News & Information
In our most recent examination by regulatory agencies, Lake Sunapee Bank received an “Outstanding” rating for its performance under the Community Reinvestment Act (CRA). Historically, less than ten percent of financial institutions in the U.S. earn the coveted “Outstanding” rating which is reserved for banks that most effectively meet the credit needs of their local communities.
The Office of Controller of Currency (OCC) periodically evaluates thousands of banks across the country to determine how well their lending practices contribute to the vibrancy of local communities. The OCC report for Lake Sunapee Bank states, “Lending activity is excellent, given the strong market competition in the NH Non-MSA for all types of residential loans and small loans to businesses.”
In addition, our community development performance demonstrated “the Bank provided a relatively high level of Community Development” which assesses community lending, investments and contributions with a focus on serving low-to-moderate income populations within our marketplace.
“We are proud to receive the ‘Outstanding’ rating for the Community Reinvestment Act (CRA),” states Stephen Theroux, President and Chief Executive Officer of Lake Sunapee Bank. “This rating recognizes the commitment of our staff and the Bank to the success and vitality of the communities we serve… a role and responsibility we take seriously.”
Lake Sunapee Bank is pleased to announce that Judy Folsom has been hired as Vice President, Training and Education Manager for the Bank. Ms. Folsom comes to Lake Sunapee Bank with thirty two years of banking experience, having spent the last five years managing training at a regional bank in the New England area.
Judy says, “I’m excited and honored to be given this great opportunity. Lake Sunapee is a people-focused organization so I look forward to supporting employees through education.”
In addition to her valuable experience, Judy is also certified in Training and Development from the University of Southern Maine and is a Williams School of Banking Graduate. Ms. Folsom currently resides in Moultonborough, NH and has lived and worked in the New England area all of her life.
Lake Sunapee Bank is pleased to congratulate its director, John P. Stabile II, for his recognition as Citizen of the Year by the Greater Nashua Chamber of Commerce. Mr. Stabile was honored for his years of leadership and development within the greater Nashua community.
Mr. Stabile is the founder, Chairman, and Chief Executive Officer of The Stabile Companies, a holding company involved in commercial construction, residential construction, real estate management and holdings. He has served three terms in the New Hampshire Senate as Senate Majority Leader and was chairman of the New Hampshire State Republican Party on four occasions. He has served on the Board of Directors for many organizations and has been a member of the Nashua Police Commission. He previously served as a Trustee for Bridgton Academy, Norwich University, Rivier College, and Hesser College, respectively, in New Hampshire.
“John represents the passion and commitment to community which thrives throughout our organization including our Board of Directors and our employees. We cannot think of a more deserving person to receive this award,” commented Stephen R. Theroux, President and Chief Executive Officer of Lake Sunapee Bank. “We are proud the stewards of our organization embody our mission to be an active participant and advocate for community growth and prosperity.”
In addition to Citizen of the Year, Mr. Stabile was recently awarded the “Good Scout Award” from the Daniel Webster Council, Boy Scouts of America. Previously, he has been recognized as Builder of the Year and as one of the ten most powerful people in New Hampshire by Business New Hampshire magazine three times.
Americans live in a mobile society, relying on smartphones, tablets and computers to gather news, make purchases, interact with friends and family, and connect with financial institutions. Increasingly, cybercriminals compromise the networks that support these devices. This often results in identity theft, which can also yield financial losses and safety for consumers. A recent report from the Center for Strategic and International Studies (CSIS) found that computer hackers have stolen the personal information of approximately 40 million U.S. residents.
October is Cyber Security Awareness Month, and Lake Sunapee Bank and the Independent Community Bankers of America® (ICBA) are offering tips to help consumers avoid having their online financial information disrupted or stolen. ICBA, along with more than 6,000 community banks across the country, urge consumers to remain vigilant and protect themselves from potential credit card and bank fraud.
Lake Sunapee Bank and ICBA offer the following tips to help consumers safeguard their online accounts:
- When sending sensitive information via the Internet, make sure “https:” appears in the address bar. This means the information you are transmitting is encrypted.
- Ensure the wireless network you use is password-protected, and choose a strong password and update it frequently for your work and home wireless networks. Likewise, always use a passcode on your mobile phone or tablet to stop an unauthorized user from accessing your device.
- Don’t enter sensitive information into your phone when others can see what you’re entering.
- Set the privacy settings on frequented social network sites. Cybercriminals often learn about people and their families and friends via social media in an attempt to spoof or phish you and your network.
- Remain cautious of someone who isn’t who they say they are or if the name and area don’t match what appears on caller ID. This is often how spoofing occurs.
- Never respond to text messages, emails or phone calls from companies alleging to be your bank, government officials or business representatives that request your banking ID, account numbers, user name or password.
- Similarly, don’t click on links sent to you from unknown sources via text message because they are likely malware.
- Beware of “get rich quick” schemes; never voluntarily give out your bank account information or security credentials.
