Claremont Savings Bank

What Claremont Savings Bank does

Claremont Savings Bank is a mutual savings bank founded in 1907 and headquartered in Claremont, New Hampshire, serving approximately 18,000 retail and small-business customers across 36 cities and towns in New Hampshire and Vermont. As a depositor-owned mutual institution, the bank offers a full suite of personal and commercial banking products, including checking and savings accounts (Acorn Checking, Performance Checking, Summit High Yield Savings at 3.05% APY), mortgages, home equity, auto, personal and construction loans, as well as business checking, term loans, commercial real estate loans, SBA loans, merchant services, and business credit cards.

The bank operates a hybrid physical-and-digital distribution model consisting of branch locations supported by a digital platform that includes an online banking portal, a CSB Mobile application on iOS and Android (rated 4.7 stars), bill pay, an Autobooks accounting integration for small-business customers, a Pinwheel-powered direct deposit service, and a third-party Lender Payments portal. Investment and financial advisory services are delivered through a wholly-owned subsidiary, Claremont Financial Services, providing a wealth-management revenue stream adjacent to core banking. Supporting infrastructure includes the Banzai financial literacy platform and Famzoo prepaid cards for youth banking.

Revenue is generated primarily through net interest income on the loan and deposit portfolio, supplemented by transaction-based banking fees (overdraft, wire, ATM, loan processing) and commission and fee income from investment services. Customer acquisition is community-led, relying on local branch relationships, referrals, and an estimated $300,000+ in annual community sponsorship and foundation grants across 156 nonprofit, municipal, and educational organizations, with 3,855 employee volunteer hours logged in 2025. The institution holds FDIC insurance and operates without external equity shareholders, parent company ownership, or disclosed venture or private-equity backing.

Name

Claremont Savings Bank

Legal name

Claremont Savings Bank

Website

https://claremontsavings.com

Company type

Private

Founded year

1907

Operating status

Operating

Headcount range

101–250 employees

Short description

Claremont Savings Bank is a 118-year-old mutual savings bank headquartered in Claremont, New Hampshire, offering personal and business checking, savings, lending, and investment services to approximately 18,000 customers across 36 communities in New Hampshire and Vermont.

Ownership category

akta.pro rank

Product category

Community Banking

NAICS

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

SIC

Savings Institutions, Not Federally Chartered (6036)

akta.pro primary industry

Savings Banks (Public/State-Owned) (FSABAKAK)

akta.pro secondary industries

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

Keywords

• Community banking services
• Consumer lending products
• Small business banking
• Residential mortgage lending
• Wealth management advisory

Headquarters

HQ city

Claremont

HQ country

United States

HQ region

North America

Offices1 record

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. Net Interest Income: Interest income earned from loan portfolio (mortgages, auto loans, personal loans, business loans, home equity, construction, and credit cards) minus interest paid on deposits. Primary revenue driver for the mutual savings bank.
2. Fee-Based Income: Various banking fees including checking account fees, ATM fees, wire transfer fees, overdraft fees, and loan processing fees. Also includes service charges and maintenance fees for accounts.
3. Investment Services Revenue: Commission and fee income from investment products and services offered through Claremont Financial Services, including financial planning and advisory services.

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels5 records

Core offering

Claremont Savings Bank is a mutual community savings bank offering a full range of personal and business banking products and services. Core offerings include personal checking and savings accounts, certificates of deposit, IRAs, residential mortgages, home equity, VA, construction, and auto loans, as well as consumer credit cards. For businesses, the bank provides commercial checking, savings, CDs, term loans, lines of credit, commercial real estate loans, SBA loans, merchant services, and business credit cards. Investment advisory services are delivered through the wholly owned subsidiary Claremont Financial Services.

Product overview

Claremont Savings Bank is a community bank established in 1907 serving customers in New Hampshire and Vermont. The bank operates as a traditional community bank offering a comprehensive suite of personal and business banking products. Personal banking includes multiple checking accounts (Acorn Checking, Performance Checking, Thrive Teen Spend Account), savings products (Summit High Yield Savings, Ascend High Yield Savings, Aspire Youth Savings), and diverse loan offerings (Home Mortgages, Home Equity, VA Loans, Auto Loans, Personal Loans, Consumer Credit Cards). Business banking encompasses checking (Simple Business, Corporate, Non-Profit), savings, and lending products (Term Loans, Lines of Credit, Commercial Real Estate, SBA Loans) along with business services including Merchant Services and Insured Cash Sweep. Digital services include Online/Mobile Banking, Bill Pay, and Autobooks. The bank also provides investment services through Claremont Financial Services and financial literacy resources via Banzai. With 118 years in business and over 18,000 local customers, the bank emphasizes its mutual structure and community commitment.

