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The bank has grown from its initial $5 deposit in 1851 to having over $310 million in assets under management.
A total of 19 Norwalk-based nonprofit groups receive funding to support programs for children, teens and families.
The funding will go toward the the Greenwich Alliance for Education's Going Places with Books program, which serves low-income preschoolers.
Karen M. Kelly will replace Katherine A. Harris at the charitable arm of the Stamford-based bank.