Passumpsic Bank and the Art of Partnership

By Mike “Sully” Sullivan

A perfect partnership is rare. It takes compatible personalities, shared goals and similar values. It can’t be forced or manufactured, so when it happens, there’s an energy that feels electric. Jim Kisch felt it the moment he first visited Vermont’s Northeast Kingdom in the summer of 2016, when he interviewed to become Passumpsic Bank’s next President and Chief Executive Officer. The stunning scenery and natural beauty of the region is on full display during the drive to St. Johnsbury, where the bank’s corporate headquarters are located. But what really got to Kisch was his walk downtown.

“There was an immediate connection,” he said. “What I didn’t anticipate was the uniqueness of the area. You couldn’t get a sense of St. Johnsbury or the surrounding regions from Google searches. It’s a gem. I saw the potential.”

Kisch quickly developed a vision as ambitious as it is aspirational.

“We’re more than a community bank,” he said. “Our story is bigger than that. We want to motivate people to join us in making a long-term commitment to improving the social and economic growth of Vermont’s Northeast Kingdom, Central Vermont and New Hampshire’s North Country.”

That vision sounds more like a movement, and it seems to be working. Members of the community are not just taking notice, they’re sharing that vision.

Brendan Hughes, president of St. Johnsbury Distillery in St. Johnsbury, Vermont, not only shares it, in some ways he is the vision. 

Hughes grew up in the area, left for college and then came back in 2017 to start the distillery. Previously a successful distillery called “Dunc’s Mill,” today the spirits are part of a larger offering still located in the heart of downtown St. Johnsbury. The setup includes a tasting room, as well as a popular dinner restaurant called the “Prohibition Kitchen.” Hughes and his business have become a pillar of the local economy, and according to Kisch, there is plenty of room for more.

“Our goal is to inspire young people from this area who have left for college to come back and settle here,” he said. “Be a part of this movement. We can all help to transform these regions into a lifelong destination, not just a place where people come for a family visit.”

That movement is exactly what Hughes wants to be a part of.

“Passumpsic Bank works as a catalyst for this area,” Hughes said. “St. Johnsbury looks completely different than even five years ago.”

Hughes gives a lot of credit to the partnership with Passumpsic for the success the distillery has had. 

“Our mission and goals align really well with Passumpsic Bank,” Hughes said. “We have similar goals for the economics of the area. We want to help create jobs.”

The relationship is more than banking products and services, though.

“I don’t just see them from a business aspect, it’s really about the relationships we have,” Hughes said. I see them every other day, whether it’s around town, here with their families, at charity events. “Everyone from the bank is on the same mission.”

With partnership comes great potential

Kevin Fontecha, owner of 98 Mill Italian Pub & Grill, a popular restaurant in a 150-year-old, refurbished mill building in St. Johnsbury, sees the vision and shares in the mission. And like Hughes and the distillery, his business has become an integral part of it.

“This town really needed this,” Fontecha said. “It’s a place where you walk in, talk and laugh, you see your neighbors. Passumpsic Bank helped create that. I don’t think they get enough credit.”

Fontecha isn’t shy about praising Passumpsic’s efforts in helping to make his restaurant the community staple it has become, especially considering the timing. 

“Original projections went haywire with supply and demand because of the pandemic,” he said. “But Passumpsic stood by me. I don’t think this would have happened without that relationship and that trust. You’re not just a number, you’re a face, a person. I see these people around town, there’s a real relationship there.”

That real relationship isn’t contrived, either. 

“We really meet people wherever they’re at,” Kisch said. “Start your adventure isn’t just our tagline, it’s a reality for us. We really connected with Kevin, and our achievement and satisfaction is rooted in the success of the people we serve.”

When Fontecha looks around Northern New England, he sees great potential. He recently opened the St. Johnsbury Country Store & Deli, and owns the Mooselook Diner in Concord, VT. When it comes to partnering with the right community bank, he says there is only one partner.

“Passumpsic Bank is very easy to work with,” he said. “They’re easy to get a hold of, and they’ll meet you right there where you need to be.”

It’s a perfect-partnership thing.

Partners of a feather succeed together

Marlaina Renton and Ian Dowling, owners of Rek’-Lis Brewing Company in Bethlehem, N.H., are experts in partnerships. Not only are they partners in business, they’re partners in life. They even complete each other’s sentences.

One interaction with them and you get the sense that the business works because of their relationship. Rek’-Lis also works because it has the right financial partner.

“Without Passumpsic Bank, we wouldn’t be here,” Renton said. “They care about the same things we care about,” Dowling added.

“Starting a business from the ground up takes courage, commitment, and ingenuity,” said Kisch. “Marlaina and Ian followed their partnership, they followed their hearts. They have persevered and they are growing.”

Growing might be an understatement.  

“We went from selling beer in a shed to becoming far more than we ever imagined,” Renton said. 

Today, it’s a bustling brewery, popular restaurant, and super-cool gathering place for family, friends, visitors and anybody who appreciates good people and a great product in a beautiful Northern New England kinda spot. But more than all that, Rek’-Lis is a place where the crew and customers are appreciated and supported. Because of that, Passumpsic Bank’s accessibility, presence and support have been the perfect recipe for Renton and Dowling.

“Anytime we need money for upgrades, equipment, or construction, Passumpsic’s been there for us,” Dowling said. “It’s a really good partnership.”

There’s that partnership theme again. It surfaces a lot with Renton and Downling. When it comes to Rek’-Lis, Passumpsic Bank has been that kind of partner. 

“Passumpsic is invested in the community, so they’re invested in us,” Dowling said.

The Rek’-Lis pair shared an exciting development, too. With the great success of their Bethlehem location, they’re looking at creating another brewery and restaurant experience in North Conway. 

“We’re going through this together,” Renton said with pride and excitement in her voice. 

She could have meant Dowling and she could have meant Passumpsic Bank; she probably meant both. Perfect partnerships are just like that.

Passumpsic Bank
800-370-3196
passumpsicbank.com