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Bank Of Cape Cod’s Assets Increased 36 Percent In 2011

May 18, 2012 | Reprints | Print

Bank of Cape Cod saw its assets jump to $152.1 million in 2011, an increase of 36 percent, according to a statement.

The news of the increase was announced during the bank’s recent annual shareholders meeting.

Loans from the bank increased 47 percent to $118.4 million, the bank’s pre-tax earnings jumped 37 percent to $566,000, and deposits grew 39 percent to 122.6 million.

"Deposits are strong, we have robust loan demand and strong loan quality," said Telman President and CEO Timothy Telman in a prepared statement. "We have an exceptional local banking team driving business."

Looking ahead, Telman said he expected the growth to continue, with the bank continuing to capitalize on opportunities.

Banking & Lending