Release date: October 15, 2021
Hyannis, MA - For the tenth consecutive year, Dorothy A. Savarese, Chair and CEO of Cape Cod 5, has been named one of the 25 Most Powerful Women in Banking by American Banker.
Honorees are recognized for their professional achievements, their influence in the financial services industry, the strength of the institutions they serve and their ability to find new opportunities amid the pandemic and recovering economy. Among Savarese’s accomplishments, American Banker highlighted Cape Cod 5’s ongoing commitment to Diversity, Equity and Inclusion (DEI) in all aspects of its business as well as several ways the Bank has demonstrated leadership in the area of Environmental Stewardship. Both of these efforts have long been cross-cutting goals for the Bank.
“I attribute this recognition to the strength and reputation of Cape Cod 5, which each and every one of our employees has worked together to build,” said Savarese. “It is an honor to be considered among this list of accomplished women and represent Cape Cod 5 as a purpose-driven, leading community bank that is committed to the financial health and wellbeing of our customers, communities and employees.”
Savarese's roles at the federal, regional and state levels were also featured, including her appointment to a second term as president of the Federal Reserve Board’s Community Depository Institutions Advisory Council in 2021. American Banker highlighted how the council has played an important role in helping the Federal Reserve understand the impact of the COVID-19 pandemic and response programs such as the Paycheck Protection Program, through which Cape Cod 5 enabled over 3,700 businesses to secure more than $318 million in critical funding, saving over 26,000 local jobs and making the Bank the 13th largest PPP lender in Massachusetts.
The full list, including profiles of all the honorees for 2021, appears on American Banker’s website here: www.americanbanker.com/women-in-banking.
About Cape Cod 5
Founded in 1855, Cape Cod 5 is a community bank with over $4.8 billion in assets. Through its 26 offices, Cape Cod 5 offers a broad range of financial products and services to customers living and working on Cape Cod, Martha’s Vineyard and Nantucket and in Southeastern Massachusetts communities. Products and services include consumer and commercial banking products; residential mortgages; investment management and trust services. Member FDIC. Equal Housing Lender. NMLS #401717.