Photo courtesy of Thomaston Savings Bank
Timothy Bergstrom
Executive Vice President and Chief Operating Officef, Thomaston Savings Bank
Thomaston Savings Bank recently reopened its newly remodeled Middlebury Branch located at 1655 Straits Turnpike. Originally opened in 2007, the newly remodeled branch received a modern upgrade that Executive Vice President and COO Timothy Bergstrom says reflects how Thomaston Savings does business today.
Bergstrom has a wealth of experience and joined Thomaston Savings Bank after nearly 30 years at Webster Bank where he managed the bank’s business banking team and SBA lending program. Prior to joining Webster Bank in 1998, he held various roles at Centerbank in Waterbury including as regional manager in the bank’s community banking division.
Q: Why did the bank feel that the branch needed a remodel?
A: We opened our Middlebury branch in 2006. We hadn’t really made any significant changes there since the branch was first opened. We’re definitely committed to the location. We want to be part of the growth that’s been experienced in that market area. There’s been a lot of professional and business growth in the area and given the great location, we are able to attract both consumer customers and business customers from Waterbury, Watertown and Middlebury, because it’s a really convenient location. It’s at the crossroads of Middlebury, Waterbury and Watertown. The design itself reflected our desire to really focus on the customer experience, having a better flow to the office. We definitely wanted to strengthen our brand with more prominent signage and some landscaping details that we were able to make changes to the property. The branch really stands out in terms of its signage and its visibility.
Q: How important is being able to utilize signage and proper branding in a banking landscape where there’s lots of competition?
A: We know that there’s a lot of competition in this market. So having that up-to-date signage that stands out and having the branch be highly visible from a very well traveled state highway is extremely important to our branding. I think the inside of the branch was really designed to provide hoteling, or shared space, for some of our product specialists to be able to meet with clients. People like our mortgage brokers, our commercial lending team and then our financial advisors, there’s all hoteling and shared space there for them to be able to meet with clients in a professional and confidential environment.
Q: The role of the branch has changed with the advent of internet and mobile banking, but when it comes to today’s banking landscape, just how have the features and functionality of branches changed?
A: I think when clients have significant financial needs, they do still like to come to a branch and speak to the branch manager and other product experts. Whether it be buying a first time home or making some investments for retirement or for their children’s college. I think our clients, still do like to meet with bankers and discuss their needs and solve their needs. So to have professional, clean, secure space to have those conversations is still very important to our client base.
Q: When it comes to maybe the layout or overall design, what were you looking for in terms of distinct features of the branch?
A: I think our architects did a really successful job of incorporating a traditional design but also was able to do that in a more welcoming environment. There’s significant amount of open space. There’s a lot of natural light. There’s a very nice client waiting area that was installed. There are numerous shared office space where they can continue to have confidential meetings with our bankers.
Q: Whether it’s deciding on when to renovate or adding branches, what is the strategy of the bank when it comes to its branches?
A: I think that right now, we’re happy with our branch complement in the towns and cities that we’re located in. We believe that, not only with the advent of digital and online solutions, we also feel that there will likely always be a place for branches because clients still want to come in and meet with bankers. Branches will continue to be an avenue that we explore in order to continue to meet our clients evolving needs.
