Page 52 - The History of Watertown Savings Bank_Neat

Branching Out

In 1963, Watertown Savings Bank took a The opening day of the new Northland Branch
significant step toward expansion by opening its was Nov. 22, 1963. It was the same day President
first branch office at Northland Plaza off State John F. Kennedy was assassinated in Dallas, Texas.
Street. This could not be completed, however, Mr. Archer recalled the day starting off with
until legislation had been approved in New WSB staff decorating the branch office with Watertown Daily Times photo
York State to allow savings banks to have the balloons and putting out trays of food for the new
“privilege” of opening a branch office. customers. Several card tables had been set up for
WSB initially attempted to open its first branch bank employees to sit down and help customers
office in Carthage, but was unable to obtain fill out paperwork for new accounts.
state approval for that location. Bank officials Many people had come through the doors and
were still determined to be the first savings bank opened new accounts that morning, he said. But
in Northern New York to open a branch office, the celebratory mood quickly turned somber that
and under the leadership of WSB future bank afternoon.
president D. William O’Donnell, they succeeded A radio had been playing music in the
in obtaining approval for their second site in
Watertown. background during the opening day activities.
Suddenly, people stopped talking and the office
Although the NYS Banking Department had became silent as the volume was turned up, Mr.
approved the Northland Branch, it wasn’t without Archer recalled.
some tight restrictions, recalled Leo M. Archer, a
retired WSB vice president. The stunning announcement was made that
President Kennedy had been shot and killed while
The Banking Department would permit WSB riding in a motorcade several hours earlier. Silence
to spend no more than $27,000 to open its new fell over the newly opened WSB branch office,
branch office, Mr. Archer said. This meant a and people quickly left the building, he said.
limited remodeling budget that did not include Eventually, the Northland Branch expanded
installing a bathroom in the storefront location
– so they used a nearby gas station when needed, and relocated into the former WOTT radio
he said. And they borrowed many items, ranging station building on Outer State Street. In 2004,
a new building was constructed across the street,
from copy paper to office furniture, from the where the bank’s State Street Branch has its
WSB main office.
current location.

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