Grong Sparebank

From Wikipedia, the free encyclopedia

Grong Sparebank
Type	Cooperative
Founded	1862
Headquarters	Grong, Norway
Area served	Nord-Trøndelag,Norway
Industry	Financial services
Revenue	▲ NOK 42 million (2006)
Operating income	NOK 15 million (2006)
Net income	NOK 10 million (2006)
Employees	27 (2007)
Website	www.grong-sparebank.no

Grong Sparebank is a Norwegian savings bank based in Grong. The bank is affiliated with the Terra-Gruppen alliance and has branch offices in Grong, Harran, Namsos, Røyrvik, Lierne, Steinkjer and Mosvik. Total assets are NOK 1,269 million.

[edit] History

The sparebank was founded on April 7, 1862, to serve Grong Parish, that included both Grong, Harran, Høylanded and Røyrvik. By 1905, both Høylandet and Harran wanted to have separate banks, and the bank was split into three branches. In 1955, the bank created a separate branch in Røyrvik and Bergsmo, the later being closed in 1997. The year 1975 saw the merger between Grong Sparebank and Lierne Sparebank, though until 2000 there was a separate board of directors for the Lierne branch. In the 2000s, the bank expanded with a branch in Steinkjer and in 2006 it merged with the smallest bank in Norway, Verran Sparebank in Framverran in Mosvik.