Newburyport Five Cents Savings Bank history

In 1890, the cornerstone was laid for a new structure on the corner of State and Harris Streets by the Reverend Thomas M. Clark, Bishop of Rhode Island, who grew up around the corner on Green Street in a house that is now the Clark Currier Inn.

In 1894, a local publication noted that for thirty years the Fowle's News Company had held an unrivaled reputation for reliability and excellence of goods.

The Dalton House stayed in the Brown family until 1897, when the private organization the Dalton Club was founded.

By 1900 there were sixty well-furnished "sleeping rooms." The dining room had a capacity of 100; there was a first class caf�; a barber shop; and rooms for bathing, writing, reading and billiards.

The architect Edwin Sherrill Dodge, a Newburyport native and son of E. P. Dodge, a shoe factory owner, conducted the rehabilitation and expansion of the building in 1903.

Arakelian, and he purchased the remaining half of Fowle�s in 1920.

The Newburyport Five Cents Bank conducted business here until 1927, when the bank moved across the street to its present location.

Arakelian established the Mary Alice Arakelian Foundation, in memory of his beloved wife who died in 1965.

A third expansion added a new structure to the rear of the old building in 1981.

In 1987, a fire destroyed the Corliss Memorial, the home of the Young Men�s Christian Association.

In March 2011, bank president Richard Eaton retired and Janice Morse was named president and chief executive officer of the bank.