Sugar River Bank and Bank of New Hampshire Announce Definitive Agreement for the Sale of Bank of New Hampshire’s Claremont Office

NEWPORT AND LACONIA, N.H., October 31, 2026 – Sugar River Bank and Bank of New Hampshire jointly announced today that they have entered into a definitive Purchase and Assumption Agreement under which Sugar River Bank will acquire Bank of New Hampshire’s branch office located at 14 Sullivan Street in Claremont, New Hampshire, and assume the deposit relationships associated with the office.

Under the terms of the agreement, Sugar River Bank will assume certain deposit liabilities and acquire certain assets associated with the Claremont office, including the real estate and other branch-related assets. The transaction is subject to customary closing conditions, including approval by the Federal Deposit Insurance Corporation and other applicable regulatory authorities, and is expected to close by the end of January 2027.

Customers whose deposit relationships are included in the transaction will receive additional information in the coming weeks. Until the transaction is completed, the Claremont office will continue to operate as a Bank of New Hampshire location, and customers should continue to use their accounts and banking services as they normally do.

“Claremont is Bank of New Hampshire’s only office in Sullivan County and is geographically separate from the rest of our branch network,” said Chris Logan, President and Chief Executive Officer of Bank of New Hampshire. “After careful consideration, we determined that partnering with another community bank with a robust presence in the market provides the best path to preserve local banking access and support the long-term interests of our employees, customers and the Claremont community.”

“We are pleased to welcome the Claremont employees and customers to Sugar River Bank,” said Mark Pitkin, President and Chief Executive Officer of Sugar River Bank. “As a mutual community bank headquartered in Sullivan County, we understand the importance of local decision-making, personal service and continued investment in the communities we serve. The addition of the Claremont office is a natural extension of our commitment to the region, and we look forward to building on the strong customer and community relationships established by the Bank of New Hampshire team.”

Sugar River Bank plans to retain the Claremont branch employees. Customers can expect to continue seeing the familiar employees they know and trust at the office following completion of the transaction.

The transaction involves the Claremont office and its associated deposit relationships only. Loans held with Bank of New Hampshire will remain with Bank of New Hampshire and will continue to be serviced by the bank. Customers will receive advance notice and detailed instructions regarding any changes to their deposit accounts, debit cards, online banking access or other services before the anticipated January 2027 closing.

Both banks are committed to working together to provide employees and customers with a smooth transition and to minimize disruption throughout the conversion process.

About Sugar River Bank

Sugar River Bank, founded in 1895 and currently holding approximately $424 million in assets, is an FDIC-insured savings bank and a subsidiary of the mutual holding company, Sugar River Bancorp, MHC. As a full-service financial institution, the Bank offers personal and business banking, residential, consumer and commercial lending, and investment services. It operates six offices in Newport, Sunapee, New London, Grantham, Warner and Concord, New Hampshire.

About Bank of New Hampshire

Founded in 1831, Bank of New Hampshire is the oldest and one of the largest independent banks headquartered in the state. With assets exceeding $2.5 billion and 21 banking offices across New Hampshire and southern Maine, the bank provides comprehensive deposit, lending and wealth management solutions for families and businesses. As a mutual organization, Bank of New Hampshire is focused on the success of its customers, communities and employees—rather than stockholders. With a legacy of strength and stability, the bank combines local decision-making and trusted guidance with modern technology to deliver a seamless banking experience.