Superintendent Lacewell Announces DFS Approves New Bank Branch

Sawyer Savings Bank to Open New Branch in Ulster County

Press Release 

June 30, 2021


Sawyer Savings Bank to Open New Branch in Ulster County

Superintendent of Financial Services Linda A. Lacewell today announced that the New York State Department of Financial Services (DFS) has approved the application of Sawyer Savings Bank to open and operate a new branch office in Ulster County.

“Today’s approval reinforces DFS’s commitment to expanding financial institutions across the state,” said Superintendent Lacewell. “This branch opening will continue to provide financial services options to Ulster County and its communities while also bringing positive economic impact to New York as we work to rebuild and recover.” 

Sawyer Savings Bank had total assets of $265.5 million as of March 31, 2021. Including its principal office located in Saugerties, New York, Sawyer Savings Bank presently operates three branch offices in Ulster County, New York.  

“We are very excited to be expanding our footprint into the dynamic community of Woodland Pond” said Douglas P Sturges, CEO Sawyer Savings Bank. “As a customer focused financial institution for over 150 years, we believe our core values and relationship-based philosophy will be a great addition to the area of New Paltz. I want to personally thank the New York State Department of Financial Services for their approval and look forward to providing our banking services to the residents and staff at Woodland Pond as well as the surrounding community.”

The new Sawyer Savings Bank branch will be open to the general public at 100 Woodland Pond Circle, New Paltz, Ulster County, New York 12561.