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Sugar River Bank Offers Assistance to Homebuyers Through FHLB Boston Program

Newport, NH.  March 19th, 2018 — Sugar River Bank has been selected to participate in the Federal Home Loan Bank of Boston’s Equity Builder Program, which assists local homebuyers with down-payment and closing costs as well as homebuyer counseling and rehabilitation assistance.

The $3.1 million program provides grants to financial institutions to assist households at or below 80 percent of the area median income. Borrowers are eligible to receive up to $11,000 in assistance on a first come first serve basis. Buyers must also complete a homebuyer counseling program.

“We are pleased to be able to offer this assistance to help ease some of the challenges associated with a home purchase. Homeownership is key to building wealth and creating financial stability, and programs that assist homebuyers are a critical component in ensuring that our communities continue to thrive,” said Terri Crate, VP/Senior Retail Loan Officer, Sugar River Bank.

Sugar River Bank is eligible to receive up to $110,000 in 2018 through the Equity Builder Program depending on availability of funds.

Since 2003, the Equity Builder Program has awarded more than $35 million in EBP funds assisting 3,150 income-eligible households to purchase a home.

To learn more about applying for assistance, please contact Sugar River Bank at 800-562-3145.

 About FHLB Boston

The Federal Home Loan Bank of Boston is a cooperatively owned wholesale bank for housing finance in the six New England states. Its mission is to provide highly reliable wholesale funding and liquidity to its member financial institutions in New England. The Bank also develops and delivers competitively priced financial products, services, and expertise that support housing finance, community development, and economic growth, including programs targeted to lower-income households.

Sugar River Bank Announces New Intelligent ATM in Concord

Concord, NH – Sugar River Bank is pleased to announce the recent opening of its new Intelligent Deposit ATM in Concord, NH.  The new ATM is located at 150 North Main Street in the newly renovated Remi block building.

Sugar River Bank currently has 6 branch locations in Newport, Concord, Warner, Sunapee, New London and Grantham.  The state-of-the-art ATM is touch screen for easy use, allows the user to deposit multiple checks at once with check images upon receipt and bunched cash deposits without the need for an envelope.  The addition of the stand-alone ATM is another step toward offering more locations and options for Sugar River Bank’s customers in Merrimack County.    

Mark Pitkin, President and CEO, stated “The Bank is pleased to be a part of the Concord Community.  The Remi block ATM offers a convenient location for our Concord customers and potential new customers to be able to stop and make deposits or withdrawals heading to and from work or home if they are unable to make a trip to our Loudon Road branch.”

Sunapee Business After Hours

     Sunapee - In its newly renovated Sunapee branch, Sugar River Bank hosted the July 29 Lake Sunapee Region Chamber of Commerce (LSRCC) June Business After Hours.

Dozens of chamber members from the area gathered to network and see the renovations. LSRCC Board President, Rich Marshall kicked off the speaking portion of the meeting with an introduction of the Chamber’s new Executive Director, Kerry Pascetta.  He elaborated on the variety of events and marketing opportunities for chamber members set for the summer before handing the floor over to Mark Pitkin, Bank President and CEO.  Mr. Pitkin stressed the importance of local banking and the investment the organization has made in support of that objective.

Sugar River Bank gave away two generous door prizes consisting of gifts from local businesses, in addition to new “Sunapee” mugs for each attendee.

-Lake Sunapee Region Chamber of Commerce

Sugar River Bank Appoints New Corporators

Sugar River Bank is pleased to announce the recent appointment of four local individuals to the Board of Corporators:  Darryl Parker, Joseph Burns, Terri Crate and Ann O'Clair. 

Darryl Parker is the owner and operator of Schoodacs Coffee Shop in Warner, NH.  He is also the CEO of Parker Web, a North Carolina web hosting and maintenance company for small businesses. 

Joseph Burns is a broker/partner of Coldwell Banker Lifestyles with offices in New London, Sunapee, Eastman, Hanover and Warner. 

Terri Crate is the Vice President/Senior Retail Loan Officer at Sugar River Bank with over 32 years of banking experience. 

Ann O'Clair also works at Sugar River Bank as its Vice President/Chief Financial Officer.  She previously owned Mill Stream Structures Inc with her husband. 

Sugar River Bank Renovates Sunapee Branch

     SUNAPEE — Construction has begun on an 1,800-square-foot renovation project that will add innovative features, an Internet café, and improved energy efficiency at Sugar River Bank’s Sunapee branch.

The renovations are designed to “meet the expectations of banking in the 21st century,” according to a press release from Raymond, New Hampshire-based Jewett Construction Co., which is partnering with the NES Group, a bank design firm out of Massachusetts.

Sugar River Bank President and CEO Mark Pitkin said in an email on Friday, May 5 that as a local community bank, Sugar River Bank takes pride in providing the most up-to-date banking facilities to serve its customers.  

“We believe that the ongoing capital investments in our branch offices is testament to the bank’s loyalty and commitment to serve our communities for the long haul,” Pitkin said.

The Sunapee branch project will include some of the most innovative components of delivering bank services, such as teller pods and the Internet café, according to Pitkin.  

“Once the project is complete, we invite all who are interested to come in and visit the completely renovated space,” he said.

The renovation project will include a “complete cosmetic makeover,” including drywall, flooring and millwork, according to the construction company.

The building, at 541 New Hampshire Route 11, will also be updated to meet codes, increase energy efficiency and improve customer experience.

The project is expected to be completed in time for the summer tourist season, and is underway while the bank remains fully operational, all according to Jewett.

Sugar River Bank has been offering service to citizens of New Hampshire since 1895. The bank first opened its doors in Newport, and has grown to six locations.

After more than 100 years, the bank is still locally owned and operated. Along with Sunapee, the bank has branches in Newport, New London, Grantham, Warner and Concord, and an Intelligent Deposit ATM in Bradford.  

Story by Tory Jones Denis, Eagle Times.

 

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