Lake Sunapee Bank Completes Purchase of Charter Trust

Lake Sunapee Bank of Newport has completed its acquisition of Charter Trust Company, headquartered in Concord. Charter Trust was formed in 1984 as a New Hampshire-chartered non-depository Trust Company and is regulated by the State of NH Department of Banking. Lake Sunapee Bank was one of six original owners of the company and now is the sole owner.

Charter Trust also has offices in New London, Meredith, Peterborough, Hanover and Rochester. The company’s team of wealth advisors and investment managers work confidentially with individuals and families to create, manage and preserve wealth. Managing over $1.5 billion in client assets, the company acts as fiduciaries for clients in 43 states and 10 countries.

“Since our inception, Charter Trust has been focused on creating long lasting relationships with our clients,” said Steven Albrecht, president and chief executive officer of Charter Trust Company.

For parent company Lake Sunapee Bank, full ownership of Charter Trust Company marks an important milestone in the bank's plan to provide a fully comprehensive one-stop financial services company.  As part of this plan, Lake Sunapee Bank also acquired a New Hampshire-based independent insurance agency, McCrillis & Eldredge Insurance, Inc. in 2011. With these strategic acquisitions, Lake Sunapee Bank can now offer financial leadership, products and services to customers at any stage of life. 

“We have the kind of trusted relationships with our customers that only a community bank like ours can provide,” said Stephen R. Theroux, president and chief executive officer of Lake Sunapee Bank. “We now have the capability of providing a full array of financial products and services at a high level of expertise together with Charter Trust and McCrillis & Eldredge.”