Savings Bank of Walpole has announced plans to open a new branch in Winchester.

The bank recently filed applications with the FDIC and New Hampshire Banking Department to open a branch at the recently vacated TD Bank location next to Kulick’s Market. The location will be the $602 million-asset bank’s sixth branch in Cheshire County and its leaders hope to take advantage of other lenders’ branch closures to attract more business.

“TD Bank’s departure left Winchester without a bank and we immediately began hearing from businesses, individuals and town officials asking Savings Bank of Walpole to consider opening a branch in Winchester,” bank President Mark Bodin said in a statement. “The Monadnock Region is our home and we felt a sense of duty to explore how we can expand to serve Winchester and the surrounding area. The ability to move into an established bank facility along with the support from the town’s businesses, residents and town leadership played a big role in our decision to move forward. We look forward to being more than the town’s bank, we plan to be a partner for Winchester and part of its future growth.”

Work on the full-service branch will begin this summer and it is expected to open around Labor Day.

“The town of Winchester is extremely excited to see that Savings Bank of Walpole has decided to open a branch in Winchester,” Winchester Town Administrator Karey Miner said in a statement provided by the bank. “We feel that Savings Bank of Walpole will be a huge asset to our Town. On behalf of the residents and the town of Winchester we would like to take this time to welcome Savings Bank of Walpole to Winchester.“