Release date: May 1, 2023

With the much anticipated news of First Republic’s regulator-assisted sale to JP Morgan being announced early this morning, we feel compelled to once again reach out as your financial partner to assure you of the continued soundness of Cape Cod 5 and the safety of your deposits with us. 

As a mutual bank with no outside shareholders, Cape Cod 5 takes a long-term view with respect to strategic positioning and risk management. This means it operates very differently and serves a much more diversified customer base than the banks that have been impacted by the turmoil within the industry over the past couple of months. It is because of our prudent balance sheet management practices that we are able to withstand periods of uncertainty and remain resilient, so that we can continue to be here to serve our customers and communities – just as we have every day since 1855. In short, we’re here to serve you for the long-term.  

To underscore this, we recently shared in a communication to you that Cape Cod 5’s total deposits were up 2.3% during the first quarter of 2023, significantly outpacing national deposit levels, which saw a decline. On top of that, the Bank’s capital position and asset quality are strong. 

Thank you for trusting us as your financial partner. We hope to continue that relationship well into the future. And as always, we want you to feel confident banking with Cape Cod 5. Our team is available to answer any questions you may have. Reach out to us at any time – we’re here to help.  


Matt Burke signature


Matt Burke, Chief Executive Officer

Click here to view Cape Cod 5's message regarding banking industry news released on March 13, 2023

The news from the banking industry over the past week and the resulting market volatility has been understandably disconcerting. As your trusted financial partner, we are reaching out to share information and, most importantly, to assure you that your deposits with Cape Cod 5 are safe and that this news does not impact Cape Cod 5 or our operations. 

Cape Cod 5’s financial strength and stability means you can have confidence in our soundness and resilience. We have been operating since before the Civil War and have weathered many events since then, including recessions and the Great Depression, and we intend to continue serving our customers and communities well into the future. Cape Cod 5’s conservative balance sheet management, strong capital position, diverse deposit base and experienced leadership team position us well to withstand the stress of environments like we are facing today – and also make us markedly different than the institutions that have been in the news recently.
All deposits with Cape Cod 5 are insured by the FDIC up to $250,000 per depositor per account ownership category. Federal Deposit Insurance Corporation (FDIC) deposit insurance is backed by the full faith and credit of the United States government. Since the FDIC was established, no depositor has ever lost any FDIC insured funds. More details on FDIC coverage can be found on the organization’s website and on Cape Cod 5’s website at  
For depositors with funds in excess of $250,000, options to fully insure balances include restructuring your deposits into different ownership groups (such as joint, individual or retirement) to qualify for additional insurance or participate in the Bank’s Insured Cash Sweep program. Contact us to learn more – we’re here to help.   

Further, Cape Cod 5 has received the “Superior” 5-star rating by Bauer Financial, an independent rating agency, for over 30 consecutive years. Bauer rates and recommends financial institutions based on their financial health and performance. For more information, visit the Bauer Financial website.  

As Cape Cod 5 marks its 168th birthday this week, we know that we have only been able to carry out our mission for so long because of the trust our customers place in us. We are proud to continue to serve the community banking needs of individuals and businesses on Cape Cod, the Islands and in Southeastern Massachusetts.

Thank you for choosing Cape Cod 5 as your trusted financial partner. If you have any questions, please do not hesitate to reach out to your relationship banker, visit a Banking Center, or call us at 888-225-4636. We are here for you.

Matt Burke, CEO

Matt Burke, Chief Executive Officer

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