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Answer» What is The Savings Bank mean? The Savings Bank (formerly Wakefield Savings Bank) is a state-chartered mutual bank headquartered in Wakefield, Massachusetts and founded in 1869. It is one of the oldest banks in the United States. The Savings Bank has over $655 million in assets, and 9 branches, serving residents of Wakefield, Lynnfield, Andover, Methuen, North Reading, and surrounding cities and towns. The Savings Bank became FDIC insured in 1985 and was assigned the FDIC certification number 90291. A wholly owned subsidiary of Wakefield Bancorp, MHC, reference
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