September 13, 2017
Lowell, MA – In a memo to Sage Bank employees, Bank President Diane Walker announced today that Sage Bank is seeking approval from regulators to relocate its main office from its current location at 18 Hurd Street to its existing building at 15 Hurd Street, directly across the street.
“I’m excited about this initiative,” said Walker. “Relocating our main branch gives us the opportunity to revitalize our main office with a brand new and more modern look and feel to accompany the best technologies available to service our customers. It will also allow us to combine retail banking, lending and operations into one location, allowing for better space utilization, more effective staff interaction and collaboration, and reduced operating expenses.”
The relocation of the main office is subject to a number of regulatory approvals, including the Federal Deposit Insurance Corporation and the Massachusetts Division of Banks.
To prepare for the relocation, the Bank will make the necessary interior modifications and enhancements to 15 Hurd Street to accommodate a more modern, open-concept retail banking presence. The Bank will be able to offer handicap access to all floors of the building at 15 Hurd Street, an accommodation not possible at its current main office location.
Once the relocation application is approved, the Bank intends to sell the building at 18 Hurd Street.
With assets in excess of $140 million, Sage Bank has been serving the banking needs of the Greater Lowell community since 1885. With two full service banking centers, a lending and an operations center in Lowell, Massachusetts and a mortgage banking division with five residential lending centers throughout Massachusetts, Sage Bank offers customers commercial, residential and consumer products and services. All deposits are fully insured by the Federal Deposit Insurance Corporation (FDIC) and the Share Insurance Fund (SIF) of the Co-operative Central Bank.