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Company Description (as filed with the SEC)
Lake Sunapee Bank Group (the "Company"), formerly New Hampshire Thrift Bancshares, Inc., is a Delaware holding company organized on July 5, 1989 and is the parent company of Lake Sunapee Bank, fsb (the "Bank"), a federally chartered savings association. The Bank was originally chartered by the State of New Hampshire in 1868 as the Newport Savings Bank. The Bank became a member of the Federal Deposit Insurance Corporation ("FDIC") in 1959 and a member of the Federal Home Loan Bank of Boston ("FHLBB") in 1978. On December 1, 1980, the Bank was the first bank in the United States to convert from a state-chartered mutual savings bank to a federally chartered mutual savings bank. In 1981, the Bank changed its name to "Lake Sunapee Savings Bank, fsb" and in 1994, changed its name to "Lake Sunapee Bank, fsb." The Bank's deposits are insured by the Deposit Insurance Fund of the FDIC. ... More ...