Bristol County Savings Bank, founded in Massachusetts in 1846, has expanded its Rhode Island footprint to include Warwick, which its executives hope will provide a strong foothold into the rest of the state.

Mayor Joseph Solomon joined bank executives and employees last Wednesday for a ribbon cutting to celebrate the bank’s new loan office at 300 Jefferson Boulevard.

“I am so pleased that Bristol County Savings opted to open their newest loan office here in Warwick,” Solomon said. “With 17 branches spread across Rhode Island and Southeastern Massachusetts, I know Warwick’s central location, easy highway accessibility and business-friendly climate will ensure this location’s long-term success.”

Patrick Murray Jr., president and CEO of Bristol County Savings Bank, spoke about how the bank was the first Massachusetts-chartered bank to expand into Rhode Island. In early 2000, the bank extended its reach to northern Rhode Island in Providence and Pawtucket, and Murray said the Warwick loan office will continue its growth throughout the Ocean State.

“Opening this office is a great first step,” he said. “As long as this goes well, and it’s already going extremely well, we’ll follow that up with a full-service branch in this market not too far down the road.”

John Silva, executive vice president and senior lender, said the bank services all types of businesses, but puts a key focus on helping small businesses. He said Bristol County Savings was the top dollar-volume Small Business Administration lender in Rhode Island in 2018, and that many Warwick residents already have a relationship with the bank because it finances auto loans with various dealerships in the city.

“What makes us different is, as a small bank, it’s the personalized small service, the customization,” Silva said. “Our lenders will handle loans from zero dollars to $26 million, and you’re dealing with the same lender. We are working on kind of automating loans under $100,000 with our online product we’ll be introducing, but over that you’re handled by the same senior lender who would handle a large transaction who is very knowledgeable and very experienced.”

Beyond the dedication to supporting small businesses, Murray noted the bank’s commitment to promoting the good of the communities it serves. As a mutual community bank, Bristol County Savings does not have to cater to shareholders. This has allowed the bank – which has accrued over $2 billion in assets – to set up a charitable foundation that gave away more than $2 million last year.

“We lead with the community, get involved with the community, get to know the community and that opens up the doors for loans and deposits and those types of things,” Murray said. “We really consider the community to be our stakeholder.”