Passumpsic Bank

What Passumpsic Bank does

Passumpsic Bank (legal name Passumpsic Savings Bank) is a mutual community savings bank founded in 1853 and headquartered in St. Johnsbury, Vermont, operating as a subsidiary of mutual holding company Passumpsic Bancorp. The bank serves individual consumers, small to medium businesses, municipal governments, and nonprofit organizations across Vermont and New Hampshire through eleven physical branch locations, a Williston loan production office, and the Passumpsic Connect digital banking platform. It holds SBA Preferred Lender status, FDIC insurance, NMLS #463952 registration, Equal Housing Lender designation, and is subject to Community Reinvestment Act compliance, anchoring its position as a regulated, deposit-funded community lender.

The bank offers a full suite of consumer and commercial financial products, including checking accounts (Kasasa Cash, Kasasa Cash Back, Kasasa Tunes, Senior Free Checking), savings accounts (Statement Savings, Money Market, HSA, Youth Statement Savings, Savers Club, Kasasa Saver), certificates of deposit, Roth and Traditional IRAs, personal loans, fixed-rate and adjustable-rate mortgages, first-time homebuyer programs, home equity loans and lines of credit, business deposit accounts (Business Checking, Small Business Checking, Business NOW, Municipal NOW, Non-Profit Checking, Non-Profit Plus Checking), commercial equipment loans, business money market accounts and CDs, SEP IRAs, and merchant services. Trust, investment, and retirement services are delivered through wholly owned subsidiary Passumpsic Financial Advisors (PFA), operating with Osaic Institutions as registered broker-dealer, while residential mortgage origination is conducted via wholly owned subsidiary Northeast Home Loan, LLC. Digital channels include iOS and Android mobile apps, online banking with bill pay and mobile deposit, digital account opening via a third-party platform, and the integrated SavvyMoney credit monitoring tool.

Revenue is generated primarily through net interest income on loans (mortgages, home equity, commercial equipment loans, business loans) and investment securities, supplemented by deposit account fees and service charges, merchant services revenue, and investment advisory and trust fees from PFA. Distribution relies on relationship-based community banking through local branches staffed by named branch managers, complemented by digital self-serve channels for account opening and day-to-day banking. Go-to-market is sales-led and locally executed, with lending decisions made in-market to reflect local property values, seasonal income patterns, and agricultural lending needs — a positioning that differentiates the bank from national competitors in the rural Vermont and New Hampshire communities it serves.

Name

Passumpsic Bank

Legal name

Passumpsic Savings Bank

Website

https://passumpsicbank.com

Company type

Private

Founded year

1853

Operating status

Operating

Headcount range

51–100 employees

Short description

Passumpsic Bank is a 173-year-old mutual community savings bank serving individuals, small businesses, municipalities, and nonprofits across Vermont and New Hampshire through 11 branches, a loan production office, and the Passumpsic Connect digital banking platform.

Ownership category

akta.pro rank

Product category

Community Banking

NAICS

Savings Institutions and Other Depository Credit Intermediation (52218), Savings Institutions and Other Depository Credit Intermediation (522180), Depository Credit Intermediation (5221)

SIC

Savings Institutions, Not Federally Chartered (6036)

akta.pro primary industry

Mutual Savings Banks & Mutual Thrifts (FSABAEAD)

akta.pro secondary industry

Mass-Market Consumer Deposit Banking (Checking/Savings) (FSABAAAA)

Keywords

• Community banking services
• Retail banking services
• Commercial lending
• Mortgage lending
• Wealth management

Headquarters

HQ city

Saint Johnsbury

HQ country

United States

HQ region

North America

Offices12 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Interest Income - Lending: Primary revenue from interest earned on loans including mortgages, home equity loans/lines, commercial equipment loans, and business loans.
2. Interest Income - Investment Securities: Income from investment portfolio managed by Passumpsic Financial Advisors.
3. Deposit Account Fees and Service Charges: Fees from deposit account services including checking accounts, savings accounts, and CDs. Bank emphasizes competitive rates without monthly maintenance fees common at national banks.
4. Investment Services Revenue: Trust and investment management services through Passumpsic Financial Advisors (PFA), offered with Osaic Institutions as registered broker-dealer. Includes financial planning, portfolio management, and retirement account services.
5. Merchant Services: Payment processing and merchant services for business customers.

