Today, it manages over $8 billion in assets and operates more than 30 branches across Massachusetts, focusing heavily on regional homeownership and small business growth.
AI responses may include mistakes. For financial advice, consult a professional. Learn more Our History & Heritage | Salem Five Bank salem five bank
Founded in in Salem, Massachusetts, the bank was originally called the Salem Five Cents Savings Bank . It earned the nickname "The Nickel Bank" because its first-day deposits ranged from just five cents upward, making banking accessible to everyday people who were often overlooked by larger institutions. A Pillar of Community Resilience Today, it manages over $8 billion in assets