About Us

We are proud to be an independent, local bank with a strong financial foundation, a tradition of exceptional service, and a legacy of community involvement and support.

 

Bank News

WSB in the News

Horn Pond Plaza Renovation is Complete

Clay Soper Memorial Fund presents "If They Had Known" at Woburn Memorial High School

Deborah A. Carson, CPA Elected Chairman of Board of Winchester Savings Bank

Wayne Panniello Joins Winchester Savings Bank as Mortgage Executive

Bank History

Bank History

The Winchester Savings Bank was established by the Massachusetts Legislature and incorporated on March 3, 1871. The first meeting of the Corporators was held in Lyceum Hall (the building at the corner of Main and Mt. Vernon Streets in Winchester) on July 11, 1871. The Bank first opened its doors for business on August 26, 1871, in a banking room on the north side of Main Street.

In 1880, the Bank moved to the second floor of the Brown and Stanton Block on Main Street, and remained there until 1892 when it moved into its newly constructed building at 26 Mt. Vernon Street. This building still stands today and is regarded as a historical building by the Winchester Historical Society. The Bank's main office was moved on December 10, 1979 to its present location at 661 Main Street.  Since its founding in 1871, the Bank has grown into a full-service financial institution.

The Bank is an independent, mutual, state-chartered institution with a mission of meeting the financial needs of the communities which it serves. The Bank is directed by a Board of Trustees elected by the Bank's Corporators, a group of civic-minded, local individuals. Since the Bank is mutual, all profits from operations are reinvested in the Bank.

In 2012, Winchester Savings introduced a new logo that represents the three core values the Bank strives to embrace every day… Strength. Service. Community.

All deposits are insured in full by the Federal Deposit Insurance Corporation (FDIC) and the Depositors Insurance Fund (DIF). The Bank is an equal housing lender.

President's Message

President's Message

SegerstromAll of us at Winchester Savings Bank spent most of 2020 responding to the COVID-19 pandemic and its impact on our operations, our customers, and our employees. It was essential that we find ways to continue operations with little or no disruption while keeping everyone safe. Upgrading our core system in 2019 was key to creating the flexibility and security necessary to allow most employees to work from home.

At our branches, the impact of closed lobbies was mitigated by continued use of our drive-up facilities. Retail staff found ways to provide services that are usually done face-to-face, including making appointments and conducting some business in the parking lot. Throughout, the Bank followed CDC guidelines and state mandates for building occupancy levels and mask requirements.

We recognized that the impact on customers was the top concern, and the Bank took several steps to allay some of the financial pressures. These included waiving most deposit and loan account fees for several months and working with customers to address their concerns and when possible, modify their relationships with us.

We look forward to 2021 for two big reasons – a return to normal for all of us and celebration of the Bank's landmark 150th anniversary. On August 26, 1871, Winchester Savings Bank opened for business, and by the end of the day, had gathered more than $11,000 in deposits!

As always, we are proud to be a local bank with a strong financial foundation, a tradition of exceptional service and a legacy of community involvement and support. For 150 years, Winchester Savings Bank has been an excellent place to keep your money safe; to speak with friendly, knowledgeable experts about financing a home, saving for the future, and guiding your business; and to access services that offer both value and convenience. You will always find someone here who will work with you to explore your options and help you make smart financial choices.

All of us here at Winchester Savings Bank wish you a healthy and prosperous 2021.

Peter J. Segerstrom
President and CEO

Statements of Condition

Statements of Condition

The Statement of Condition document represents the financial position of Winchester Savings Bank. For questions, please contact us.

Statement of Condition 2020

Statement of Condition 2019

Statement of Condition 2018

Statement of Condition 2017

Statement of Condition 2016

Statement of Condition 2015

Statement of Condition 2014

Statement of Condition 2013

Statement of Condition 2012

Statement of Condition 2011

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