Bank of Cape Cod last week held a ribbon-cutting ceremony for its new administrative offices and retail branch in Hyannis.

The site at 1582 Iyannough Road is the bank’s fourth branch.

"As many of you know, Bank of Cape Cod started about 10 years ago as a concept and came to reality just as the economic environment worsened," Bank of Cape Cod’s President and CEO Timothy Telman said in statement to the 40 guests attending the opening. "Bank of Cape Cod has not only successfully weathered those challenges, but has experienced record-setting growth in deposits, lending and in securing more capital for our expansion. It is truly humbling to stand here today and reflect back on our modest beginnings with 14 employees, one branch and a concept of bringing a new brand of local banking to Cape Cod. Today, we have nearly 40 employees, four branches and are assisting the Cape community in ways we had only dreamed about 10 years ago."