March 7, 2019

Clinton Savings Bank purchases Berlin branch building for $565K

Clinton Savings Bank's Berlin location

Clinton Savings Bank has purchased its longtime home in Berlin for $565,000.

The bank has leased the 35 Central St. location since 1998. Currently, the bank uses only a third of the 4,400-square-foot location.

With the purchase, which closed at the end of January, the bank now expects to fill out most of the space to enhance services, expand the bank's relationship banking model and merge the history of Clinton's Savings Bank in the community.

In a statement, President and CEO Robert Paulhus said the branch is strategically located near major routes like I-495.

"This transaction ensures that we will remain committed to the local footprint where we will continue to service Berlin's residents and businesses by offering the wide range of products they have come to expect from us," Paulhus said.

The bank has been in the area for 36 years since it opened a branch just a few doors down.

The structure was built as a home on about an acre of land in 1867.

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