Watertown Savings Bank is committed to our community and committed to our customers. We will strive for excellence as an outstanding provider of financial services to promote thrift, home ownership, small business, employment and economic growth to ultimately benefit the residents of Jefferson County.

History

On January 2, 1894, Watertown Savings Bank opened for business. The first banking office was located at what was then No. 17 Washington Street, also known as the Marble Block (now part of the YMCA expansion). By 1921, with resources showing a growth of over four million dollars since the Bank’s inception, Watertown Savings Bank secured space in the new Woolworth Building, providing them with a new home on the busiest block in downtown Watertown. In the coming years, Watertown Savings Bank kept pace with the steady economic increase of the community. Annual growth and an increase in depositors lead to the development of more products and services in an effort to provide the very best in banking service. By the late 1950’s, however, it was clear that the Bank’s current location was entirely inadequate for their operating needs.

Watertown Savings Bank President James H. McGowan and the Board of Trustees knew that if they wanted to continue providing a superior level of service, expansion was once again a necessity. Ground breaking for the construction of a new Watertown Savings Bank building, located at 111 Clinton Street, was held at 10:00 a.m., June 18, 1959. The new Bank opened for business on June 27, 1960, with its 30 employees and $32 million in total assets.

In 1969, Watertown Savings Bank reached total assets of nearly $69 million, as the Bank celebrated its 75th Anniversary. Watertown Savings Bank had come a long way since 1894, and so had the economy in the surrounding area.

The 1990’s brought an influx of new people and businesses to the North Country. The closing of the Jefferson National Bank, indeed proved beneficial to Watertown Savings Bank. The customer base skyrocketed as Bank President, Ralph F. Brouty saw his institution grow to over $185 million. Ironically, while Watertown Savings Bank was expanding, other commercial institutions were downsizing and cutting back employment, promoting the use of ATM’s in place of tellers, imposing costly fees and distancing themselves from traditional banking practices. By the end of the twentieth century, it was Watertown Savings Bank who would be standing proud in the Community.

With over $220 million in assets, and 75 employees, the Bank prepared for its largest expansion in history; a new two story, 22,500 square-foot Main Office was to be erected. The $2.5 million building opened for business on July 9th, 2001. President, Bradley T. Clark said that "the Bank is making a statement with this building: that it is committed to the Jefferson County area for the long term; with emphasis on person-to-person service, not service through a machine."

Over 100 years ago, a small group of men set out with a goal to conduct business in the best interest of the citizens of this Community; today a larger group of people work together to ensure that the goal remains in tact. Since 1893, Watertown Savings Bank has been "Committed to our Community and Committed to our Customers".