A Local Bank. A Regional Powerhouse. A Shared Vision.
In 2018, Savings Bank of Walpole (SBW) joined NH Mutual Bancorp (NHMB) with a simple but powerful goal: to remain an independent, locally governed mutual bank while gaining access to the scale, talent, and technology necessary to thrive in an increasingly competitive and complex banking environment.
Just a few years later, the results are unambiguous.
SBW has doubled in asset size, quintupled its earnings, and continues to grow capital at an accelerated rate-unlocking even greater opportunities to serve the people and businesses of the Monadnock Region. At the same time, the bank has retained its individual charter, its own Board of Directors, and its deep connection to the communities it has served for over a century.
“Being part of NH Mutual Bancorp has allowed us to preserve what makes SBW special—our independence, our culture, and our relationships–while gaining access to expertise and tools we could not have afforded or supported on our own.” said Mark Bodin, President of Savings Bank of Walpole. “It’s the best of both worlds—local banking with the strength of a larger, shared enterprise behind us. This approach allows us to focus on staff and brand which has been the source of our success over the past seven years.”
As part of NHMB’s shared services model, SBW benefits from access to technology infrastructure, compliance resources, risk management, human resources, and strategic talent that would have been out of reach as a standalone institution. These capabilities – shared across all NHMB Affiliates – free up the SBW team to focus on what they do best: serve their customers, invest in their community, and grow responsibly. What’s remarkable is that SBW has maintained the size of its own workforce in their communities over this time and added two new branches, with having another 20 shared employees of NHMB who live in the Monadnock Region. The combined workforce in the SBW footprint is greater than prior to the affiliation. This gives SBW more presence to carry out its hyper-focused community engagement program.
“This affiliation has been transformational.” noted Sylvia McBeth, a longtime SBW Director. “Our decision to join NHMB has ensured we can remain fiercely local while building long-term sustainability. It has given us the resources to stay competitive and relevant for the next generation of customers.”
The enhanced earnings and capital have translated directly into increased community impact—from expanded charitable giving and sponsorships to more flexible lending to small businesses and families across the region.
“SBW’s community commitment is evidenced by its team of people dedicated to community service from their roles in bank and their engagement in organizations that support the economic health and vitality of the Monadnock Region”, said Jay Kahn, the mayor of Keene. “SBW has leveraged its increased capacity to support small businesses through COVID, help developers add housing units and build community spirit by giving back to its communities. SBW is a valued community partner.”
A Model for Mutual Banks
SBW’s success is not just a local story—it’s a model for other mutual banks across New England. The NH Mutual Bancorp model offers a way for like-minded mutual institutions to retain their identity and community mission while becoming stronger together.
“We didn’t lose our name, our charter, our board, or our voice,” added Bodin. “We gained a partnership—and a future.”
If you are a mutual bank interested in building strength, resilience, and relevance without giving up your independence, NH Mutual Bancorp offers a proven path forward.