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Nantucket Bank was originally known as the Nantucket Institution for Savings. The Bank received its charter from the Commonwealth of Massachusetts on April 2, 1834, and opened for business on January 26, 1835. The steady growth of the bank is reflected in its deposit history. On that first day of operation in 1835 the Bank received eleven deposits totaling $257. By the end of its first year deposits had grown to $1,708, and in 1885, it's 50th year, deposits totaled $339 thousand. By its 100th year the Bank had long passed the million dollar mark with deposits of $2.6 million. The 150th anniversary, celebrated in 1984, showed the deposits exceeding $50 million, and today the Bank has deposits over $300 million, and assets in excess of $600 million. For the latest rates, please call us at (508) 228-0580 or click on Mortgage Rates or CD Rates. The Bank is a division of Sovereign Bank, N.A. now a part of Santander Group. |
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