Savings Bank Of Walpole

What Savings Bank Of Walpole does

Savings Bank of Walpole (SBW) is a state-chartered mutual savings bank founded in 1875 and headquartered in Walpole, New Hampshire, with operations centered on the Monadnock Region of southwestern New Hampshire, southeastern Vermont, and northern Massachusetts. It operates seven full-service branches — three in Keene, two in Walpole, one in Rindge, and one in Winchester — each with 24-hour ATMs and supplemented by an additional ATM at Cheshire Medical Center, online and mobile banking, Zelle for person-to-peer payments, and Apple Pay/mobile wallet support. SBW offers a complete retail banking product set (Truly Free Checking, Senior Checking, Bank On Checking, savings, money market, CDs, IRAs, HSAs), residential and commercial lending (purchase mortgages, refinancing, construction, ADU, vacation home, home equity, HELOCs, auto, recreational vehicle, home improvement, solar, collateral, and SBA-backed Business Express Lending), and treasury/cash management for businesses (ACH, merchant services, remote deposit, positive pay, sweep accounts). Technology stacks are standard community-bank SaaS integrations (TCM Bank for credit cards, Bank On partnership, Banzai for financial education, Granite Edvance for student lending) without proprietary AI/ML components; no public-facing developer API exists.

The bank's revenue model is standard for a deposit-funded community bank. Primary income derives from interest income on the loan portfolio — $106M of new loans were originated in 2025 ($42M commercial, $48M residential mortgage, balance consumer/personal) yielding net interest margin against an $850M asset base. Secondary income streams include checking account and overdraft line fees, deposit/service fees (wires, safe deposit boxes, cashier's checks, money orders, foreign currency exchange), and business banking fees (cash management, merchant services, remote deposit). Pricing philosophy emphasizes customer value (no monthly service charges on most personal accounts, no minimum balance on Truly Free Checking) — feasible because mutual ownership eliminates shareholder dividend pressure. Distribution is anchored by physical branches with Saturday hours and 24/7 TellerPhone, plus online account opening, mobile banking, and reciprocal surcharge-free access through affiliated sister banks Merrimack County Savings Bank and Meredith Village Savings Bank under the New Hampshire Mutual Bancorp (NHMB) umbrella, effective since 2018.

Customer segments are split across individual/personal banking (primary), business banking (primary), nonprofit organizations, and two persona-driven segments — first-time homebuyers and seniors aged 62+. Marketing relies on community events (Concerts on the Green, Good Deeds initiative), nonprofit partnerships, customer testimonials, social media, and PR (notably the 2025 City of Keene 'Savings Bank of Walpole Day' proclamation) rather than mass digital advertising. SBW serves a board-segmented local economy: agriculture, food and beverage, construction, healthcare/veterinary, retail, fuel, entertainment/recreation, and nonprofits — with named customer logos spanning decades of tenure. The bank has no subsidiaries, no public ticker, no equity investors, and no traditional funding rounds (all capital is retained earnings and deposits); it is part of the NHMB mutual holding company.

Name

Savings Bank Of Walpole

Legal name

Savings Bank of Walpole

Website

https://walpolebank.com

Company type

Private

Founded year

1875

Operating status

Operating

Headcount range

51–100 employees

Short description

Savings Bank of Walpole is a mutual savings bank founded in 1875, operating seven branches across New Hampshire's Monadnock Region to serve individuals, small-to-medium businesses, and nonprofit organizations with checking, mortgages, consumer lending, and cash management products.

