• Cape Cod 5 Reviews Accomplishments, Reports Strong Results and Welcomes New Corporators at its Annual Meeting

    PRESS RELEASE

    for The Cape Cod Five Cents Savings Bank
    FOR IMMEDIATE RELEASE: May 20, 2019
    Contact: Stephanie Dennehy for further information at 508-247-1605 or
    sdennehy@capecodfive.com

    Cape Cod 5 Reviews Accomplishments, Reports Strong Results and Welcomes New Corporators at its Annual Meeting

    Orleans, MA – In addition to reporting strong financial results for 2018, Cape Cod 5 also
    highlighted its successes in pursuing its community bank mission by expanding customer
    relationships; increasing community impacts in the region; being named one of the “Best Banks
    to Work For” by American Banker and “Top Places to Work” by the Boston Globe; and
    introducing new digital functionality, achieving strong growth for the year, at its Annual Meeting
    of the Corporators, which took place on Wednesday, May 15, 2019.

    Through its investment in online resources and new facilities, introduction of enhanced products
    and services, and a focus on service excellence, the Bank welcomed 3,400 new customer
    households in 2018. Cape Cod 5 reported net income of $24.5 million, grew assets by 6.3%,
    surpassing $3.4 billion and increased deposits, which ended the year above $2.8 billion, by 6%
    over 2017. The Bank remains well-capitalized according to all regulatory definitions. Cape Cod
    5 also reported on their efforts to support their employees as well as their extensive community
    engagement activities.

    In 2018, Cape Cod 5 welcomed new customers and communities with the opening of a second
    full-service location on Martha’s Vineyard in Edgartown, a Lending and Wealth Management
    Office on Resnik Road in Plymouth and by purchasing the future homes of a Provincetown
    Banking Center and a Barnstable Banking Center located on the grounds of their new
    headquarters on Route 132 in Hyannis which is set to open in late 2019.

    “As a values-based organization, Cape Cod 5 continues to evolve to meet the ever-changing
    needs of our customers and communities through all of our efforts including leveraging
    technology to support their financial journeys while working to protect their privacy and
    safeguard their finances. We believe our core values and commitment to our customers, local
    communities and employees is a differentiator, and enables us to serve as a trusted financial
    advisor,” said Dorothy A. Savarese, President and CEO of Cape Cod 5. “Our mission to enrich
    lives is at the forefront of everything we do, as we work to contribute to the health and vitality of
    our communities, and support the development of our dedicated employees.”

    At the meeting, Jitka Borowick of Barnstable, Benjamin W. deRuyter of Brewster, Wendy
    Harman of Martha’s Vineyard, John J. Judge of Plymouth and Penelope Frances Randolph of
    Truro were elected as new Corporators of the Cape Cod Five Mutual Company. “We are
    delighted to welcome these well-respected individuals as part of the body that oversees Cape
    Cod 5’s mission,” said Savarese.

    During the Meeting, the Bank presented its 2018 Annual Report, which is available here:
    www.capecodfive.com/2018annualreport.
     















    Photo caption:

    New Cape Cod 5 Corporators and Dorthy Savaresem President & CEO.  Pictured from L-R: Benjamin W. deRuyter, Jitka Borowick, Dorothy A. Savarese, John J. Judge, Penelope Frances Randolph; Not Pictured: Wendy R. Harman


    About Cape Cod 5
    Founded in 1855, Cape Cod 5 is an independent state-chartered savings bank with over $3.4 billion in assets. Through its 25 offices, Cape Cod 5 offers a broad range of financial products and services to customers living and working on Cape Cod, Martha’s Vineyard, Nantucket and in Southeastern Massachusetts communities. Services include consumer and commercial banking products; residential mortgages; investment management and trust services.

    Member FDIC • Equal Housing Lender • NMLS# 401717

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