Bank of New Hampshire in Laconia has laid off 19 employees and ceased accepting applications for mortgages and other consumer loans.
“This has been in the works since this year,” Chris Logan, the $2.5 billion-asset bank’s president and CEO, told WMUR.com.
“That was done because over the past several years … the cost to originate a loan has exceeded the premiums of what she would earn on those loans,” he added.