First National Bank Of Groton Moravia
The First National Bank of Groton, which also has a branch in Moravia, New York, is a longstanding community institution that has been serving its region since 1865. Known for its motto Customers for life. One day at a time, the bank prioritizes personal service, local investment, and strong community ties. Though modest in size compared to national banks, its impact within Groton, Moravia, and surrounding towns has been profound, supported by its commitment to local families and small businesses.
History and Community Roots
Founded in 1865
The bank was established shortly after the Civil War by local business leaders intent on keeping finance close to home. From its origins in Groton, it expanded organically, opening a second branch in Moravia to better serve southern Tompkins County. A significant milestone came in 1896 when it elected one of the nation’s first female bank presidents, Welthea Marsh.
Local Independence
To this day, the First National Bank of Groton remains a locally owned and operated institution. With assets exceeding $200 million, it has resisted mergers and buyouts, preserving its identity as a family-focused community bank.
Branch Locations and Services
Groton Headquarters
Located in the heart of Groton, NY, the main branch serves as a hub for personal banking, community engagement, and local decision-making. It provides a full range of products including checking, savings, mortgages, loans, credit cards, and digital banking services.
Moravia Branch
The Moravia location, situated at 41 South Main Street, complements the main office by offering convenient ATM access, teller services, and access to the same suite of financial products. It caters to residents of Moravia as well as neighboring communities.
Products Tailored for Community Needs
Personal Banking
- Free Kasasa checking accounts with cash-back incentives or high-yield options
- Basic checking and savings accounts, including youth savings and holiday clubs
- Money market and certificate of deposit offerings for savers
These products are designed to encourage saving habits and financial growth among individuals and families.
Business Solutions
Small businesses can access checking, savings, money markets, and various loan options including SBA-backed programs and commercial real estate financing. The bank supports local entrepreneurs with customized banking solutions.
Loans and Credit Facilities
From auto and RV loans to mortgages and personal term loans, the bank offers competitive rates and quick processing. Business lending includes equipment loans and commercial real estate financing, supporting local economic development.
Digital Banking and Innovation
Modern Tech Partnerships
Despite its small size, the bank competes technologically with larger institutions through partnerships. Its collaboration with Kasasa provides nationwide ATM access and rewards checking, while Jack Henry & Associates delivers secure core processing, mobile banking, and digital account opening features.
Adapting During the Pandemic
During COVID-19, the bank quickly shifted to remote services and remote work, rolling out online loan applications, e-signatures via DocuSign, and enhanced mobile banking. These changes strengthened customer service without sacrificing personal connection.
Community Engagement
Building Relationships
The bank emphasizes long-term relationships, starting with youth through piggy bank giveaways and financial education in schools. It supports students in starting businesses and offers part-time employment to high schoolers, encouraging early career development.
Philanthropy and Local Support
Employees and management are active participants in local causes supporting schools, churches, fire departments, non-profits, and community events. This civic involvement reinforces trust and goodwill within the region.
Corporate Culture and Team Stability
Strong Employee Retention
With many staff members serving 2040 years, the bank fosters a family-like work environment. It’s known for low turnover and a collaborative atmosphere praised even by recruits from larger banks.
Leadership and Continuity
Stephen Gobel, president and CEO since 1978, and his family’s stewardship have provided stable leadership. Their ongoing commitment ensures a future centered on local priorities and independence.
Looking Ahead: Independence and Growth
No Plans for Merger
As consolidation intensifies in the banking sector, Groton remains independent. The bank believes that maintaining local control and responsiveness is essential to its mission.
Future Focus
The bank plans to further enhance digital services, expand business lending, and continue deepening its community roots. It aims to remain competitive through technology while preserving the personal care that distinguishes it.
Why Choose First National Bank of Groton
- Over 150 years of local banking history
- Personalized service with a long-term client focus
- Modern conveniences via national tech partnerships
- Comprehensive account choices including rewards checking
- Strong staff retention and deep community involvement
The First National Bank of Groton and its Moravia branch exemplify the strength of community banking in today’s fast-paced financial landscape. With a commitment to personal service, local engagement, and a balanced approach to innovation, it continues to meet the needs of families, businesses, and future generations. Its unique blend of tradition, modern banking tools, and deep-rooted community investment makes it a lasting presence in upstate New York.