Ownership category

akta.pro rank

Product category

Community Banking

NAICS

Savings Institutions and Other Depository Credit Intermediation (522180), Savings Institutions and Other Depository Credit Intermediation (52218), Commercial Banking (522110)

SIC

State Commercial Banks (6022), 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
• Mortgage lending products
• Small business lending
• Retail savings accounts
• Consumer loan products

Headquarters

HQ city

Keene

HQ country

United States

HQ region

North America

Offices10 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Interest Income from Loans: Primary revenue source from mortgage lending (residential purchases, refinances, construction loans, home equity), personal loans (auto, recreational vehicles, home improvement, solar), and commercial/business loans (real estate, equipment, lines of credit, express lending). Interest rates vary by product type and creditworthiness.
2. Checking Account Fees: Fee income from certain checking account services including overdraft protection lines of credit, with some accounts offering free checking with no monthly service charges.
3. Deposit and Service Fees: Fees for services including wire transfers, safe deposit boxes, cashier's checks, money orders, foreign currency exchange, and official checks. Some services offered free to customers.
4. Business Banking Services: Cash management services including ACH payments and collections, merchant services for credit card processing, remote deposit, and sweep accounts for commercial checking.

Pricing tiers

Go-to-market motion2 records

Distribution channels7 records

Marketing channels7 records

Core offering

Savings Bank of Walpole is a state-chartered mutual savings bank providing deposit products (checking, savings, CDs, IRAs, HSAs), residential and commercial mortgage lending, personal loans (auto, recreational, home improvement, solar), and commercial lending through seven full-service branches in the Monadnock Region of New Hampshire plus online and mobile banking channels. As a mutual institution, it is owned by its depositors and reinvests earnings into local lending and community initiatives.

Product overview

Savings Bank of Walpole is a mutual savings bank serving the Monadnock Region of New Hampshire since 1875. The bank offers a comprehensive suite of banking products through seven branch locations and digital channels. Personal banking includes Truly Free Checking, Senior Checking, Non-Interest Checking, and Bank On Checking accounts, along with savings accounts, CDs, IRAs, and HSAs. Mortgage products encompass home purchase loans, refinancing, construction loans, ADU loans, vacation home loans, and home equity products (HELOANs and HELOCs). Personal lending covers auto loans, recreational vehicles, home improvement, solar programs, and collateral loans. Business banking features Simple Business Checking, Flex Business Checking, Nonprofit Advantage Checking, business savings and money market accounts, CDs, commercial real estate loans, construction loans, term loans, lines of credit, and Business Express Lending. Cash management services include online/mobile banking, bill pay, ACH payments, remote deposit, positive pay fraud protection, wire transfers, merchant services, and sweep accounts. Additional services include instant-issue debit cards, credit cards (via TCM Bank), safe deposit boxes, wire transfers, foreign currency exchange, and overdraft protection options. The bank is affiliated with NH Mutual Bancorp and partners with organizations including NHTrust, Zelle, Bank On, TCM Bank, and Granite Edvance.

