Bank History

Mt. Washington Bank has enjoyed a long and storied tradition serving the people of Greater South Boston for more than 100 years.

In June of 1893, the bank opened for business. In the early days, there were no paid employees, therefore the bank was only opened every second and third Wednesday of each month from 7:30 to 9:00 PM. The board of directors designated three of its members to act as agents of the bank to receive all payments to their respective places of business.

In 1901, the bank office was moved to 445 Broadway where it remained until October 1935 when the Directors purchased and renovated the building at 430 West Broadway, where a branch office still stands today.

Why is a South Boston bank named after a New Hampshire mountain?

It isn't. There is another Mt. Washington. It is a bit smaller and is more formally known as Dorchester Heights, right up in South Boston near South Boston High School. Dr. Thomas Giblin, a member of our Board of Directors and a descendent of one of the bank's founders, tells the story this way.

In 1776, British troops had been quartered in Boston for over a year and showed no signs of leaving. General George Washington was anxious to break down the deadlock, but his raw and undisciplined Continental Army troops were incapable of a successful assault.

He hit upon the idea of fortifying Dorchester Heights, which would dominate British supply routes and the harbor. In the dead of the winter he sent Henry Knox to Fort Ticonderoga to bring a canon to Boston. With the help of Ethan Allen and the Green Mountain Boys, Knox dragged several cannons over 300 miles of snow and ice to Dorchester Heights.

Washington fortified the hill and it became known- if only locally- as Mount Washington. The British, finding themselves vulnerable to devastating attack, decided to evacuate Boston without a fight and left in 125 vessels on March 17th of that year, a date celebrated with great enthusiasm ever since.

Both Telegraph Hill and Mt. Washington combined were known in years past as Dorchester Heights, and also as the Twin Hills. Distance titles were given to each to distinguish them. Mt. Washington is a short distance northeast of Telegraph Hill and includes the territory between Dorchester I, East 3rd, East 4th, and G streets.

What's Happening Now?

In 2010, Mt. Washington Bank became a Division of East Boston Savings Bank.  The combined organization brings together the very best of the community banking culture to Suffolk County.