More Americans Shift Money from Savings to Investment Accounts, Study Says
New research identifies a trend that helps to explain the resilience of the U.S. economy after a bout of high inflation and recent uncertainty due to tariffs.
Cambridge Savings’s Ivy Digital Bank Hits $1B in Deposits
It’s only been open for three years and already Cambridge Savings Bank’s digital arm Ivy Bank has hit a milestone it usually takes brand-new banks decades to hit.
Cape Cod Five Predicts Only ‘Modest’ Decline in 2023 Profits
The top executive at Hyannis-based Cape Cod 5 foresees a “better than expected” drop in profits for the bank this year, given the current economic turmoil pressuring all banks’ finances.
Metro Credit Union Scooped Up $200M in Deposits from Spring Bank Failures
Metro Credit Union said it was one of the financial institutions able to grab depositors from the spring bank failures in March, taking in more than $200 million in deposits.
Lenders Use CDs to Play Deposit Defense
Faced with pressure to pay higher rates, banks and credit unions are turning to special offers – with rates sometimes 3 percent or higher – to lock in deposits.
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.
Mass. Lenders Struggle with Second Year of Deposit Surge
Eighteen months into the pandemic, the influx of deposits continues. But many lenders are struggling to match this cash with loan growth, creating concern for the coming quarters.
Pandemic Gives Local Lenders Opening in CRE Financing
As economic conditions improve and interest rates remain low, commercial real estate has provided lenders with opportunities for growth and new relationships with developers.
Deposit Surge Continued in Fourth Quarter
Massachusetts banks saw the pandemic-induced deposit surge continue in the fourth quarter, as the year ended with a 25 percent increase in deposits compared to 2019.
Banker & Tradesman’s Editorial Cartoon: Cash Angels
There are more things you can do with a big pile of cash than make “snow angels.”
Lenders Seek Outlets for Capital as Deposits Build Up
Even as the pandemic shuttered businesses and led Massachusetts to the highest unemployment rate in the country, billions of dollars flowed into the state’s banks.
Bank Deposits Up 21 Percent at Mass. Banks, Thanks to COVID
Eastern Bank edged ahead of Rockland Trust Company as the Massachusetts-based community bank holding the most deposits, according to the FDIC’s annual Summary of Deposits survey.
