Flagship Bank About Flagship Bank - A Brief Background Flagship Bank and Trust Company opened for business on December 27, 1987. Situated in Central Massachusetts, Flagship was the first new bank to have opened in the Worcester area in 35 years. Flagship Bank is a state chartered commercial bank whose primary mission has been to serve the banking need of Central Massachusetts. As a full service community bank, Flagship Bank has focused its resources on the business, residential mortgage and the trust investments needs of its community.
Flagship is a publicly owned and locally managed commercial bank.
At this time the bank has approximately 140 employees. Flagship has developed a well-deserved reputation as an innovator within the financial community, resulting in many awards for both its programs and employees. The Worcester Fund was created as the country's first socially responsible banking program. All deposits to this fund are FDIC insured and receive a market rate of interest. The funds received are reinvested solely to help the City of Worcester and its contiguous towns as well as the Montachusett region in the critical areas of affordable housing, economic development and the environment.