From left: Katharine Face, director of operations, G. Frank Teas, president and CEO, and Angela Provencher, director of corporate administration, display the Millyard Bank (In Organization) banner inside its future home at 57 Northeastern Boulevard in Nashua.
The Federal Deposit Insurance Corporation (FDIC) and the State of New Hampshire have conditionally approved the charter for Millyard Bank (In Organization), bringing the area’s newest community bank one step closer to opening in the Greater Nashua area.
Additionally, CBTBE Corp., the seed-company formed to shepherd the bank’s development, received more than 200 subscriptions totaling in excess of $20 million.
“With the positive results of our private offering, and these conditional approvals, our vision of bringing community banking back to the area is coming to fruition,” says John P. Stabile, chair of CBTBE Corp.'s board of directors. “With strong ties to Greater Nashua, the bank will serve businesses and consumers with a unique local perspective – understanding the needs specific to our community members and businesses. We are eager to serve our home community, and achieving these milestones brings us that much closer.”
The bank plans to open this winter. In addition to a retail office and operations space, the bank will include a 500-square-foot conference room dedicated for public use. “The Boiler Room” will be used for educational opportunities for the community.