Andover Business - Andover Bank

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Revision as of 16:27, 8 September 2011 by Eleanor (Talk)

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  • Andover Savings Bank opened in 1826 on Essex Turnpike which later became Main Street.
  • When the National Bank Act of 1863 was passed, the Andover Bank changed from a State Bank into a National Bank and was called the Andover National Bank.
  • With an addition to the original structure the Andover Savings Bank opened on the ground floor of the expanded space. In 1924 the Savings Bank moved to another building on Main Street.
  • Simplified its name to Andover Bank in 1991
  • Went public on May 8, 1986, with the symbol ANDB on NASDAQ.
    • The value of each share on May 8, 1986: bid 17 1/8; ask 17 3/8
  • Andover Bank (ANDB) was officially bought by BankNorth Group of Portland, Maine on October 31, 2001. Because it is no longer sold, Andover Bank stock is not listed on Bigcharts.
  • Formally became BankNorth (BNK) in February of 2002; BNK is sold on the NYSE
    • At the closing 2.27 shares of Banknorth was exchanged for one share of Andover's stock.
  • The name was changed to TD Banknorth in 2005.
  • The name was changed to TD Bank September 2009; Tronto-Dominion Bank is sold on the NYSE and the symbol is TD.
  • Last President of Andover Bank was Gerald T. Mulligan


  • Andover Townsman, May 22, 1986.
  • Andover Townsman, June 14, 2001
  • Andover Townsman, November 15, 2001.
  • Andover: A Century of Change by Eleanor Motley Richardson, (974.45 Ric),page 133 - 134 and page 222.

--Eleanor 16:29, February 8, 2006 (EST) --Eleanor 14:57, August 24, 2011 (EDT) back to Main Page