Gsb

What Gsb does

Ascend Bank, formerly Guilford Savings Bank and founded in 1875, is a privately held FDIC-insured community bank headquartered at 625 Boston Post Road in Guilford, Connecticut, with additional branch presence in Madison. It serves personal and small-to-medium business customers across Connecticut and neighboring states through a horizontal two-segment approach (Personal Banking and Business Banking), and holds NMLS# 517294 for multistate mortgage activity.

The product suite spans consumer deposits (checking, savings, certificates of deposit, IRAs, HSA), consumer credit (mortgages, home equity, personal loans, reverse mortgages, and the newer Smart-E home energy improvement loans), and small-business banking (business checking, business savings, business debit, commercial real estate loans, SBA loans, lines of credit, term loans, express loans, plus treasury management and cash management). Distribution combines physical branches with a digital banking platform — mobile app, online banking, bill pay, credit monitoring, funds transfer, digital statements, and the Early Pay feature — and a telephone banking line at 844-378-7560. The bank also markets educational content via a 'Knowledge Bank' and operates Grey Ledge Advisors as a wealth management sub-brand.

The revenue model is a traditional community-bank mix: net interest income from the loan and mortgage book, transaction and service fees on deposit and cash management products, and fee income from SBA, commercial real estate, and mortgage origination. The bank sells via direct-to-consumer and direct-to-SMB motions through branches, digital channels, and appointment-based consultations with mortgage and commercial lenders, emphasizing local Connecticut decision-making as its differentiation versus regional and national competitors.

Name

Gsb

Legal name

Guilford Savings Bank

Website

https://gsb-yourbank.com

Company type

Private

Founded year

1875

Operating status

Operating

Short description

Ascend Bank (formerly Guilford Savings Bank, founded 1875) is a privately held FDIC-insured Connecticut community bank offering consumer and SMB deposit, lending, mortgage, and treasury products across branches and a digital banking platform.

Ownership category

akta.pro rank

Product category

Community Banking

NAICS

Depository Credit Intermediation (5221), Commercial Banking (522110), Savings Institutions and Other Depository Credit Intermediation (522180)

SIC

State Commercial Banks (6022), Savings Institutions, Not Federally Chartered (6036), Mortgage Bankers & Loan Correspondents (6162)

akta.pro primary industry

Retail-focused Neobanks (Mass Market) (FSABAFAA)

Keywords

• Community banking services
• Personal savings accounts
• Commercial real estate lending
• Mortgage financing services
• Small business lending

Headquarters

HQ city

Guilford

HQ country

United States

HQ region

North America

Offices2 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: Traditional banking revenue from interest earned on loans and mortgages to personal and business customers.
2. Banking Fees and Service Charges: Fees from checking accounts, savings accounts, wire transfers, and other banking services.
3. Loan Origination: Revenue from mortgage lending, commercial real estate loans, SBA loans, business loans, and personal loans.

Go-to-market motion1 record

Distribution channels4 records

Marketing channels3 records

Core offering

Ascend Bank (formerly Guilford Savings Bank) is a Connecticut community bank offering personal banking products (checking, savings, CDs, IRAs, HSA, mortgages, home equity, personal loans, reverse mortgages), business banking services (checking, savings, commercial real estate loans, SBA loans, lines of credit, term loans), and digital banking tools via a mobile app and online platform. The bank serves consumers and small-to-medium businesses across Connecticut and neighboring states through physical branches and digital channels.

Product overview

Ascend Bank (formerly Guilford Savings Bank) is a community bank offering a comprehensive suite of personal and business banking products through a unified digital banking platform. The personal banking portfolio includes deposit accounts (checking, savings, CDs, IRAs, HSA), credit products (mortgages, home equity, personal loans, reverse mortgages, Smart-E loans), and digital services (online/mobile banking, bill pay, credit monitoring, funds transfer, money management). The business banking suite encompasses deposit accounts (business checking, business savings), credit facilities (commercial real estate loans, SBA loans, lines of credit, term loans, business express loans), and cash/treasury management services. The bank also provides a mobile banking app, knowledge resources (calculators, EasySwitch Kit, fraud prevention guides), and partners with Grey Ledge Advisors for wealth management services. All products are delivered through the bank's digital banking platform with physical branch locations in Connecticut.

