Watertown Savings Bank

Watertown Savings Bank is a community-focused bank, a mutual savings bank since 1870 and headquartered in Watertown Square, that offers checking, savings, mortgages and business banking. Its approach is built on long-term relationships, with familiar staff and local decision-making on loans. Because the bank does not sell the mortgages it writes, borrowers continue to deal directly with the bank for the life of the loan.

Every deposit at the bank is insured in full, through FDIC membership plus membership in the Depositors Insurance Fund, which covers balances above the standard FDIC limit. Customers can also work with the bank’s financial advisor on investment planning, and those who join Club 50 get access to events, travel experiences and exclusive benefits. The bank describes community giving as part of its identity, with staff contributing about 1,800 volunteer hours a year to roughly 250 organizations.

What to Know

• The bank spotlights local nonprofits such as Watertown’s Operation American Soldier, which sends care packages to deployed troops.
• Its Waverley branch is moving to a new location in Belmont in fall 2026.
• The bank is a member of the Lexington Chamber of Commerce.