Differentiator

Problem solved

Functional benefit

Products and services

• Truly Free Checking Personal checking account with no monthly service charge and no minimum balance requirement; earns interest on balances over $100. Most popular checking account offered by the bank.
• Senior Checking Checking account for customers over 62 with complimentary standard checks or 50% off other check styles ordered through the bank; no minimum balance and no monthly service charge; earns interest on balances over $100.
• Non-Interest Checking Basic personal checking account with no minimum balance requirement and no monthly service charge.
• Bank On Checking Affordable checking account offered in partnership with Bank On for individuals starting their financial journey or seeking a second-chance account; $10 minimum opening deposit, no monthly service charge, and waiver of overdraft and returned item fees.
• Savings Accounts Personal savings products including Tiered Savings, Easy Access Savings, Youth Savings, Be Your Own Lender, and Goal Setter Savings/GOALS for various financial goals.
• Certificates of Deposit (CDs) Certificates of Deposit with maturities from three months to five years offering competitive interest rates and personalized service for personal savers.
• Individual Retirement Accounts (IRAs) Tax-advantaged retirement savings accounts with various CD terms available.
• Health Savings Accounts (HSAs) Tax-advantaged Health Savings Accounts for individuals and families with high-deductible health plans; interest-bearing checking paying qualified medical expenses via debit card, check, or online bill pay; unused funds carry over year to year.
• Mortgage Lending Comprehensive mortgage lending services including home purchase loans, refinancing, construction loans, vacation home loans, ADU loans, and home equity products with competitive rates and local underwriting decisions.
• Home Purchase Loans Fixed-rate loans, adjustable-rate mortgages (ARMs), land loans, and manufactured home loans for purchasing primary residences.
• Construction Loans Single-closing construction loans for building new homes in NH or VT; interest-only payments during construction phase that then convert to traditional principal-and-interest loans.
• Home Equity Loans Fixed-rate home equity loans providing lump-sum financing for major expenses such as home remodeling or roof repairs with budget-friendly monthly payments.
• Home Equity Lines of Credit (HELOCs) Revolving credit lines allowing homeowners to access built-up equity by writing checks for unexpected expenses or large purchases.
• Personal Loans Flexible personal loans for various needs including auto loans, recreational vehicles, motorcycles, boats, home improvement, personal unsecured loans, and solar loans with competitive rates and local decisions.
• Solar Program Loans Solar energy loans from $5,000 to $40,000 with terms up to 180 months and competitive rates for installing residential solar energy systems; minimum credit score 725.
• Simple Business Checking Business checking with no balance requirement, no per-item fees for cash/coin deposits or checks, free first order of business checks, and a free Business Debit Mastercard.
• Flex Business Checking Business checking with flexible services and a monthly Earnings Credit that can offset the $10 monthly service charge; includes a free Business Debit Mastercard.
• Nonprofit Advantage Checking Interest-bearing checking account designed for nonprofit organizations with no monthly fees and no minimum balance requirement.
• Business Savings Straightforward business savings option with a low minimum balance to earn interest, providing liquid and safe savings for businesses.
• Business Money Market Accounts Business savings accounts with check-writing privileges and tiered interest rates based on balance amounts.
• Business Certificates of Deposit Business CDs with maturities from three months to five years offering competitive rates for corporate treasury management.
• Commercial Real Estate Loans Loans for purchasing land or buildings ranging from multi-unit residential properties to manufacturing and retail spaces with flexible terms.
• Commercial Term Loans Financing for fixed assets like equipment and vehicles, business acquisitions, or expansion with flexible term options for business customers.
• Commercial Lines of Credit Flexible purchasing power revolving lines of credit to help businesses manage cash flow, outfit operations, or invest in new equipment.
• Business Express Lending Fast online business financing from $10,000 to $100,000 for qualifying New Hampshire businesses, including SBA loans, with quick decisions on term loans and lines of credit and no bank visit required.
• Cash Management Services Suite of financial products for businesses including online and mobile banking, bill pay, ACH payments and collections, remote deposit, positive pay fraud protection, wire transfers, merchant services, and sweep accounts.
• Instant Issue Debit Mastercard Debit Mastercard instantly printed onsite at any branch location, replaceable if lost, damaged, or stolen, with settings managed through online banking.
• Safe Deposit Boxes Secure storage for valuables available at North Meadow Plaza, Westminster Street, and Marlboro Street branches in various sizes, with $5 savings when paid from an SBW account.
• Wire Transfers Domestic and international wire transfer services submitted with help of Universal Bankers at any of seven branch locations.
• Foreign Currency Exchange Foreign currency exchange services for Canadian dollars, Euros, and Pounds available at branch locations.

Quantifiable outcome

• Supports 200 local organizations, initiatives, and events annually
• +3 more outcomes

Named customers11 records

Segments5 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration9 records

Partnerships

Ten partnerships are on record, tiered core, major and minor.

