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Cape cod five online banking12/31/2023 ![]() ![]() It finished 2021 on a high note, reporting record net income of $49.2 million.Ĭredit quality remained pristine throughout Savarese's tenure. The Hyannis, Massachusetts, company experienced an unbroken string of annual profits during Savarese's 16 full years as CEO. Judging by income, credit quality and capital, the $4.9 billion-asset Cape Cod 5 is significantly bigger, stronger and more profitable than it was 17 years ago. "I was always conscious of that."Īs things turned out, Savarese, who stepped down as CEO in May and plans to retire from her current position as executive chairman in May 2023, did fine. "You felt the weight of responsibility for carrying this amazing community resource that had served families and businesses on the Cape through the Civil War, two world wars, through the other pandemic … into the next century," Savarese said. Founded before the Civil War, in 1855, Cape Cod 5 certainly fit the bill. One thing Savarese couldn't prepare for was the unique burden that came with leading one of the nation's most venerable financial institutions. "I got to understand every single part of the bank," Savarese said. Those efforts allowed her to acquire a near-encyclopedic knowledge of bank operations.
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