About Us

On March 13, 1855, the Barnstable Patriot published a story announcing the creation of a new mutual savings bank in Harwich, Massachusetts to serve the needs of people who lived and worked in surrounding communities. Such savings institutions, the newspaper reported, are "becoming quite common in various sections of the state...and we believe this one will be most judiciously managed."

The new bank's name referenced the minimum amount required for an initial deposit to open an account. On April 29, 1856, a gentleman named John Burk made the first deposit - setting in motion over 150 years of independent banking at the Cape Cod Five Cents Savings Bank.

Deposits and transactions at the bank grew steadily, and by the early 1920's, the officers and trustees felt the need to expand the institution "to a bank capable of rendering greater service, and interested in encouraging and promoting the practice of thrift - the purpose for which the bank was originally established," notes an early history of the bank. Thus, the first branch of the Cape Cod Five was opened in Orleans, Massachusetts, in 1924.

Over the years, the Cape Cod Five continued branching out, extending its banking and community services throughout the Cape, experiencing explosive growth during the past few decades. For instance, in 1955, on the bank's 100th birthday, there were only 10 employees. Presently there are close to 350.

The Cape Cod Five's long and rich heritage is one of our greatest assets. Customers fondly recall family relationships with the bank that date back five generations and more. They appreciate the many benefits that come from such stability. Unlike most banks, the Cape Cod Five still operates under its original charter, ownership and name. We choose to remain a mutual bank because it is mutuality that, years ago, set the stage for the truest form of community banking.

Today, Cape Cod Five Cents Savings Bank has grown to be one of Cape Cod's largest banks and it's leading lender, while remaining a mutual savings bank. We are a full service community bank with 14 branches from Wellfleet to the Canal, and total assets exceed $1.9 billion-growth that would indeed please the bank's founders.