
Lower Costs Improve Q4 Profits for Cambridge Trust
Cambridge Trust recorded a $2.7 million decline in non-interest, non-recurring expenses which resulted in a higher net income in the fourth quarter.
Cambridge Trust recorded a $2.7 million decline in non-interest, non-recurring expenses which resulted in a higher net income in the fourth quarter.
Eastern Bank is resolving its three troubled office loans from the third quarter of last year, plus a new non-performing real estate loan that cropped up in the fourth quarter, by selling them at a loss.
Cambridge Trust Co. reported $4 billion in assets but saw an earnings loss in the second quarter after its merger with Wellesley Bank affected expenses and the provision for loan losses.
Twelve of Boston’s biggest housing lenders will offer homeowner borrowers in the city three months or more of deferred mortgage payments if they can demonstrate they have been financially impacted by the coronavirus crisis.