Cambridge Trust Sees Third Quarter Earnings Increase After Merger
In its first full quarter since merging with Wellesley Bank, Cambridge Trust Co. saw third quarter earnings increase 74.9 percent compared to the same quarter last year.
Cambridge Trust Sees Earnings Loss Following Merger
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.
Banker & Tradesman’s Editorial Cartoon: Sealed with a ‘Footshake’
In the age of coronavirus, bank merger deals have to be solemnified with a brand-new gesture.
Cambridge Trust, Wellesley OK’d to Merge June 1
Two community banks plan to go ahead with a merger even as the coronavirus pandemic has seen bank operations focus on customers affected by the economic crisis.
First Quarter Stock Market Showed in Banks’ Wealth Management Performance
As stock markets reacted to the coronavirus crisis in late February and March, community banks with investment management divisions felt the effects, with assets under management declining during the first quarter.
Wellesley-Cambridge Trust Merger the Latest Shareholder Lawsuit Target
A bank shareholder known for filing merger-related lawsuits targeted the proposed Cambridge Trust Co. and Wellesley Bank deal.
Cambridge-Wellesley Merger Opens Up Wealth Management Opportunities
When Cambridge Trust Company acquires Wellesley Bank next year, the private bank will finally have a foothold in a market close to – but just outside – its reach.
Cambridge Trust-Wellesley Bank Merger Worth $122M
Cambridge Trust Co., will pay $122 million when it acquires Wellesley Bank in an all-stock transaction. It will be Cambridge Trust’s second merger of the year.
Cambridge Trust Co. to Merge with Wellesley Bank
The holding companies for Cambridge Trust Company and Wellesley Bank have entered into an agreement in which Wellesley Bancorp Inc. will merge with and into Cambridge Bancorp in an all-stock transaction, according to a joint statement from the banks.
CECL Expected to Have Little Impact on Community Banks’ Reserves
The banking industry has been deeply concerned over the impact CECL would have on total reserves and capital. But after first quarter earnings many New England community banks expect their reserves under CECL will be the same, if not smaller, than under the current incurred model.
Personnel File
See who’s on the move in the banking and real estate industries.
Nine Months Out, Banks Moving Slowly on CECL Implementation
With less than one year to go, most public banks appear to still be in the formative stages of implementing a new nationwide accounting rule, while at the same time trying to assess its impact on their consolidated financial statements.
Personnel File
See who’s made moves in the real estate, construction and banking industries in recent weeks.
Hot Property: Park 9
Three tenants have signed leases totaling over 55,000 square feet at Park 9 in Wellesley.
Personnel File
In this week’s round up, banks and insurance groups grow their teams.
Community Good Works
Diversity is the operating word in this week’s Community Good Works, as 7 financial institutions and an insurance agency each dedicate themselves to a different cause.
Wellesley Recruits State Street Banker As New CFO
Wellesley Bancorp has tapped a former State Street...Wellesley Bank To Open Newton Centre Office
Wellesley Bank announced the opening of a new office...
