Next week, the Newburyport-based Institution for Savings Educational School Bank will officially open at Triton Regional High School in Byfield, for the first day of school.

The bank, which was approved by the Triton School Committee last spring, replaces a former bank branch run by a large regional bank whose contract expired last spring. The full-service bank, which received a facelift over the summer, is located off the main entrance to the school and is ready for business, according to bank President and Chief Executive Officer Mark Welch.

“We’ve been invested in Triton for a number of years; this new Educational School Bank now allows us to take that partnership to a new level,” said Welch. “School banks like this one, as well as the one that we already run at Ipswich High School, can equip high school students with a sense of financial literacy and at the same time impart some very simple but important financial truths that will hold them in good stead throughout their lives.”