October 16, 2018
Orleans, MA – Cape Cod 5 remains the deposit market share leader in Barnstable County and has also seen deposit growth in the 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."