coreGTM or Marketing PartnerInvestment services provided through Osaic Institutions, Inc. Located at Jewett City Savings Bank branch. This partnership enables the bank to offer investment and insurance products to customers through a third-party provider.

Scale indicators7 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Chelsea Groton Bank: Chelsea Groton Bank is a Connecticut-based mutual savings bank headquartered in Groton with a community banking model and mutual ownership structure very similar to Jewett City Savings Bank. It competes directly for deposits, mortgages, and small business relationships across eastern Connecticut.
• Essex Savings Bank: Essex Savings Bank is a Connecticut-chartered mutual savings bank serving the lower Connecticut River Valley. It mirrors Jewett City Savings Bank's mutual ownership, community reinvestment emphasis, and full personal/business deposit and lending product set.
• Liberty Bank: Liberty Bank is Connecticut's largest community bank, organized as a mutual holding company in Middletown, CT. It competes across the same personal, business, and mortgage segments and serves many of the same Connecticut communities as Jewett City Savings Bank.
• NBT Bank: NBT Bank is a community-focused regional bank headquartered in upstate New York with a growing New England presence following its acquisition of Salisbury Bank. Its community banking model, product mix, and relationship-driven approach closely parallel Jewett City Savings Bank.
• Brookline Bank: Brookline Bank is a Massachusetts-based mutual savings bank serving consumers, businesses, and nonprofits. Its mutual ownership and relationship-driven community banking model make it a strong structural and operational comparable to Jewett City Savings Bank.
• Cambridge Savings Bank: Cambridge Savings Bank is a Massachusetts-based mutual savings bank serving consumers, businesses, and nonprofits across Greater Boston. Its mutual ownership structure, community focus, and personal/business banking mix make it a direct structural comparable to Jewett City Savings Bank.

Broad incumbents

• Berkshire Bank: Berkshire Bank is a regional bank operating throughout New England and New York, including Connecticut branches. It offers a broader product set than Jewett City Savings Bank at significantly greater scale, serving as a larger incumbent competitor.
• Webster Bank: Webster Bank is a large Connecticut-headquartered commercial bank with extensive in-state branch coverage. It competes for the same consumer and small business customers as Jewett City Savings Bank, but at materially greater scale and product breadth.
• TD Bank: TD Bank operates one of the largest branch and ATM networks in Connecticut and targets the same retail, small business, and lending customers as Jewett City Savings Bank. As a national incumbent, it competes primarily on convenience, hours, and digital capability.
• Rockland Trust: Rockland Trust is a community-focused regional bank serving eastern Massachusetts and southern New Hampshire with a comparable product suite. It is a relevant broader New England community banking peer at greater scale than Jewett City Savings Bank.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/jcsbank
• Instagraminstagram.com/jcsbank
• LinkedInlinkedin.com/company/jewett-city-savings-bank

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Subsidiaries1 record

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 Jewett City Savings Bank