“Now more than ever consumers must remain alert to the possibility of their personal credit and financial security being compromised,” said Bill McIver, Senior Executive Vice President and Chief Operating Officer for Lake Sunapee Bank. “Checking their accounts regularly and keeping their computers up to date with the latest antivirus/malware software is highly recommended.”
You can learn more about Cyber Security Awareness Month by visiting https://www.staysafeonline.org/ncsam/
Lake Sunapee Bank Welcomes New Mortgage Originator, Expanding Lending Territory Into Southern NH and Northern MA Regions
Lake Sunapee Bank is pleased to announce the addition of new Mortgage Loan Originator Michael Potito. Michael will be originating residential loans for the Southern New Hampshire and Northern Massachusetts market; to include Westford, Chelmsford, Pepperell, Groton and Littleton, MA areas.
With more than 16 years of experience in the financial services industry, and having previously worked for a major bank in the Northern MA region, Potito has a well-established career and is highly respected in his field. He is an expert in understanding and analyzing clients’ mortgage financing needs and enjoys educating clients, while providing exceptional service and the best products for each unique situation.
Upon joining the bank Michael says, “I am incredibly excited about joining Lake Sunapee Bank and am looking forward to working for a bank that thrives on offering exceptional, local, customer service. I am pleased to be able to offer a variety of mortgage products to the Northern Massachusetts market.”
Michael recently joined as a member to the Northeast Association of Realtors. He is also a Certified Outdoor Emergency Care Technician and Education Trainer as well as a member of the National Ski Patrol. He currently resides in Groton, Massachusetts.
Lake Sunapee Bank is excited to announce that it will be opening a full service branch at 8 Loudon Road in Concord, NH. The new branch will be conveniently located just off I-93, in the same building as ConvenientMD, next to Bed Bath & Beyond and Buffalo Wild Wings. With the addition of this new branch, Lake Sunapee Bank’s banking network will now consist of 37 branch locations in seven counties throughout New Hampshire and Vermont.
Plans for the 3500 square-foot space include a progressive branch concept, incorporating technology and design to enhance the customer experience. The branch will offer a full range of retail banking services, as well as dedicated personnel for Commercial Banking, Business Banking and Mortgage Lending Services. In addition, the office will offer Insurance Services and Financial Planning Services.
“This is a real milestone for Lake Sunapee Bank in our continued commitment of providing life-cycle banking products, services and technology,” said Stephen R. Theroux, President and Chief Executive Officer of Lake Sunapee Bank. “This office is meant to satisfy our growing customer base in the Capital region; helping them in ways that fit their own situations, budgets and financial goals.”
The new branch will also offer a drive-through and ATM, which will serve as a convenient complement to Lake Sunapee Bank’s other ATM kiosk in Concord, located on North Main Street. The new branch will also offer free on-site parking and a night depository. More information on a date for the grand opening as well as branch hours will be announced as it becomes available.
Lake Sunapee Bank is pleased to announce the addition of new Commercial Loan Officer, Sherry Breen Seskin. With more than 22 years of professional banking experience, and having previously worked for both a major bank and regional lender, Seskin has a well-established career and is highly respected in her field.
She is pleased to be serving the greater Nashua community and is thrilled to have the opportunity to further introduce Lake Sunapee Bank to this area. Upon joining the bank Sherry says, “I am very excited to be part of the LSB family and am looking forward to being an integral part of their expansion into the Southern New Hampshire Region.”
In addition to her vast amount of experience in banking, Ms. Seskin also holds an Associate of Science Degree in Accounting from Daniel Webster College and a Paralegal Certificate from New Hampshire Technical Institute.
Lake Sunapee Bank is pleased to introduce an enhanced logo and launch of its refreshed visual brand. Each element of the new logo and visual brand highlights the Bank’s strategic focus to set new standards in emerging market areas. The rebranding reflects both the evolution of the company as well as the Bank’s vision for the future.
“The release of the enhanced logo and consistent visual brand marks a significant milestone for us,” said Stephen R. Theroux, President and CEO of Lake Sunapee Bank. “It illustrates our vision and ambition for the future. We are very excited and committed to establishing our brand and strengthening our position as the premier provider of financial solutions throughout our market areas.”
As part of the rebranding, the Bank has incorporated a cohesive, mutually enhanced, identity for its whole family of brands which includes McCrillis & Eldredge Insurance and Charter Trust Company. The new brand-mark will begin appearing this month across all 37 branches throughout New Hampshire and Vermont.
All Lake Sunapee Bank offices will be closed on the following holidays:
|New Year's Day||Thursday, January 1|
|Martin Luther King Day||Monday, January 19|
|Presidents' Day||Monday, February 16|
|Memorial Day||Monday, May 25|
|Independence Day||Saturday, July 4|
|Labor Day||Monday, September 7|
|Columbus Day||Monday, October 12|
|Veterans' Day||Wednesday, November 11|
|Thanksgiving Day||Thursday, November 26|
|Christmas Day||Friday, December 25|