BSB Bancorp, Inc., the holding company for Belmont Savings Bank, announced Wednesday, Feb. 8, a partnership with Shaw’s Supermarket to open an in-store branch at Shaw’s location at 1070 Lexington St. in Waltham.

The target opening of May 1 is scheduled for the new in-store branch. 

The branch will have five staff members, a business banking officer, two ATMS and a night deposit drop off for businesses.

The branch will be open six days per week with extended hours: Monday – Friday, 10 a.m. to 7 p.m., Saturday, 10 a.m. to 5 p.m.

The branch marks the Belmont bank’s first expansion in a decade and the bank’s first Waltham branch.

During the bank’s conversion from a mutual bank to a stock-ownership holding company this past summer, branch growth was listed in the bank’s prospectus. The Waltham announcement continues the bank's planned expansion of its branch network, bringing a total of five branches in the Belmont-Watertown-Waltham area.

Opening an in-store supermarket branch is the latest in a series of announcements by Belmont Savings to provide customers with increased convenience and technology competitive with the largest banks. Previous announcements include the launch of online banking, mobile banking and bill pay services.

“We are proud to be partnering with Shaw’s Supermarket, and bringing The Belmont Savings Platinum Blue Relationship Banking program to Waltham,” said Bob Mahoney, president and chief executive officer of Belmont Savings.

“In today’s world, convenience and technology matters, and that is why we’ve been able to grow - we combine local service with all the same online banking of a large bank, allowing our customers to bank with us when and where it works for them.”

“A key component of Belmont Savings Bank’s growth has been its partnerships with community businesses. In doing our first partnership with Shaw’s, we will be able to reach to 16,000 potential prospects each week,” said Hal Tovin, Belmont's chief operating officer and one of the pioneers behind the in-store branch program while at Citizens Bank.

Belmont Savings Bank is a $680 million, full-service community mutual bank dedicated to quality, convenience, and personalized service.