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Our history

A century and a half of service, support and strength.

On March 10, 1868, Webster Five opened for business with 20 deposits made at our first location on Main Street in Webster, MA. Two years and 710 depositors later, the bank moved to a larger space down the street where we could better serve our growing customer base.

As the community grew, so did the bank. And throughout the 20th century, Webster Five saw significant success, while also enduring the Great Depression. During the postwar housing boom, many area residents came to Webster Five for mortgages, loans and savings accounts. Local businesses also relied heavily on the bank during this time of commercial and community growth.

In 1954, our headquarters became the iconic red brick building at 290 Main Street. After we opened our new headquarters on Thompson Road in 1980, 290 Main Street became our downtown office and remained a nostalgic icon in Webster until closing its doors in 2009. To better serve the needs of surrounding communities, Webster Five opened branches in Oxford and Dudley during the 1960s and 1970s, and has since expanded to Auburn, Worcester and Shrewsbury.

Strengthening our position as a financial leader in the community, Webster Five was one of the first banks in Massachusetts to start offering NOW checking and a totally free checking account. As we embrace the changing needs of our customers, we have adopted online banking and enhanced technology to make banking easier and more convenient.

Today, supported by our solid history and secure financial base, Webster Five has a reputation for outstanding personal service, community support and fiscal strength. In addition, our expanded branch network has made it more convenient than ever for area residents and businesses to bank with us.


Webster Five Headquarters moves to Millbury Street in Auburn.


The bank launches the Customer Contact Center.


The Front Street, Worcester branch opens and moves from Commercial Street.


Webster Five redesigns website and includes online account opening.


The Chandler Street, Worcester branch opens and moves from Park Avenue.


The Shrewsbury branch opens at 261 Grafton Street.


The Commercial Street, Worcester branch opens.


Online banking is offered to Webster Five customers.


The first Worcester branch opens on Park Avenue.


Rick Lawton (former CEO) creates the Webster Five Foundation to provide donations and grants to local charities.


The Auburn branch is opened at 400 Southbridge Street.


Our first ATM is installed at our Webster branch.


The Webster branch opens at 136 Thompson Road.


The bank begins using computers to record bank transactions.


The Dudley branch opens at 208 West Main Street and introduces Webster Five’s first drive-through teller window.


The Oxford branch opens at 343 Main Street.


Webster Five adopts the services of the Depositors Insurance Fund (DIF) to secure the deposits of its customers during the Great Depression.


The Main Street branch moves across the street to the Eddy Block and remains there for the next 80 years.


Webster Five Cents Savings Bank is started by local businessmen and led by Senator Dr. F.D. Brown. The branch is located on the Spaulding Block of Main Street in Webster, Massachusetts. Its first loan is issued to George Braly for $800 at 7% interest.


Webster Five CEO, SVP, and MLO with BBB reps
Webster Five was named a Winner of a BBB 2022 Central Massachusetts Award for Marketplace Excellence.
Monica Thomas-Bonnick
Monica Thomas-Bonnick, VP, Business Lending Officer, named as one of the WBJ Outstanding Women in Business.
Darryl Caffee, SVP, Director of Retail Lending, named to the Worcester Business Journal's 40 Under Forty, the best and brightest business leaders under 40 in Central Mass.
Nicholas Lynch, SVP, Mortgage Sales, named a Top Loan Originator in Central MA for Banks by Banker & Tradesman for the second year in a row.


Voted “Best Bank” through Worcester Telegram & Gazette’s Best of Central Mass Awards
Monica Thomas-Bonnick named to the Worcester Business Journal's Power 50, profiling the most powerful and influential people in the region.
Nicholas Lynch named to the Worcester Business Journal's 40 Under Forty, the best and brightest business leaders under 40 in Central Mass.


Voted “Best Bank” through Worcester Telegram & Gazette’s Best of Central Mass Awards
Voted "Best Bank" through Worcester Magazine's Best of Worcester contest
Awarded Lender of the Quarter for Q2 of 2019 by the Massachusetts Small Business Administration


Voted “Best Bank” through Worcester Magazine's Best of Worcester Contest
Our 'Seasons of Giving' United Way Committee was honored with the “Inspire by Example” Outstanding Volunteer Team Award for their exceptional service to the community


Voted "Best Overall Leadership" through Worcester Telegram & Gazette's Best Places to Work contest
Voted “Best Bank” through Worcester Telegram & Gazette’s Best of Central Mass Awards


“Best Bank in Auburn” by Auburn Chamber of Commerce, for the 6th time in a row
Received Better Business Bureau’s Marketplace Excellence Award
Voted “Best Bank” through Worcester Telegram & Gazette’s Best of Central Mass Awards
Rich Leahy, President/CEO, won the United Way of Central MA Aubrey Reid Award for his senior leadership and playing a major role in the success of the United Way campaign


Brian Westerlind, CFO, won WBJ 40 Under Forty award
Voted “Best Bank” in Worcester, by Worcester Living Magazine

Our promise

The forward-thinking bank that never forgets where it came from.

It’s an exciting time to be a bank. Advances in technology are enabling customers to bank with a level of convenience and speed that was once unimaginable. At Webster Five, we’re taking full advantage of today’s technology by offering online and mobile banking, a host of electronic cash management services for businesses, an expanded ATM network and valuable checking account features like our “Swipe&Save” automated savings service. Likewise, we’re continuously assessing the diverse and changing needs of our customers — which is why we offer a wide range of products, from basic checking and savings accounts to more comprehensive interest-bearing accounts and a full range of mortgages, loans and investment services.

But even though we’re moving forward, we’ll never forget the importance of giving back to the community that has supported us for over a century. Through our Web of Caring to Make a Difference program, we’ve distributed millions of dollars in charitable contributions to local nonprofit organizations, while our employees have donated their time and energy to civic organizations, social services and community causes.

We also believe that being a great community bank means providing outstanding personalized attention. In a world that has gravitated to impersonal service and automated phone messages, you’ll find Webster Five a refreshing change. We empower each and every employee to take personal initiative in serving our customers. This includes opening accounts, addressing questions and solving problems, and informing you about products and services.

When you add it all up, you’ll agree we’re different, we’re better and you can believe it.