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.”

The Blizzard of 2026 has had quite an impact on the Cape, Islands, and other parts of New England. It’s been one for the record books – which has also caused many disruptions to everyone’s normal routine. We thank you for your patience as we have worked to safely reopen our branches, Customer Assistance Center, and Operations Center for normal business operations. 

The good news is that tomorrow, Wednesday, February 25, Cape & Coast Bank will reopen most branch locations and our Customer Assistance Center. Please note the following branches will remain closed tomorrow: East Dennis, West Barnstable, East Harwich, and King’s Way. Depending on lingering conditions and continuing weather-related impacts, our opening times may be staggered. We need to allow time for our staff to ensure that each location is ready and safe to welcome you back, as we resume business as usual.

For real-time updates on branch hours and opening times, please check our website at capeandcoastbank.com for the latest information. Or call our Customer Assistance Center at 508.568.3400 or email assist@capeandcoastbank.com. We look forward to getting back to business tomorrow and our team is ready to provide the support you need.

You can also bank 24/7 through our mobile app or online banking. If you haven’t yet downloaded the app, now is a great time to explore it! The app is available for download and offers a simple, secure way to manage your accounts, make transfers or payments, deposit checks, and access a wide range of other services, all without having to leave your home.

We appreciate your understanding as we navigated these weather challenges and are thankfully on the other side of the storm. Again, many thanks for your continued trust for your banking needs.

Stay safe and take care,
The Cape & Coast Bank Team

Cape & Coast Bank, formerly The Cooperative Bank of Cape Cod, has been named one of the 2025 Best Banks to Work For by American Banker magazine. American Banker has partnered with Best Companies Group to identify banks that excel at creating positive and supportive workplaces for employees. This year 90 banks earned a spot in the ranking of Best Banks to Work For, based on an anonymous employee survey and a thorough review of the benefits and perks offered.

“We are honored to be recognized again as one of the Best Banks to Work For in the United States,” said Erik Porter, Cape & Coast Bank President and CEO. “To fulfill our mission to be the best bank for Cape Cod, our leadership team prioritizes professional development, career growth, flexibility, engagement and competitive benefits for our employees. We are also committed to supporting employee volunteer and philanthropic efforts to contribute to the success of the many nonprofit organizations serving those in need on Cape Cod.”

Cape & Coast Bank’s people-first culture promotes a healthy work-life balance, benefits that promote personal wellness and professional growth including three weeks of paid vacation in year one, paid volunteer hours, tuition reimbursement, wellness stipends, and a monthly daycare subsidy.

Additionally, the “Leading the Way” program fosters leadership development, while the annual President’s Club Lunch connects employees with the CEO to exchange ideas. Internal promotions are emphasized, and a peer-to-peer recognition program highlights contributions year-round.

“The banks recognized as Best Banks to Work For are institutions employees want to join and stay,” said Chana Schoenberger, editor-in-chief of American Banker. “They understand how to give workers reasons to find purpose in their jobs.”

Determining the Best Banks to Work For involved a two-step process. The first consisted of evaluating each participating bank’s workplace policies, practices, and demographics. This part of the process was worth approximately 25% of the total evaluation. The second consisted of employee surveys aimed at assessing the experiences and attitudes of individual employees with respect to their workplace. This part of the process was worth approximately 75% of the total evaluation. The combined scores determined the final ranking.

To be considered for participation, banks had to have at least 50 employees working in the U.S. and been in business for a minimum of one year. Best Companies Group managed the registration and survey process and also analyzed the data to determine the final ranking. 

The full list of the 2025 Best Banks to Work For is available at www.americanbanker.com and is also featured in the November issue of American Banker magazine.

Cape & Coast Bank reported strong financial growth, announced key leadership transitions, and highlighted its philanthropic impact across Cape Cod at its annual meeting for the fiscal year ending March 31, 2025.

Chief Financial Officer and Treasurer Erik Porter reported the bank reached $1.61 billion in total assets and net income of more than $4 million, reflecting continued financial strength amid economic volatility. He also highlighted solid growth across multiple areas of the business including deposits and cash management services, residential and commercial lending, and financial advisory services.

“Despite ongoing economic uncertainty, we’ve continued to grow thanks to our dedicated team and the trust of our clients,” said Lisa Oliver, Chair of the Board, President and CEO, Cape & Coast Bank. “For more than a century, the bank has supported Cape Codders and local businesses, and we will continue this support in the future. Our vision is to transform lives through the power of community banking, and we remain committed to that mission moving forward.”

Oliver, who has led the bank since 2017, earlier this year announced her retirement effective Oct. 31, 2025. During her tenure, the bank has expanded services, strengthened community ties, and achieved remarkable financial performance.

The bank also bid farewell to Gene Guill, who is retiring as Lead Director, although he will remain a bank corporator. Gary DellaPosta, a member of the bank’s Board of Directors since 2013, will assume the post of Lead Director effective immediately. DellaPosta, owner of a Falmouth-based accounting and tax advisory firm, has served as the chair of the bank’s Audit Committee for the past decade and has also held leadership roles on the Nominating and Governance, Compensation and Technology committees.

“We are profoundly grateful for the dedication and commitment Gene has provided in his bank governance role during the past eight years,” said Oliver. “His incredible business acumen, counsel and camaraderie will be greatly missed. We will be well-served moving forward with the financial industry and institutional knowledge of Gary DellaPosta.”

Philanthropy and Community Investment

During the annual meeting, the bank also reported that its corporate giving initiatives and Cape & Coast Bank  Charitable Foundation Trust combined to contribute $470,012 in philanthropic and community support funding to more than 117 local nonprofit organizations during the recently completed fiscal year. This funding supported causes such as housing access, food security, and youth development throughout the Cape.