Millbury Savings To Open Worcester Branch
Lt. Gov. Timothy Murray was expected to attend a ceremony this morning at the future site of Millbury Savings Bank's first Worcester location.
The bank has two Millbury locations and assets of more than $200 million. It hopes to break ground on the branch in the spring and it will be located at the corner of Providence and Millbury streets.
The state sold the land to the bank for $40,000 after it became surplus property because of a improvement project to Route 146. Millbury Savings won a bidding process to purchase the land. The bank has already received permits to construct the full-service branch location from local planning, zoning and conservation boards and just needs a building permit to begin work. The bank hopes to open the new branch in the summer of 2011.
As part of Friday's announcement, Millbury Savings Bank President and CEO William J. Walsh also announced a $40,000 donation to Quinsigamond Elementary School and $25,000 over five years to the Vernon Hill Elementary School.
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