Differentiator

Problem solved

Functional benefit

Products and services

• Acorn Checking Personal checking account designed for everyday banking with standard features and access to online and mobile banking for individual consumers.
• Performance Checking Personal checking account with enhanced benefits and features for individual customers seeking higher value banking services.
• Thrive Teen Spend Account Checking account designed for teenagers with parental controls and financial education features.
• High Yield Money Market Personal money market account offering competitive yields with FDIC insurance protection for individual savers.
• Health Savings Account (HSA) Tax-advantaged account for healthcare expenses paired with high-deductible health plans for individual accountholders.
• Summit High Yield Savings High-yield savings account offering 3.05% APY with Fed-Linked features and no monthly fees for personal banking customers.
• Ascend High Yield Savings Savings account with competitive interest rates for personal banking customers.
• Aspire Youth Savings Savings account designed for young savers to build financial habits early.
• Certificate of Deposit (CD) Time deposit account with fixed terms and competitive rates for personal savings.
• Individual Retirement Accounts (IRAs) Tax-advantaged retirement savings accounts including Traditional and Roth IRA options for individual retirement planning.
• Home Mortgage Loans Residential mortgage financing for purchasing or refinancing homes in New Hampshire and Vermont for individual borrowers.
• Home Equity Loans Loans leveraging home equity for major expenses, renovations, or debt consolidation for homeowners.
• VA Loans Government-backed mortgage loans for eligible veterans and their families.
• Construction Loans Financing for building new homes or major construction projects for individual borrowers.
• Auto Loans Vehicle financing for new and used automobiles with competitive rates for individual borrowers.
• Personal Term Loans Installment loans for personal expenses with fixed repayment terms for individual borrowers.
• Consumer Credit Cards Personal credit card products for everyday purchases and revolving credit for individual consumers.
• Home Improver Loan Home improvement financing offering 8.25% APR with loans up to $15,000 and no processing fee for individual borrowers.
• Simple Business Checking Basic business checking account for small businesses with essential banking features.
• Corporate Checking Commercial checking account for larger businesses with advanced cash management needs.
• Non-Profit Checking Specialized checking account for non-profit organizations and charities.
• Business High Yield Money Market Business money market account with competitive yields and liquidity for business customers.
• Business Savings Savings account for business owners to deposit and grow business funds.
• Business Certificate of Deposit (CD) Business time deposit with fixed terms for business savings.
• Business Term Loans Fixed-term financing for business equipment, expansion, or operational needs for business customers.
• Business Lines of Credit Revolving credit facility for businesses to manage cash flow fluctuations.
• Commercial Real Estate Loans Financing for commercial property acquisition, development, or renovation for business customers.
• Small Business (SBA) Loans SBA-backed loans for small business growth and expansion.
• Merchant Services Payment processing services for businesses to accept credit and debit card transactions.
• Insured Cash Sweep Deposit placement service providing FDIC insurance coverage beyond standard limits for business deposits.
• Business Credit Cards Credit card products tailored for business spending and expense management.
• Investment Services Wealth management and investment advisory services delivered through the wholly owned subsidiary Claremont Financial Services for personal and business customers.
• Famzoo Prepaid Cards Prepaid card services for family financial management and teen spending oversight.

Quantifiable outcome

• 18,000+ customers served
• +3 more outcomes

Named customers4 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

Feature3 records

Partnerships

One partnership is on record.

• Turning Points NetworkcoreOthersTurning Points Network is a nonprofit organization serving domestic violence survivors. Claremont Savings Bank provides financial contributions, donations, and sponsorship support enabling TPN to provide direct services and critical support to hundreds of survivors and their families. This partnership exemplifies the bank's community commitment and mutual structure values.

Scale indicators6 records

Recent moves5 records

Expansion highlights5 records

Broad incumbents

• TD Bank (US): A major regional bank with extensive New England branch coverage including NH and VT. Overlaps with CSB on consumer deposits, mortgages, and small business banking, and is a key competitive incumbent.
• Citizens Bank: A large regional bank with meaningful New Hampshire and Vermont retail branch presence. Competes directly with CSB for consumer deposits, mortgages, and small business banking in shared NH/VT markets.

Direct peers

• Northfield Savings Bank: A Vermont-based mutual savings bank serving individuals and businesses. Comparable in mutual structure, two-state NH/VT market overlap, and full-service community banking model.
• Sugar River Bank: A community bank serving the Sullivan/Merrimack County region of New Hampshire. Comparable in size, mutual-like community orientation, and personal/business banking product set overlapping with Claremont Savings Bank.
• Mascoma Bank: A New Hampshire-based mutual savings bank serving individuals and businesses across NH and VT. Closely comparable to Claremont Savings Bank in mutual structure, regional NH/VT footprint, and full-service personal and business banking offering.
• Piscataqua Savings Bank: A Seacoast New Hampshire mutual savings bank serving individuals and small businesses. Comparable in mutual charter, deposit-and-lending product set, and community-banking ethos.
• Lake Sunapee Bank: A New Hampshire mutual savings bank providing personal, business, and wealth management services across NH and VT. Comparable product mix, mutual structure, and New England community-banking orientation.
• Bath Savings Institution: A Maine-based mutual savings institution serving consumers and small businesses. Comparable in mutual charter, full-service community banking model, and deposit-funded lending approach.
• Merrimack County Savings Bank (The Merrimack): A New Hampshire mutual savings bank offering consumer and commercial banking products. Comparable in mutual structure, NH footprint, and focus on local relationship-based banking.

Regional players

• Bar Harbor Bank & Trust: A New England regional bank with branches across Maine and northern New England. Comparable personal and business banking product set, though operates on a stock charter and broader geographic footprint.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/claremontsavingsbank
• LinkedInlinkedin.com/company/1733987
• Instagraminstagram.com/claremontsavingsbank

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

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 Claremont Savings Bank