National Grand Bank

National Grand Bank is a community bank in Marblehead that bills itself as a first choice for banking on the North Shore. It serves individuals and businesses with everyday accounts, cards and ATM access, and runs a dedicated mortgage origination department. Its roots reach back to Marblehead’s seafaring era, when local citizens wanted a progressive bank to finance vessels and serve both the town’s fishermen and the merchants who made their living by the sea.

The bank was incorporated in 1831 and named for the Grand Bank off Newfoundland, where Marblehead fishermen sailed twice a year for cod. It added National to its name after giving up its state charter to become a national bank in 1865. For more than 130 years it operated from a stone building on Hooper Street before moving in 1963 to its current home on the site of the old Boston and Maine Railroad depot.

What to Know

• Major Joseph W. Green served as the bank’s first president.
• In 2002 it opened a student-run branch inside Marblehead High School.
• The bank bought the former Maple Lane Bowling Alley in 1984 and turned it into its operations center.
• The original stone bank building still stands and now houses a legal office.