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New bank conditionally approved in Goffstown

GOFFSTOWN — A new bank was conditionally approved by the town’s Planning Board to set up shop next to the town’s Rite Aid.

Franklin Savings Bank will be housed in the new building. The mutual savings bank has been around since 1869 and has just over a half-dozen other locations throughout the state, including Bristol, Franklin, Gilford and Boscawen.

The building will be 2,160-square feet on about a half-acre of land currently being used as a park between Mast Road and Abingdon Way. The bank will have two drive-through windows, a stacking lane and a bypass lane.

Ron Magoon, president and CEO of the bank, said the bank wanted to come to Goffstown to offer a more local choice. Right now, all the banks in Goffstown are bigger name groups, like TD Bank.

“We feel like we compete pretty well against the very large banks because of our service, because of our commitment to communities, because of the things we do,” he said.

One of the conditions that developers will need to look into further have to do with traffic, such as whether the traffic signal phasing at the Mast Road intersection would need to be changed.

A small square would also be put in front of the building at Mast Road.

The park has been in place for about a decade. But over the years it’s become rundown and overgrown.

Robert Cruz, who owns the land, said the park is underutilized.

This would be the second location the bank has opened in the last year. A Merrimack location opened in September.

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