Recently released FDIC data on deposits held at banks shows that, once again, Cape Cod Five has earned the number one position in Barnstable County with 29.2 % of the deposit market as of June 30, 2013, up from 28.7% as of June 30, 2012. Cape Cod Five deposits in Barnstable County increased by $105 million to more than $1.96 billion. As a percentage, Cape Cod Five’s growth was roughly double that of the market as a whole, and Cape Cod Five’s growth represents 39.8% of Barnstable County’s overall deposit growth.
On Nantucket, the Bank also continues to show strong growth. Market share increased to 24.7 %, as of June 30, 2013 up from 19.0% as of June 30, 2012. Total deposits increased by $54.8 million to $129.8 million. Cape Cod Five captured 74.3% of Nantucket’s growth in deposit balances.
“These results reflect the emphasis the Cape Cod Five places on meeting the unique needs of the people and businesses of the communities we serve. By serving our customers each and every day with products and services that fit their needs and with a passion for high quality customer service, we continue to build on the trust placed in us,” said Dorothy A Savarese, President and CEO of Cape Cod Five Cents Savings Bank. She continued, “We are grateful for that trust and are pleased that our continuing strength enables us to reinvest in the communities we serve in a variety of manners, which is core to our mission as the leading community bank in both Barnstable County and on Nantucket.”