Equity Bank's newest branch in Andover, located at 345 N. Andover Road, held a ribbon-cutting ceremony with refreshments on Wednesday, Jan. 24 to celebrate the building. It has been open since October of last year.
Although Equity Bank has been in Andover since 2003, they had been leasing a building until now. This one, they own. Andover is a significant city for Equity Bank since the bank's charter is based there.
"Andover is where our roots are, and so we wanted to make an investment in the community. So we decided, what better place to do that than Andover?" Wendell Bontrager, president of Equity Bank, said.
With the new branch established, Equity Bank has two goals prioritized for their presence in Andover. First, they want to make an impact on the community by supporting charities, events and other functions. Second, they plan to foster growth through banking services for businesses and the rest of the community.
"We had a very strong showing at the ribbon cutting the other day, and that's an example of the support the Andover community has given us over the past 15 years. And we want to be able to grow in that community," Bontrager said.
Equity Bank was formed in 2002 with $30 million in assets. Today, Equity Bank has over $3 billion in assets.