• NHTrustcoreStrategic or Co-development PartnerPartnership with NHTrust brand to provide localized trust and wealth management products and services. SBW Wealth Management became NHTrust in 2019.
• Merrimack County Savings BankmajorChannel Partner/ Reseller/ DistributorSister bank and courtesy branch network partner. SBW customers can deposit, withdraw, make loan payments, and use ATMs surcharge-free at all Merrimack County Savings Bank locations (Bow, Concord, Contoocook, Henniker, Hooksett, Nashua, Windham, NH).
• Meredith Village Savings BankmajorChannel Partner/ Reseller/ DistributorSister bank and courtesy branch network partner. SBW customers can deposit, withdraw, make loan payments, and use ATMs surcharge-free at all 15+ Meredith Village Savings Bank locations across New Hampshire.
• TCM BankminorStrategic or Co-development PartnerPartnership for credit card issuance. SBW offers TCM Bank credit cards to meet everyday needs of personal and business customers.
• Bank OnminorStrategic or Co-development PartnerPartnership to offer Bank On Checking - a secure and affordable banking solution for those starting their financial journey or needing a second chance. Features include $10 minimum opening deposit and waiver of overdraft fees.
• New Hampshire Housing Finance Authority (NHHFA)minorStrategic or Co-development PartnerPartner for first-time homebuyer programs including NHHFA loans and down payment assistance programs for qualifying borrowers.
• Federal Housing Administration (FHA)coreOthersOffers FHA mortgage loans as part of buying assistance programs - government backed loans requiring 3% down payment with competitive rates.
• Veterans Affairs (VA)coreOthersOffers VA home loans as part of buying assistance programs - may qualify for no down payment with competitive rates for eligible veterans.
• USDA Rural DevelopmentminorOthersOffers USDA Rural Development loans as part of buying assistance programs for homes in eligible rural areas.
• Granite EdvanceminorStrategic or Co-development PartnerPartnership for student loan program offering education financing options through Granite Edvance for SBW customers.

Scale indicators10 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• Merrimack County Savings Bank: Sister bank under NH Mutual Bancorp with a comparable community-mutual model, branch network in central NH (Bow, Concord, Hooksett, Nashua, etc.), and similar deposit, mortgage, and small-business lending products — making it the closest operational and structural peer to SBW.
• Meredith Village Savings Bank: Third NHMB-affiliated mutual savings bank serving central and Lakes Region NH with 15+ branches, overlapping product suite (checking, savings, mortgage, business banking), and shared back-office via NH Mutual Bancorp — directly comparable on business model, mutual ownership, and community-bank positioning.
• Mascoma Bank: NH-based mutual savings bank serving the Upper Valley region with community banking, mortgage, and commercial lending products; comparable asset scale, mutual governance, and community-bank GTM approach to SBW, though operating in a different NH geography.
• Lake Sunapee Bank: New Hampshire community bank (part of the Bar Harbor Bank & Trust / Bar Harbor Bankshares family) offering consumer and business banking, mortgages, and wealth services in central/western NH — direct product and customer-segment overlap with SBW within the same state.
• Sugar River Bank: Community bank serving the Sullivan/Merrimack County NH region with consumer, mortgage, and small-business banking — overlapping target customers, product mix, and community-bank distribution model, though smaller in branch count.
• Northfield Savings Bank: Vermont-based community savings bank with a similar consumer/small-business/mortgage product set; relevant as a New England regional mutual-style savings institution with overlapping rural geography into SBW's secondary VT footprint.
• Passumpsic Savings Bank: Vermont-headquartered community savings bank offering consumer, mortgage, and commercial banking in northern/central VT — comparable mutual/community positioning and product mix, and a logical regional peer given SBW's stated VT service area.
• Connecticut River Bank / Claremont Savings Bank: NH mutual savings bank serving the western NH/Connecticut River Valley with consumer and small-business banking — overlapping geography, mutual structure, and community-bank GTM with SBW in adjacent southwestern NH markets.

Broad incumbents

• TD Bank (NH branches): Large national commercial bank with a meaningful NH retail branch presence (including Keene); competes with SBW for consumer deposits, mortgages, and small-business banking in the Monadnock Region, but operates a much broader portfolio and broader geographic footprint.
• Service Credit Union: Large NH-based credit union offering consumer, mortgage, and small-business products with a broad statewide footprint; competes for SBW's core retail and SMB customers on rates and digital experience, though organized as a credit union rather than a mutual savings bank.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/savingsbankofwalpole
• LinkedInlinkedin.com/company/savings-bank-of-walpole
• Instagraminstagram.com/savingsbankofwalpole
• Xx.com/walpolebank

Compliance10 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 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 Savings Bank Of Walpole