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Comment period open regarding bank branch closures

BANK OF CAPE COD, Hyannis, Massachusetts, and ROCKLAND TRUST COMPANY (ROCKLAND TRUST), Rockland, Massachusetts have petitioned the Division of Banks (Division) for several approvals in connection with a multi-step transaction.  ROCKLAND TRUST is seeking approval for BANK OF CAPE COD to merge with and into ROCKLAND TRUST.  This multi-step transaction includes the acquisition of NEW ENGLAND BANCORP, INC., Bank of Cape Cod’s holding company, by INDEPENDENT BANK CORP., Rockland Trust’s holding company.  As part of this merger transaction, BANK OF CAPE COD has petitioned to close its banking offices located at: (1) 1582 Iyanough Road, Hyannis; (2) 232 Main Street, Hyannis; and (3) 445 Main Street, Falmouth.

Any objections or comments relative to these proposals must be communicated in writing to the Commissioner of Banks, 1000 Washington Street, 10th Floor, Boston, Massachusetts 02118 no later than August 3, 2016.  A public hearing may be held if the response is considered significant or circumstances warrant such a hearing, as determined by the Commissioner.  The applications and all communications relative to these applications will be available for public inspection at the Division of Banks.

David J. Cotney

Commissioner of Banks                  

 

Students showcase talent at bank art exhibit

The beauty, simplicity and peacefulness of nature are captured in a student art exhibit currently on display at Bank of Cape Cod in Falmouth.

The work showcases the talents of students from Falmouth High School and Boston Arts Academy. The two schools worked collaboratively to observe nature and birds in conservation lands. The partnership was the brainchild of Jane Baker, Falmouth High School studio art teacher, as well as Kathleen Marsh and Barrington Edwards of Boston Arts Academy.

Through a grant from the Falmouth Education Foundation, Baker’s students traveled to Peterson Farm in Falmouth for plein air studies of open space, paying particular attention to the birds that live in the surrounding field and tress.  Baker said students learned from members of the 300 Committee Land Trust that open-space is crucial to maintaining a sustainable bird habitat.  The Falmouth Education Foundation then provided for the students to travel to Harvard Museum of Natural History to draw birds specific to Peterson Farm in their collection.  Students from Boston Arts Academy joined Falmouth there to work on artworks inspired by birds and their local conservation lands (the Emerald Necklace). 

From these varied experiences the FHS students in AP and Advanced Studio Art created landscapes in charcoal, acrylic and oil.  They also created owls and birds specific to the farm using ink pen, watercolor, etching, linocut, and cut paper.  The Boston Arts Academy students also created interpretations of flight using screen-printing. 

“It is our hope that this gallery of birds and the woods they inhabit will inspire viewers to think for a moment about the fragility of the open spaces around them and the preservation of birds within those field and thickets,” Baker said.

Bank of Cape Cod provided a grant for the program to furnish a bus so that Boston Arts Academy and Falmouth High students could tour Falmouth and visit where their artwork is on display, including at Historic Highfield Hall and Gardens and the bank’s branch at 445 Main Street.

“It was terrific to see the bus arrive at our branch and see all these enthusiastic students emerge to see the exhibit and celebrate with a lunch reception,” said Mark Skala, vice president of marketing and community relations at the bank. “It is an impressive collection of talent and we are so proud to help showcase these gifted students.”

The exhibit will be on display at the bank until late June.

Boston-Falmouth art exhibit
  Falmouth High School student Michael Mangalo stands next to his art on display at Bank of Cape Cod's 445 Main Street, Falmouth, branch. 

Sexton honored as Community Bank Hero

Mark SextonMark Sexton, Executive Vice President and Chief Lending Officer at Bank of Cape Cod, has been named a Community Bank Hero by the Warren Group and Banker & Tradesman. Community Bank Hero is an annual award that honors achievement, commitment and dedication of financial professionals who go above and beyond for their institutions and community.

