Marthas Vineyard Savings Bank

The newly created Martha’s Vineyard Savings Bank will officially open for business following Veterans Day weekend, as a result of the merger of the Martha’s Vineyard Cooperative Bank and Dukes County Savings Bank.


Although title has not yet passed, the sale is virtually completed whereby the Martha’s Vineyard Cooperative Bank will purchase the Cosgrove house, so-called, on South Main street, Vineyard Haven, with the intention of moving into this building as soon as the necessary remodeling can be done. The present title is vested in Miss Grace T. Cosgrove although it was formerly the Island home of herself and her brother, Dr. Thomas C. Cosgrove.


Although the officials of the Martha’s Vineyard Cooperative Bank decline to be quoted now, the story that the institution is on the point of moving from its present quarters has become a general topic of public discussion within the past few days. The report is to the effect that the bank will move from the Martha’s Vineyard National Bank building, Vineyard Haven, where it has been since its inception in 1909, and will take up permanent and independent quarters in the new fireproof building erected by George C. Woods on the Mansion House property something less than two years ago.


Boston, March 25 - That the Martha’s Vineyard Co-operative bank, which heretofore has been a popular proposition on the Island, will soon become a certainty, and that the bank will be ready for business on the second Wednesday of April in the rooms of the Martha’s Vineyard National Bank at Tisbury, was the information given out this forenoon at the conclusion of the hearing which was held before the board of bank incorporators at Boston.