Salem Five Insurance Acquires Elliot Whittier Insurance

Customers receive expanded suite of services, same service commitment

Woburn, MA., November 15, 2021 – Salem Five Insurance, a subsidiary of Salem Five Bank, announced today that it has acquired Elliot Whittier Insurance Services LLC of Danvers and Winthrop, which was founded in 1882 and is a Five Star Agency deeply committed to the communities it serves.

“This partnership will provide Elliot Whittier customers with more choice while maintaining the same great service that they have always enjoyed,” said Andrew Drayer, SVP of Strategic Growth for Salem Five Insurance.

With the addition of Elliot Whittier employees, Salem Five Insurance will now have more than 75 professionals in eight locations across the Greater Boston area. The agency partners with dozens of carriers to meet the specific personal and business needs of its customers throughout the region.

“We are dedicated to our customers, communities and our employees,” Elliot Whittier Principal Steven Roy said.  “We know Salem Five shares these values and will continue to strengthen these relationships.”

Added agency Principal Wayne Guyer, “We believe we can offer more together.”

“We look forward to serving Elliot Whittier customers and continuing to provide them with the quality service that they have come to expect from their insurance agency,” said Gerard “Jay” Boyle, President of Salem Five Insurance.


About Salem Five Insurance and Salem Five Bancorp

Salem Five Insurance is a subsidiary of Salem Five Bancorp, which is also the holding company of Salem Five (, a mutual bank founded in 1855. Whatever the need and whatever the goal, Salem Five’s banking, investment and insurance professionals have the expertise to move customers forward. Salem Five has more than $6 billion in assets and 33 retail branches in Essex, Middlesex, Norfolk and Suffolk counties. In addition to Salem Five Insurance, divisions include Salem Five Mortgage Company, one of the largest mortgage lenders headquartered in New England; Salem Five Wealth Management & Trust, which offers fiduciary wealth management services to institutions and high-net-worth individuals, financial and retirement income planning, portfolio review and money management; and Salem Five Insurance Services, which provides personal and commercial insurance. Salem Five deposits are insured through the FDIC. Salem Five Mortgage Company’s NMLS # is 4662. Equal Housing Lender. Securities are offered through LPL Financial, member FINRA/SIPC. Life insurance products are offered through LPL Financial or its licensed affiliates. Insurance and investment products are not FDIC insured, not bank guaranteed, may lose value, not a deposit, and not insured by any federal government agency.



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