Differentiator

Problem solved

Functional benefit

Brands

• Grey Ledge Advisors: Wealth management and advisory services offered by the bank

Products and services

• Personal Checking Deposit and checking account products for individual consumer banking customers in Connecticut.
• Personal Savings Savings deposit accounts for individual consumer banking customers.
• Certificate of Deposit Term deposit accounts with fixed maturity for personal banking customers.
• IRAs Individual Retirement Account deposit products for retirement savings.
• Health Savings Account (HSA) Health Savings Account deposit products for individuals with high-deductible health plans.
• Mortgages Residential mortgage loans for purchasing or refinancing homes.
• Home Equity Loans Loans using home equity as collateral for personal borrowing needs.
• Personal Loans Unsecured personal loans for various consumer financial needs.
• Home Energy Improvement Loans (Smart-E Loans) Loans for financing energy-efficient home improvements.
• Reverse Mortgages Reverse mortgage products for homeowners aged 62 and older to access home equity.
• Business Checking Deposit and checking accounts designed for small and medium-sized business customers.
• Business Savings Savings deposit accounts designed for business customers.
• Commercial Real Estate Loans Loans for commercial real estate purchases, development, and investment.
• SBA Loans Small Business Administration guaranteed loans for small businesses.
• Lines of Credit Revolving credit lines for business operational and working capital needs.
• Term Loans Fixed-term business loans for various business financing needs.
• Business Express Loans Quick-turnaround business loans for qualified small business borrowers.
• Treasury Management Comprehensive treasury management services for business customers to manage cash flow and liquidity.
• Grey Ledge Advisors Wealth management and advisory services offered through a separate sub-brand entity, Grey Ledge Advisors.

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators2 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Chelsea Groton Bank: Mutual community bank in southeastern Connecticut offering personal banking, mortgages, business lending, and wealth services. Highly comparable mutual/community charter and product mix to Ascend's Connecticut-focused franchise.
• Ion Bank: Connecticut community bank serving individuals and businesses with deposit, lending, and digital banking products. Direct peer in scale, geography, and business model to Ascend Bank.
• Dime Bank: Connecticut community bank offering consumer and commercial banking products. Closely comparable community banking model, Connecticut footprint, and SMB lending focus.
• Liberty Bank: Connecticut-headquartered community bank offering personal and business banking, mortgages, and wealth management. Direct competitor to Ascend Bank within the same Connecticut market with overlapping product suite and community banking model.
• Union Savings Bank: Connecticut-based community bank offering consumer and business banking with mortgage and wealth services. Direct peer in Connecticut geography and full-service community banking orientation.
• Savings Institute Bank & Trust: Connecticut community bank providing personal banking, mortgages, and commercial lending with digital banking tools. Comparable scale, Connecticut footprint, and product mix to Ascend.
• Jewett City Savings Bank: Connecticut mutual savings bank with personal banking, mortgages, and business lending. Highly comparable mutual-style community bank operating in the same Connecticut market.

Broad incumbents

• Webster Bank: Large Connecticut-based commercial bank with full personal, business, and wealth management offerings. Significantly larger scale than Ascend but overlapping Connecticut footprint and product set make it the dominant competitive incumbent.
• Berkshire Bank: Regional community bank with New England presence (including Connecticut) offering full personal and business banking plus wealth management. Comparable product set but larger scale and broader geographic footprint than Ascend.

Emerging players

• Lakeland Bancorp: New Jersey-based community bank with commercial lending focus, SBA programs, and digital banking. Comparable community bank business model and SMB/commercial lending emphasis, though operating in a different geography.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights5 records

Customer concentration

• YouTubeyoutube.com/@ascendbank
• Facebookfacebook.com/ascendbank
• LinkedInlinkedin.com/company/ascendbank

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 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 Gsb