Dime Bank Inching Closer To Presence In North-Central Connecticut

Manchester CT

08 October, 2020

3:09 PM

Description

MANCHESTER, CT — Federal and state regulators have endorsed Dime Bank's foray into the competitive North Central Connecticut financial market. Plans were announced over the summer to establish Dime branches in Manchester at 299 Middle Turnpike West and in Glastonbury at 1009 Hebron Ave. Banking authorities gave the expansion their blessings this week. The target is to open during the holiday season, though Dime officials have not released a formal timetable. While opening dates for the sites have not yet been announced, Dime officials are hoping to be operating in the area by the holidays. The north-central Connecticut banking climate has been contentious for about 15 months, ever since People's United Bank announced a $759 million takeover of United Bank. United Bank merged with Rockville Bank in 2013 in a $369 million deal. Rockville Bank's roots go back to 1858 and the Savings Bank of Rockville. The merger led to branch and automated teller machine closures in tows like Manchester, Vernon, Enfield, Glastonbury, South Windsor and Windsor. The bank also left branches at Big Y supermarkets in Enfield and Manchester. Dime Bank's stronghold is in the southeast portion of the state in towns like Norwich, Ledyard, Montville, Mystic, New London, Stonington, East Lyme and Colchester.