The Institution for Savings is widely recognized as one of the oldest and most stable mutual community banks in the country, with assets totaling approximately $1.014 billion as of March 31, 2009. It is also the largest mutual savings bank in the Greater Newburyport region and the third largest on the North Shore.

The Institution for Savings was founded in 1820 and is one of the oldest mutual banks in the country. Current President/CEO Mark Welch is only the 15th president in the bank's history, all of whom have been hired from within the organization. In addition to 5 retail banking offices, the Institution for Savings has a a dedicated lending office and two student-run educational school banks in local high schools (Ipswich and Triton). It also has an investment services division, 1820 Investment Services, which offers a full range of investment services through LPL Financial.