The banking business in Greater Haverhill has seen a many changes over the years and, similar to the person hawking programs at a sporting event, Haverhill Bank President and CEO Thomas L. Mortimer knows “you can’t tell the players without a program.”

Serving as a local banker for more than 40 years, Mortimer is the “go-to” historian for the local banking scene, you can’t tell the banks without a seasoned veteran. He shared some of his memories recently with listeners of WHAV’s “Win for Breakfast” program. He starts with Haverhill Bank, which will be celebrating its 150th anniversary in a couple of years.

“Haverhill Bank was founded on Aug. 13, 1877 and the very first meeting was at the Good Templar’s Hall at 53 Merrimack St., and, also at the very first meeting, the first loan was made to an F.S. McKenny for the sum of $400. Back then, when they used to make loans, they would discount the loans, so you would ask for a loan of $400 but you get $320, but you would have to pay back $400. Those are usury type interest rates that are not allowed today,” he explained.

Mortimer quipped he has been involved with Haverhill’s banking landscape “so long that he can give directions by referencing landmarks that no long exist.” He named some of the other financial institutions while speaking of the growth of Haverhill Bank.

“Haverhill Bank in the 70s merged with Citizens Cooperative Bank. In 1982, they merged with Whittier Cooperative Bank. In 2008, they merged with Northeast Community Credit Union and then in 2012 they merged with Economy Cooperative Bank in Merrimac. And, all that today is Haverhill Bank.”

Mortimer also explained that in the early days, bank presidents usually had other full-time jobs, considering the bank as a part-time position. They also took great pride in having modest working conditions.

“I think at one time Haverhill Bank shared office space with Haverhill National Bank. Haverhill National Bank was where Bank of America is today, right at the corner of Merrimack and Emerson. And, then the Gleason Law Offices, that was Bay Bank Merrimack Valley on Merrimack Street right across from Haverhill Bank. Back in the 70s, I believe, the former CEO, chairman and president of Pentucket Bank, Ed Cote, was the president of Bay Bank Merrimack Valley. When they were consolidating Bay Bank, he became president and CEO of Pentucket Bank.”

Mortimer’s first job in Haverhill was in 1985, at Family Bank, formerly Haverhill Savings Bank and now TD Bank on Merrimack Street, across the street from where he works today.

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