Exhibit 14.1



CODE OF ETHICS FOR SENIOR
FINANCIAL OFFICERS OF



NEW HAMPSHIRE THRIFT BANCSHARES, INC.



Policy Statement



It is the policy of New Hampshire Thrift Bancshares, Inc. that the Senior Financial Officers of New Hampshire Thrift Bancshares, Inc. and Lake Sunapee Bank adhere to and advocate certain professional and ethical
conduct in the fulfillment of their responsibilities. This professional and ethical conduct includes the promotion of professional conduct in the practice of financial management for the financial services industry, publicly traded companies and
otherwise, as well as the deterrence of wrongdoing. Senior Financial Officers hold an important and elevated role in corporate governance in that they are uniquely capable and empowered to ensure that all stockholders interests are
appropriately balanced, protected and preserved.



Purpose



The purpose of this Code of Ethics for Senior Financial Officers of New Hampshire Thrift
Bancshares, Inc. (Code) is to provide principles to which Senior Financial Officers of each of New Hampshire Thrift Bancshares, Inc. and Lake Sunapee Bank (hereinafter sometimes collectively referred to as NHTB or the
Company) are expected to adhere and advocate. They embody rules regarding individual and peer responsibilities, as well as responsibilities to other employees, the public and other stakeholders. It is expected that Senior Financial
Officers will not violate the specific guidelines nor conduct themselves in any manner which violates the spirit of the Code.



Senior Financial Officer



The term Senior Financial Officer shall include the Companys principal executive officer, principal financial officer, principal accounting officer or
controller or persons performing similar functions. The Board of Directors of the Company shall, by resolution, designate the Senior Executive Officers who shall be subject to this Code, which designations shall be updated from time to time, as
appropriate.



Statement of Ethics



All Senior Financial Officers of the Company shall:



|1. | Act ethically, with honesty and integrity, including ethically handling actual or apparent conflicts of interest between personal and professional relationships.
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|2. | Perform responsibilities with a view to causing reports and documents filed with, or submitted to the Securities and Exchange Commission (SEC) and in other public
communications made by the Company, to contain disclosure of information which is full, fair, accurate, timely and understandable.
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|3. | Comply with laws of federal, state and local governments applicable to the Company, and the rules and regulations of private and public regulatory agencies having jurisdiction over
the Company.
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|4. | Act in good faith, responsibly, with due care, competence and diligence, without misrepresenting or omitting material facts or allowing independent judgment to be compromised.
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|5. | Encourage and reward professional integrity in all aspects of the Companys finance and accounting departments, by eliminating inhibitions and barriers to responsible behavior,
such as coercion, fear or reprisal, or alienation from the Company itself.
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|6. | Provide a mechanism for members of the finance and accounting departments to inform senior management of deviations in practice from policies and procedures governing honest and
ethical behavior.
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|7. | Respect the confidentiality of information acquired in the course of the performance of his or her responsibilities except when authorized or otherwise legally obligated to
disclose, and not use confidential information acquired in the course of the performance of his or her responsibilities for personal advantage.
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|8. | Proactively promote ethical behavior among subordinates and peers.
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|9. | Use corporate assets and resources employed or entrusted to them in responsible manner.
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|10. | Not use corporate information, corporate assets, corporate opportunities or ones positions with the Company for personal gain, and not compete directly or indirectly with the
Company.
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|11. | Comply in all respects with the Companys Code of Ethics, Statement of Company Policy Regarding Confidential Information and Stock and Securities trading by Directors, Officers
and Employees, Statement of Company Policy Regarding Disclosure of Material Information and the Code of Conduct of Lake Sunapee Bank.
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|12. | Advance the Companys legitimate interests when the opportunity arises.
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Compliance and Compliance Monitoring



|1. | All Senior Financial Officers of each of New Hampshire Thrift Bancshares, Inc. and Lake Sunapee Bank will be required to annually certify their compliance with the Code and file
such certification with the Audit Committee of the Board of Directors.
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|2. | Any violations of this Code may result in disciplinary action, up to and including immediate termination.
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|3. | The Audit Committee shall have the power to monitor, make determinations, and recommend action to the Board of Directors with respect to violations of the Code.
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|4. | The Audit Committee shall annually review with management the implementation of this Code, and shall assure that the Board of Directors of the Company receives an objective and
adequate flow of information as to the matters that lie within the scope of the Code.
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|5. | Any alleged violations of this Code shall be promptly reported to the Chairman of the Audit Committee.
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|6. | If an employee would feel more comfortable submitting his or her inquiry or reporting a concern on an anonymous basis, the employee may do so by writing or faxing the same to the
Chairman of the Audit Committee.
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|7. | Any waivers of any provision of this Code shall be approved and documented by the Board of Directors and shall be disclosed on a timely basis, in accordance with applicable law.
Waivers will not be granted except under extraordinary or special circumstances.
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Amendments to Code



Any amendments made
to this Code shall be approved by the Board of Directors of the Company and shall be disclosed in accordance with applicable law.





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CERTIFICATION OF COMPLIANCE



WITH CODE
OF ETHICS FOR SENIOR FINANCIAL OFFICERS OF



NEW HAMPSHIRE THRIFT BANCSHARES, INC.



I hereby certify to the Audit Committee of New Hampshire
Thrift Bancshares, Inc. that:



1. I have read the Code of
Ethics For Senior Financial Officers of New Hampshire Thrift Bancshares, Inc. (Code) at least once during the past 12 months and understand my responsibility to comply with the principles and policies contained in the Code. I recognize
that my failure to comply with such principles and policies will be cause for severe disciplinary action or termination of my employment.



2. Except as stated in paragraph 3, immediately below:



(a) To the best of my knowledge, I and members of my immediate family, do not have any interest which might be deemed to be a conflict of interest under
the Code;



(b) To my knowledge, I have not violated any
federal, state, local or foreign law in connection with the Companys business; and



(c) I am not aware of any Company activities which violate the Code.



3. Exceptions to the above should be noted below:





I hereby certify that the above statements are, to the best of my knowledge
and belief, true and accurate.



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