Exhibit 21 - Subsidiary - Ipswich Savings Bank

                                                                                  Percentage
                                                          Year                     of Voting
                             Jurisdiction              Acquired or                Securities
Name of Subsidiary         of Incorporation              Formed                      Owned
- ------------------         ----------------             --------                    -------
                                                                               
Ipswich Savings Bank        Massachusetts                1999                        100%



                                       81