Sunapee Bank acquires Charter Trust
Lake Sunapee Bank has completed the previously announced acquisition of Charter Trust Company. Charter Trust was formed in 1984 as a New Hampshire-chartered non-depository trust company and is regulated by the State of New Hampshire Department of Banking. Lake Sunapee Bank was one of the six original owners of the company and now is the sole owner of Charter Trust. The acquisition creates a financial services company that is unique in the state of New Hampshire.
Headquartered in Concord, Charter Trust also has offices in New London, Meredith, Peterborough, Hanover and Rochester. The company’s team of professional wealth advisors and investment managers work with individuals and families to create, manage and preserve wealth. Managing over $1.5 billion in client assets, the company acts as fiduciaries for clients in 43 states and 10 countries.
For parent company Lake Sunapee Bank, full ownership of Charter Trust Company marks an important milestone in the bank’s plan to provide a fully comprehensive one-stop financial services company. As part of this plan, Lake Sunapee Bank also acquired a New Hampshire-based independent insurance agency, McCrillis & Eldredge Insurance, Inc., in 2011.