Boston-Area Bank Plans Salem Branch


Another Boston-area bank is planning to expand its footprint into New Hampshire.

Century Bank & Trust Co. plans to establish a branch office at 365 South Broadway in Salem, according to a Massachusetts regulatory filing. The bank is based in the Boston suburb of Medford.

While at least on out-of-state lender is pulling back in the state – Connecticut-based People’s United Bank sold a handful of its New Hampshire branches to Maine’s Bar Harbor Bank & Trust earlier this year – others see opportunity in the Granite State. For example, Cambridge, Massachusetts-based Cambridge Trust Co. announced plans to buy Portsmouth-based Optima Bank and Trust 11 months ago, part of its aim to lead the wealth management and trust market in Greater Boston and Southeastern New Hampshire.