Cape & Coast Bank Reports Strong Growth, Community Impact at Annual Meeting
Appoints New Board Members and Corporators to Guide Bank Forward Toward Digital and Operational Transformation
Cape & Coast Bank reported strong financial growth, elected six new members to its governance body and highlighted a major philanthropic impact across Cape Cod at its annual meeting for the fiscal year ending March 31, 2026.
Cape & Coast Bank President and Chief Executive Officer Erik Porter reported the bank grew its total assets to $1.67 billion – a nearly 4% increase over the previous fiscal year, substantially increased net income to $8.7 million and recorded core deposit growth of 6%. The bank also reported robust performance in commercial loan and residential mortgage originations.
Porter also outlined the bank’s strategy for its fiscal year 2027 during the annual meeting, emphasizing a strategic digital and operational transformation that places an exceptional and personalized client experience. He also discussed the organization’s strategy to enhance its position as the region’s “bank for business” by empowering businesses and their employees to thrive by providing tailored financial solutions, unmatched expertise and counsel and a commitment to innovation.
“Cape & Coast Bank continues its solid growth trajectory, even in uncertain economic conditions, which reflects the strength of our community focus and the dedication of our team of professionals, who love what they do,” said Porter. “We look forward to providing an exceptional customer experience, aligned with our mission to be the best bank for Cape Cod, as we continue to evolve and transform to meet the growing demand for digital banking products and technologies.”
The bank also announced through its corporate giving initiatives and the Cape & Coast Bank Foundation, that provided $443,390 in grants and community support to local nonprofit organizations in fiscal year 2026. These funds helped to address food insecurity, housing challenges, and access to healthcare across Cape Cod. Nonprofits highlighted during the annual meeting included Falmouth Service Center, Lower Cape Outreach Council and Duffy Health Center.
New Members Elected to Serve on Bank’s Governance Team
Three new members of the Cape & Coast Bank Board of Directors, and three new Corporators, were elected at the annual meeting.
New Directors:
- Christine Murphy, Chief Financial Officer and Executive Vice President, Barnstable County Mutual Insurance Company.
- Joel Sharmon, former partner at RSM US LLP, a leading provider of assurance, tax and consulting services.
- Christian Valle, President and Chief Operating Officer, The Valle Group, an award-winning custom home builder.
New Corporators include:
- Lee Ann Hesse, Executive Vice President and Chief Engagement Officer, Cape & Coast Bank.
- Theresa McLaughlin, Global Head of Marketing & Digital Transformation, T. Rowe Price.
- Graham Silliman, Managing Partner and Founder, Better Food LLC, a local restaurant developer and operator.
The meeting also marked the retirement of longtime Board of Directors members Nancy Garran, who served 33 years, and Chris Lynch, who served 15 years.
“I am profoundly grateful to Nancy and Chris for their years of service as members of the Cape & Coast Bank Board of Directors and the expert guidance they provided to the organization,” said Porter. “On behalf of everyone at the bank, we wish Nancy and Chris a happy and healthy retirement.”