Cambridge Trust’s Wealth Assets Decline Amid Volatility
Recent market volatility has affected Cambridge Trust Co.’s wealth management business, with the bank’s assets under management dropping by more than $640 million in the second quarter.
Personnel File – No.295
From new VPs to fresh project managers, see who’s been hired, promoted and honored: it’s The Personnel File.
John Traynor Joins Cambridge Trust
John Traynor, who spent more than a decade as chief investment officer at People’s United Bank, has joined Cambridge Trust Co. to lead its wealth management expansion in Connecticut.
Northmark Bank Had Considered Merging Last Year
Months before agreeing to merge with Cambridge Trust Co., Northmark Bank had considered merging into a different bank, and the two institutions had agreed to work exclusively on a potential deal.
Cambridge Trust to Acquire Northmark Bank
The parent company of Cambridge Trust Co. plans to acquire North Andover-based Northmark Bank in an all-stock deal valued at $63 million.
Cambridge Trust Sees Commercial Lending to Remain Strong in 2022
Despite changes to the economic and rate environment, Cambridge Trust expects to continue to see growth in commercial lending this year.
Cambridge Trust Finds Opportunity in Upheaval
As mergers and acquisitions continue to alter the region’s banking landscape, one local bank has found an opportunity amid the shakeup to expand its wealth management services into a third New England state.
Marketing Campaign Helps Drive Cambridge Trust Deposit Growth
Cambridge Trust Co. saw core deposits increase 32 percent in 2021, driven in part by a marketing campaign that the bank said took advantage of the disruption caused by the region’s merger activity.
Personnel File – No. 267
From new VPs to fresh project managers, see who’s been hired, promoted and honored: it’s The Personnel File.
Personnel File – No. 262
From new VPs to fresh project managers, see who’s been hired, promoted and honored: It’s the 262nd installment of Banker & Tradesman’s Personnel File.
Cambridge Trust Expands Wealth Services to CT With People’s Hire
Cambridge Trust Co. plans to expand its wealth management business into Southern Connecticut as the bank brings on five new employees from People’s United Bank, a sign of the type of move local banks might make amid the disruption resulting from this year’s mergers and acquisitions.
Cambridge Trust Optimistic About Loan Growth
While the deposit surge during the pandemic has left many banks dealing with more liquidity but fewer opportunities for lending, Cambridge Trust Co. remains optimistic about loan growth and continues to seek new deposits.
MHP Gets $110M Commitment from Cambridge Trust
One of the state’s two major affordable housing and homeownership finance organizations has landed a major contribution that it says will help support a range of housing priorities.
Cambridge Trust CEO Sees Limited Opportunity for M&A
With several of Greater Boston’s stock banks involved in mergers this year, Cambridge Trust Co. is ready to join in on the activity. But the bank’s leader sees few opportunities ahead.
Cambridge Trust Increases Dividend 11 Percent
Cambridge Trust Co. had first quarter net income of nearly $13.5 million, or diluted earnings per share of $1.92, compared to fourth quarter net income of $13.01 million, or diluted earnings per share of $1.86.
Local Banks Plan Stock Repurchases
The parent company of The Provident Bank, rebranded last year as BankProv, has adopted a new stock repurchase program, one of several local banks planning to repurchase shares this year.
Banks See Improvements with COVID Loan Deferrals
Massachusetts stock banks fourth quarter earnings results continue to show improvements in COVID-related loan modifications.
Thompson to Retire From Cambridge Trust
Long-time local banker and Cambridge Trust Co. President Mark D. Thompson will retire at the end of the year.
Firms Turn to Banks for Working Capital
The COVID-19 pandemic has pushed lenders into an unfamiliar space as they continue to try and meet their customers’ needs for working capital as payment cycles get disrupted.
Local Banks, Companies Join Voting Coalition
Several local banks have joined an initiative to increase voter registration and participation in the U.S.
This Week’s Newspaper
