Official ground-breaking for North Shore Banks Corporate Headquarters located at 248 Andover Street (Route 114), Peabody.
Left to Right: Craig Fishman, George Sophinos, David LaFlamme, David Ankeles, Francis McCormack, Gary Cowles, Mayor Michael Bonfanti, Michael Zellen, Thomas Kostinden, Frances Bresnahan, Jean Delios and Nicholas Decoulos.
In 1982, George Peabody Co-operative Bank again merged with another prominent area financial institution, this time the Roger Conant Co-operative Bank headquartered in Salem. The resulting growth from this transaction brought the bank’s assets to over $100 million.
Under the leadership of then President Francis J. McCormack, in 1996 the bank’s name was officially changed to North Shore Bank. Having expanded its service area considerably over the preceding decades, it was felt that the new name was more representative of the growing bank. In addition, the new name more accurately conveyed the full range of services indicative of a modern community financial institution. That year, the bank also formed North Shore Bancorp, a bank holding company, and established the George Peabody Community Loan Fund — providing affordable loans to small businesses, real estate owners, and first time home buyers in the community.
One by-product of all of this business activity was the resurgence of office space challenges . . . North Shore Bank had clearly outgrown its 32 Main St., Peabody location. Consequently, in 2007 a new Corporate Headquarters was built on Andover Street, Route 114 in Peabody, and later that year David J. LaFlamme was named President of the bank.
In 2014, North Shore Bank and Saugusbank, a Co-operative Bank, entered into a definitive agreement to merge. In Saugusbank, a $210 million community bank with a 100 year legacy, NSB had found an ideal partner. Located at the “Gateway to the North Shore” the addition of Saugusbank extended the North Shore Bank footprint to the southern-most point of Essex County. Upon completion, North Shore Bank became an eleven branch community bank with almost $700 million in assets.
In November of 2015, North Shore Bank and Merrimac Savings Bank announced the completion of their merger. The combined entity, operating as North Shore Bank, became a $750 million financial institution serving more than 25,000 consumers and businesses in eastern Massachusetts and southern New Hampshire, adding branches in Merrimac, Massachusetts and Newton, New Hampshire.
In 2016, North Shore Bank announced that Chief Executive Officer, David J. LaFlamme would retire after a 40-year banking career, and he would be succeeded by the Bank's President, Kevin M. Tierney, Sr., who would assume the role of President and Chief Executive Officer.
For over 130 years, North Shore Bank has provided quality banking services to families and businesses throughout the North Shore. As a well-capitalized community bank, we are committed to developing strong customer relationships by providing quality products along with outstanding customer service. Supported by a growing network of offices, our customers find convenience in dealing with a local institution willing to meet their needs.