Putnam Bank announced that it will open its first full-service branch office in Norwich late summer 2009. The Bank purchased the 2,850 square foot building on the site of the former Sportsman’s Athletic Club, located at the junction of Route 82 and 40 High Street. Renovations, which are slated to begin as soon as permits are issued, include the addition of a drive-up window and 24-hour ATM. The site was mainly chosen for its convenience and visibility.
“This new office will provide an important link for us between Putnam and our southernmost branch office in Gales Ferry, and will also help us solidify our position as a major competitor in Eastern Connecticut. Putnam Bank is the number one mortgage lender in Windham County and, since our purchase of three People’s Bank branches in 2005, our residential and commercial loan portfolio is steadily increasing in New London County as well” said Thomas A. Borner, Chairman and CEO of the 147-year-old bank. “The location is very well-situated on busy Route 82 and we are pleased to be opening in Norwich and share in its prestigious 350-year history.”