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About Us

A Message From Our President & CEO

Peter Alden


Since 1895, Bay State Savings Bank has remained steadfast in its commitment to one mission: be the community bank of choice.

While many of the “big” banks have been bought, sold, or merged, Bay State Savings Bank remains mutual, independent, and locally managed with the interests of our customers and community always as a first priority. In our mutual form, we remain strongly capitalized, operate profitably, and perform safely.

As banking processes become increasingly digital, we embrace emerging technologies and provide our customers access to a user-friendly e-banking platform and efficient electronic delivery channels.

We pride ourselves in supporting the banking needs of local people and businesses. We seek to understand each customer as an individual and to know him or her by name. We work for long term relationships. and have been the cornerstone of our customers’ financial planning for generations.

Ultimately, we hope to provide these services to you.


We are committed to giving back and dutifully invest in the communities that invest in us. In 2003, we established the Bay State Savings Charitable Foundation, funded entirely by Bay State Savings Bank for the sole purpose of supporting non-profit organizations and programs that enhance the quality of life in our communities. Since its inception, the Foundation has distributed more than $400,000 in grants and scholarships.

Our employees offer their time and talents to the community as well. Our staff regularly volunteers at non-profit fundraising events and hold positions at non-profit organizations.

The last quarter of 2017 saw our employees assemble care packages for the homeless with Worcester non-profit Provision Ministry, clean workspaces at Plumley Village for United Way’s Day of Caring, and collaborate with social service agency LUK, Inc. to gift toys to children in Central Massachusetts for the holiday season.


I am pleased to report that the health of our Bank has never been better.

Having recently closed 2017 with just under 400 million dollars in assets, the Bank has reached another milestone. I attribute this success to the loyal support of our Trustees, Corporators, employees, and customers, and I am confident our latest success is only indicative of a more prosperous future.

Thank you for taking the time to read this message and invite you to explore our website.

Lastly, thank you for choosing Bay State Savings Bank - where we take banking personally.

Peter B. Alden, President & CEO
(508) 890-9014