Franklin Savings Bank announced today that it has purchased $100,000 in CDFA tax credits to support PermaCityLife, a nonprofit organization that is leading the revitalization efforts in downtown Franklin. The tax credits will be used to support façade improvements to buildings acquired by PermaCityLife in 2016.
"We are pleased to support PermaCityLife with their revitalization efforts in downtown Franklin,” said Ronald Magoon, President & CEO. “This group has been instrumental in the restoration of buildings which have attracted new businesses to the area, including a unique coffee shop, a made in New Hampshire retail store, a co-working center and a whitewater outfitter. There really is a true sense of pride and community in the city and we are very pleased to be a part of it.”
The bank purchased 25% of the
total allocation of $400,000 in tax credits awarded by the Community
Development Finance Authority (CDFA). CDFA tax credits enable businesses to partner with nonprofits to support
worthy projects in their communities.
Established in 1869, Franklin Savings
Bank is an independent, mutually-owned community
bank, offering a full array of commercial lending, retail banking and investment services throughout the Central Lakes Region and southern New
Hampshire. Headquartered in Franklin, the Bank
has offices in Bristol, Boscawen, Tilton, Laconia and Gilford, as well as an
office in Bedford for business lending. Franklin Savings Bank also offers investment, insurance and financial planning
services through its wholly-owned subsidiary, Independence
from offices in Franklin, Bedford, Nashua and
Rochester, New Hampshire. As a recognized leader in
providing the latest in financial services technology, Franklin Savings
Bank remains committed to serving the needs of businesses,
families and the communities it serves, through a dedicated team of employees,
a diverse line of financial products and services, and continued investment in
You can learn more about Franklin
Savings Bank by calling 1.800.372.4445, or visiting www.fsbnh.bank, or following the bank on
Facebook, LinkedIn, Twitter and YouTube.