Orleans, MA – Cape Cod 5 remains the deposit market share leader in Barnstable County and has also seen deposit growth in other markets it serves, according to data recently released by the Federal Deposit Insurance Corporation (FDIC).
With deposit growth of $148.8 million in Barnstable County, Cape Cod 5’s market share increased from 29.9% as of June 30, 2017 to 30.5% as of June 30, 2018. On Nantucket, the Bank exceeded $250 million in deposits and maintained its position in the market; in Wareham, the Bank’s market share was 7.6%; and on Martha’s Vineyard, the Bank increased its market share from 3.0% to 4.8%, with $40.9 million in deposits as of June 30th.
“As a mutual community bank with no outside shareholders, deposit growth is the most important way that Cape Cod 5 is able to ensure the financial strength necessary to continue its mission of serving as our customers’ trusted financial partner, while contributing to the health and vitality of our communities and being a strong employer in the region,” said Dorothy A. Savarese, President and CEO of Cape Cod 5. “The collaborative efforts of the entire Cape Cod 5 team working together as One Bank have contributed to these positive results.”
About Cape Cod 5
Founded in 1855, Cape Cod 5 is an independent state-chartered savings bank with over $3.3 billion in assets. Through its 24 offices, Cape Cod 5 offers a broad range of financial products and services to customers living 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
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