Item 2. Properties
Item 2. Properties
The Bank’s headquarters building is located at 258 Elm Street in New Canaan, Connecticut. The property is leased by us until 2031. In December 2021, the Bank sold the property located at 220 Elm Street in New Canaan, Connecticut, which was previously used for our executive management offices.
We also lease office space for each of our branch offices in New Canaan, Stamford, Norwalk, Fairfield, Darien, and Westport, Connecticut. The leases for our facilities have terms expiring at dates ranging from 2022 to 2031, although certain of the leases contain options to extend beyond these dates. We own the Wilton and Hamden branch offices. We believe that our current facilities are adequate for our current level of operations. Each lease is at market rate based on similar properties in the applicable market area. Management continually evaluates its branch and other office locations for opportunities to maximize cost savings while meeting our growth needs and the needs of our customers.
Our branch office locations are as follows:
Branch Address Owned or Leased
Cherry Street 156 Cherry Street New Canaan, CT 06840 Lease (expires 2031)
Bedford 612 Bedford Street Stamford, CT 06901 Lease (expires 2022)
High Ridge 1095 High Ridge Road Stamford, CT 06905 Lease (expires 2028)
Black Rock 2220 Black Rock Turnpike Fairfield, CT 06825 Lease (expires 2024)
Sasco Hill One Sasco Hill Road Fairfield, CT 06824 Lease (expires 2031)
Wilton 47 Old Ridgefield Road Wilton, CT 06897 Own
Norwalk 370 Westport Avenue Norwalk, CT 06851 Lease (expires 2030)
Hamden 2704 Dixwell Avenue Hamden, CT 06518 Own
Westport 100 Post Road East Westport, CT 06880 Lease (expires 2028)
Darien 1065 Post Road Darien, CT 06820 Lease (expires 2028)
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