Release Date: November 9, 2017
Orleans, MA – Cape Cod Five continues to be the deposit market share leader in Barnstable County, according to data recently released by the Federal Deposit Insurance Corporation (FDIC). As of June 30, 2017, Cape Cod Five held 29.9% market share, including a deposit base increase of $96.2 million, or 4.4%, year over year. The Bank also experienced deposit growth on Nantucket, Martha’s Vineyard and in Wareham.
“Our employees’ efforts and dedication to earning our customers’ trust are reflected in the growth the Bank has seen over the past year,” said Dorothy A. Savarese, President and CEO of Cape Cod Five. “This growth is an important indicator of our continued ability to effectively meet the evolving needs of our customers and to deepen the meaningful relationships we hold with them.”
On Nantucket, Cape Cod Five’s deposit market share grew to 30.6%, an increase of 10.8% year over year, while maintaining its number two position. The Bank also increased its deposit market share in Wareham from 6.8% to 9.0% and on Martha’s Vineyard from 0.2% to 3.0%.