Millyard Bank, the area’s newest community bank, which opened for business at 57 Northeastern Boulevard in Nashua, New Hampshire in late 2019 (shown in photo), announces it will open a second location in Hollis. The bank also recently announced its first community stock offering.

NASHUA – Millyard Bank, the area’s newest community bank, which opened for business at 57 Northeastern Boulevard in Nashua, New Hampshire in late 2019, announces it will open a second location in Hollis, pending regulatory approval. The bank also recently announced its first community stock offering; it is offering 460,000 shares of common stock at $12.50 per share.

“This is a very exciting time for Millyard Bank,” said G. Frank Teas, President of Millyard Bank. “The addition of a second location in Hollis allows us to provide convenient, local banking to a broader range of individuals and businesses. And the investments made through our public offering will bolster our ability to extend loans to businesses and individuals throughout southern New Hampshire to help ensure that they – and the region’s economy – thrive in these uncertain times.”

Millyard Bank opened on December 23, 2019, and was one of only five banks to open in the United States that year. Despite opening its doors just a few months prior to the onset of the COVID-19 pandemic, the bank quickly became an integral partner to local businesses. When funds became available through the Small Business Administration’s (SBA) Paycheck Protection Program (PPP) on April 3, 2020, Millyard Bank processed 100 loans totaling $18.9 million within two weeks. This effort was instrumental in helping local businesses maintain operations and preserve more than 1,600 jobs. Overall, Millyard extended 311 PPP loans totaling $32.2 million to 311 area businesses, helping to preserve 3,095 jobs.

With its new location in Hollis, Millyard will fill a need for area businesses that count on the services of a local community bank.

“Access to a local bank is critical to our business,” said Joan Marcum of Brookdale Fruit Farm, a seventh-generation family farm that currently employs 80, including 40 seasonal workers – 33 of whom are from Jamaica. “We have met with Frank [Teas] and we are excited to know that we will soon have a true community bank within walking distance of the farm. Aside from the benefits to our business, our seasonal employees, in particular, appreciate and value in-person banking, and Millyard will make this possible.”

“Millyard Bank will be a tremendous asset to the Hollis community,” said Tom Morin, President of Morin’s Landscaping. “They have an exceptional team, and they offer the same amenities as much larger banks with a focus on personalized service – they really get to know their customers.”

Work will soon get underway on Millyard Bank’s Hollis branch, and Teas anticipates an early 2022 opening.

“It has certainly been an eventful 22 months since we started,” said Teas. “But our success is testament to the need for a true community bank in our region – especially during challenging times – and to our tremendously dedicated team of banking professionals who have worked tirelessly to serve our customers. We look forward to this next step, and to becoming part of the Hollis community.”

Participation in the community stock offering is limited to current shareholders and potential investors in Connecticut, Maine, Massachusetts, New Hampshire, Rhode Island, and potentially other states where there is an exemption from registration under applicable securities laws. The common stock is not being offered in the community offering to persons who are not current shareholders of the Millyard Bank and who are located in Florida, Oregon, or any other state where there is not an available exemption from registration under such state’s securities laws. To request a copy of Millyard Bank’s community stock offering materials, please email Frank Teas at FTeas@millyardbank.com.

For information about Millyard Bank, including hours of operation, visit www.millyardbank.com.