In September 1989, a group of eleven prominent civic and business leaders was formed to discuss the feasibility of opening a new community bank in the Upper Valley. This was in response to the changes in the local banking scene that resulted from long-established community banks being sold and merged into larger regional financial institutions. At that September meeting, the group decided to embark on the establishment of a new community bank whose trademark would be providing personal, responsive and efficient services to businesses and individuals in Hanover and neighboring towns.