Dime News

Dime Bank slated to open new branch in the Borough of Stonington

News Release - June 29, 2009

Norwich, CT - Dime Bank has applied to the State Banking Department and the FDIC for approval to open a branch in the Borough of Stonington in the site being closed by Bank of America on July 10, according to bank president, Jim Cronin.

Dime anticipates opening its branch in early September. Cronin said, "Dime is very pleased to be expanding its services to the citizens of Stonington and, in particular, those living or doing business in the Borough. There has been a bank in that location since 1851. Over all these years the community has come to rely on access to banking services by literally walking down the street. We believe the closure of the Bank of America branch will cause a significant inconvenience to existing bank customers. Dime saw this as an opportunity to introduce community banking to the Borough. We're looking forward to meeting our new neighbors and hope to provide a smooth transition. We are confident that Dime's approach to banking would be welcomed and supported by the people and businesses within the community, especially since Dime is already well known as a strong, committed, local institution."

The historic bank building, on Cannon Square in Stonington, is owned by The Stonington Historical Society, Inc. Meredith M. Brown, the society's president said, "Stonington Historical Society looks forward to having Dime Bank as our new tenant and neighbor. Dime has a strong reputation for service to its customers and to the community, and offers a wide range of banking services."

The branch would offer personal and business deposit accounts, commercial and residential mortgages, personal and business loans and will apply to the zoning department to install an ATM service. In addition, the bank would be providing brokerage and money management services through Dime Investment Services as well as Trust accounts through Dime Trust Services.

About Dime Bank
Dime, founded in 1869, is a $660 million mutual institution with nine branches in southeastern Connecticut and one in Westerly, Rhode Island. It is a community oriented financial institution offering competitive products to meet the needs of consumers, businesses, non-profits and municipalities. The hallmark of the Dime is the personalized manner in which it serves customers and supports its communities. It also has its own Foundation to further support community organizations.

As a grass roots effort, the Dime Bank Blue Crew was developed to expand upon Dime's 140-year tradition of supporting and giving back to the community. The Blue Crew volunteers support educational, non-profit and human needs efforts. For more information about requesting Dime Bank Blue Crew assistance at your event or organization, email us at bluecrew@dime-bank.com.

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