Savings Bank of Danbury history

At informal gatherings in the house, the younger Ives secured a charter for a railroad; it became the Housatonic line to Bridgeport; he later helped create and run the Danbury and Norwalk lines, completed in 1852, still in use today as the Danbury Branch of Metro-North's New Haven Line.

By 1866, one in six residents were making more than 1.2 million hats annually.

In 1874 it was the birthplace of Charles Ives, who became an internationally recognized composer in the early 20th century.

Then in 1907 the Bank purchased the site of the former Congregational Church which had burned in a fire, and then built a 12,600-square-foot facility, which remains a landmark in the community to this day.

In 1969, Savings Bank of Danbury had $4 million in cash and United States Bonds, backed up by $7.5 million in government securities.

At that time Union Carbide Corporation announced plans to relocate to Danbury; and in 1976 Florence R. Helley made history by being named the only female savings bank president in Connecticut.

In 1993 the Bank expanded with a 6,000-square-foot addition to its Main Street location.

By 1995 the Bank had earned the position of top residential mortgage lender in Danbury, with a portfolio that had increased from $69 million to $84 million, and opened a new branch in New Milford.

In 1996 the Bank purchased branch offices in Bethel and Brookfield from Norwalk Savings Society.

At the close of the 1997 fiscal year, assets had risen from $245 million to $345 million.

By the end of 1998, commercial loans had increased to $18 million and total assets were $353 million.

In 1999, total assets hit $362 million, and the West Street Lending Center opened.

The bank continued to grow and in 2004 The Savings Bank of Danbury Foundation was established, and in that year it awarded $51,336 in grants to 15 agencies.

The Bank expanded into Waterbury in 2005.

The bank has 22 locations, and owns the subsidiaries SBD Bank and the Stamford Mortgage Company, which it acquired in 2010.

The Foundation continued to expand its reach and in 2012 helped 46 agencies with a total of $140,050.

In 2014 the Bank’s assets grew to $880 million.

In 2015 Savings Bank of Danbury earned the distinction of being the #1 purchase mortgage lender in Danbury, providing loans in more than 90 towns in Connecticut.

In 2016 Martin Morgado became the Bank’s President and CEO. The Bank’s assets grew to $969 million.

In 2017 the Bank’s assets increased to $985 million, and the Foundation awarded nearly $180,000 to 66 local non-profit agencies.

2018 was a banner year for Savings Bank of Danbury; it surpassed the billion dollar mark, growing by a record of more than 9.5%. In all, the Bank today has almost 200 employees.

The Bank has a number of events planned throughout 2019 to commemorate its anniversary, and will announce them throughout the year.