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels5 records

Core offering

Passumpsic Bank is a mutual savings community bank offering a full suite of personal and business banking products including checking, savings, CDs, IRAs, mortgages, home equity loans, commercial loans, and merchant services. The bank serves customers through 11 physical branches across Vermont and New Hampshire and a digital banking platform called Passumpsic Connect with mobile deposit and SavvyMoney credit monitoring. Investment and trust services are provided through its subsidiary Passumpsic Financial Advisors.

Product overview

Passumpsic Bank is a community bank offering a comprehensive suite of financial products and services through both physical branches and digital channels. The core digital platform, Passumpsic Connect, provides online and mobile banking with integrated credit monitoring through SavvyMoney. The bank's product portfolio spans personal banking (checking, savings, CDs, IRAs), business banking (deposit accounts, loans, merchant services), mortgages and home equity products, and investment services through Passumpsic Financial Advisors. With 11 branches across Vermont and New Hampshire and a lending office, the bank combines traditional community banking with modern digital tools including mobile apps for iOS and Android.

Differentiator

Problem solved

Functional benefit

Products and services

• Kasasa Cash Checking
• Kasasa Cash Back Checking
• Kasasa Tunes Checking
• Senior Free Checking
• Kasasa Saver
• Statement Savings
• Money Market Savings
• Health Savings Account
• Youth Statement Savings
• Savers Club
• Fixed-Rate CDs
• Youth CDs
• Roth IRA
• Traditional IRA
• Business Checking
• Small Business Checking
• Business NOW Account
• Municipal NOW
• Non-Profit Checking
• Non-Profit Plus Checking
• Business Money Market Account
• Business CD
• SEP IRAs
• Commercial Equipment Loans
• Fixed Rate Mortgages
• Adjustable Rate Mortgages
• First-Time Homebuyer Programs
• Home Equity Lines of Credit
• Fixed-Rate Home Equity Loans
• Personal Loans
• Merchant Services
• Passumpsic Connect Digital Banking Platform
• Passumpsic Financial Advisors (PFA)
• Passumpsic Bank Mobile App

Quantifiable outcome

• SBA Preferred Lender designation indicates streamlined and positive small business lending experience

Named customers1 record

Segments3 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

Feature2 records

Scale indicators4 records

Recent moves7 records

Expansion highlights6 records

Regional players

• Northeast Bank: Maine-based community bank with retail banking and loan origination offices in northern New England, serving rural markets similar to Passumpsic though operating primarily in a different state.

Direct peers

• Northfield Savings Bank: Vermont-based mutual savings bank serving central and northern Vermont communities with retail deposits, mortgages, and commercial lending—directly comparable to Passumpsic's mutual structure and rural New England footprint.
• Mascoma Bank: Mutual savings bank operating across New Hampshire and Vermont with comparable community banking model, SBA lending focus, and full personal/business deposit and lending services similar to Passumpsic.
• Union Bank: Vermont community bank operating multiple branches across central and northern Vermont with consumer and commercial deposit, lending, and digital banking offerings parallel to Passumpsic's product suite.
• Community National Bank: Vermont community bank providing deposit, mortgage, and commercial lending products to individuals and small businesses across similar Northeast Kingdom and central VT markets served by Passumpsic.
• Claremont Savings Bank: New Hampshire mutual savings bank serving western New Hampshire communities with deposit accounts, mortgages, and business banking—highly comparable in mutual charter structure and community bank approach.
• Savings Bank of Walpole: New Hampshire mutual savings bank serving southwestern New Hampshire communities with a focus on personal banking and small business lending, mirroring Passumpsic's mutual/community orientation.
• Ledyard Financial Group: New Hampshire community bank holding company offering personal and business banking, mortgages, and wealth management with a comparable relationship-driven community banking model in the Upper Valley region.

Broad incumbents

• Bar Harbor Bankshares: Public bank holding company operating community banks across northern New England (Maine and New Hampshire), offering broader deposit, lending, and wealth management services that overlap with Passumpsic's footprint but at much larger scale.

Others

• Osaic Institutions: Registered broker-dealer providing custody, clearing, and advisory infrastructure that supports Passumpsic Financial Advisors' investment services—comparable as an ecosystem enabler rather than a direct competitor.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/PassumpsicBank
• Xx.com/passumpsicb

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles17 records

Subsidiaries2 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 Passumpsic Bank