Date: Fri 30-Apr-1999

Publication: Bee

Author: STEVEB

Quick Words:

Newtown-Savings-bank-ATM

Full Text:

Savings Bank Considers A Branch In Sandy Hook

BY STEVE BIGHAM

Sandy Hook's revitalization plans received a boost earlier this month when the

Newtown Savings Bank expressed interest in establishing a branch office there.

Sandy Hook center, which has never had a bank, has had its ups and downs over

the years as businesses have moved in and out. But two local developers are

proposing major changes to the area along the Pootatuck River and the prospect

of a bank is helping to make their plans a reality.

"We want to be involved in Sandy Hook and contribute to the vitality down

there. We want to be a part of the rebuilding process," noted Joe Humeston,

bank vice president. "If it includes a branch or an ATM machine, we'll look at

that."

Mr Humeston and bank president John Martocci recently walked through Sandy

Hook center, and after meeting with Bill McCallister, of the Sandy Hook

Organization for Prosperity (SHOP) and builders Michael Burton and Mike Porco,

they decided they might want to bank on Sandy Hook.

SHOP is made up of local business owners who want to make the most of the

area. Last month, Mr McCallister told a Chamber of Commerce gathering that a

bank would be the key to any comeback.

"It would be a first step for us," Mr McCallister said. "Everything is a

building block. There's the water line (which SHOP is trying to have extended

into Sandy Hook center), the bank, and sewers. In order to have a solid

structure you have to have a good foundation. That's what all these things

are."

For now, the bank's immediate plans are to install an ATM machine somewhere in

the center. Putting in an ATM machine alone would be a losing proposition

since the bank does not charge usage fees. However, Mr Humeston said the bank

would do it as a "good neighbor" until a final decision can be made on a

full-service branch.

Michael Burton purchased the former K's Korner building more than a year ago

and has been busy sprucing up the 4,600 square-foot building and adjoining

land ever since. He fixed up the liquor store (now known as Pootatuck Spirits)

and re-paved the rear parking lot. He has plans to create a small shopping

center along the river -- complete with atrium -- and has plans to put up a

laundromat.

Mr Porco has been renovating the buildings on the opposite side of the road.

Many of those buildings have been vacant for several years.