Millyard Bank, Nashua's newest bank, is open for business. In addition to Millyard Bank’s retail office and operations space, the bank features a 500-square-foot conference room dedicated for public use. “The Boiler Room” will be used for educational opportunities for the community.
“We recognized the need to establish a locally owned and managed community bank to serve the needs of business owners, professionals and individuals in Southern New Hampshire,” says G. Frank Teas, President and CEO. “We have assembled an outstanding team of banking professionals who are dedicated to providing personalized service; common sense, local, decision-making; and cutting-edge banking technology to our customers. We are proud to bring true community banking back to the region and look forward to welcoming clients.”
Millyard Bank opened its doors on December 23, 2019, and is one of only five banks to open in the United States in 2019. Between 1995 and 2009, an average of 125 banks opened annually in the U.S., but fewer than 30 have opened nationally since 2010. The bank will hold a grand opening in January.
CBTBE Corp., the seed-company formed in May 2018 to shepherd the bank’s development, received subscriptions from more than 200 subscribers through a private offering totaling in excess of $20 million. The bank received conditional approvals from both the Federal Deposit Insurance Corporation and the State of New Hampshire during the third quarter of 2019.