First Ipswich Bancorp was organized in 1985 as a Massachusetts chartered bank holding company. Bancorp is headquartered in Ipswich, Massachusetts. As a bank holding company, Bancorp is subject to regulation by the Federal Reserve Board ("FRB"). Through Bancorp's wholly-owned subsidiary, The First National Bank of Ipswich (the "Bank"), Bancorp provides community banking services to its principal market areas of northeastern Massachusetts, the Boston/Cambridge market and southeastern New Hampshire.