Sexton’s active involvement in numerous community organizations and commitment to a 35-year banking career made him a standout for the award, which he will receive along with 11 other honorees on May 19 at a ceremony in Boston. The honorees being acknowledged had to meet several criteria, including someone who consistently gives back to the banking industry and the community “giving freely of their time, energy and resources for volunteerism, community service and charity,” Banker and Tradesman noted.

 A resident of Hyannis, Sexton is involved in many organizations, including serving as a member of the Hyannis Main Street Business Improvement District board of directors; treasurer of the JFK Hyannis Museum; director of Coastal Community Capital; treasurer for the James Dunn scholarship in honor of a former town of Barnstable Police Officer; and past commodore of the Hyannis Yacht Club. He has also been an advocate on behalf of many area organizations such as A Baby Center, United Way, Wounded Warriors, Sail Cape Cod, and Figawi charities, among others.

“I’m honored to receive this award,” said Sexton. “I am a huge believer in giving back and helping out in the community. I believe that the measure of a person's life is the affect they have on others.”

Bank of Cape Cod President and CEO Timothy T. Telman said this is a well-deserved honor for Sexton.

“Mark cares deeply about his community and has worked tirelessly to offer his time, treasure and talent wherever he has been asked,” said Telman, who was honored with the Community Bank Hero honor last year. “Mark is the embodiment of community banking.”

 

Rockland to keep Osterville branch open

Rockland Trust has announced that the Bank of Cape Cod’s branch in Osterville at 57 West Bay Road will remain open after the merger of the two institutions is completed. The Osterville location will join Rockland Trust’s 12 branches on Cape Cod, located in Bourne, Centerville, Chatham, Falmouth (3), Hyannis, Mashpee, Orleans, Sandwich, South Yarmouth, and West Dennis.

“At Rockland Trust we’re committed to supporting the communities on Cape Cod and determined that keeping the ...branch in Osterville will strengthen our ability to serve consumers, families, and businesses in the area,” said Christopher Oddleifson, President and CEO of Rockland Trust. “We’re delighted to add Osterville to our branches on the Cape and are excited to deepen our relationship with a community we already call home.”

On March 17, 2016, Rockland Trust announced the signing of a definitive agreement to acquire Bank of Cape Cod. The merger is expected to close in the fourth quarter of 2016. For their convenience during the transition, all Bank of Cape Cod customers can now use any of Rockland Trust’s ATMs throughout Massachusetts for cash withdrawals and balance inquiries free of charge.

Independent Bank Corp., New England Bancorp enter merger agreement

Independent Bank Corp. (NASDAQ: INDB), parent of Rockland Trust Company, and New England Bancorp, Inc., parent of Bank of Cape Cod, have signed a definitive merger agreement for Independent to acquire New England Bancorp and Rockland Trust to acquire Bank of Cape Cod.

Under the merger agreement each share of outstanding New England Bancorp common stock will be exchanged for 0.25 of a share of Independent common stock. 

 “We welcome the opportunity to join Bank of Cape Cod with Rockland Trust,” said Christopher Oddleifson, President and Chief Executive Officer of Independent Bank Corp. “Our banks both focus on making commercial loans without compromising credit quality. We expect that this acquisition will be accretive to 2017 earnings, increase Rockland Trust’s Cape Cod market share, and benefit our shareholders.”

“We are extremely pleased to join Rockland Trust, a growing bank with a terrific brand,” said Timothy Telman, President and Chief Executive Officer of Bank of Cape Cod. “This transaction is in the best interests of our shareholders and will be good for our customers, who will enjoy the greater range of products and services that Rockland Trust offers and the convenience of Rockland Trust locations across Eastern Massachusetts.”

Bank of Cape Cod was founded in 2006 and currently has four Barnstable County bank branches, approximately $214 million in deposits, and approximately $229 million in loans.

Independent anticipates issuing approximately 660,000 shares of its common stock in the merger and will cash out any New England Bancorp warrants or options that remain outstanding at the effective time of the merger. Based upon Independent's $45.65  per share closing price on March 16, 2016 the transaction is valued at approximately $30.7 million.  The transaction is intended to qualify as a tax-free reorganization for federal income tax purposes and to provide a tax-free exchange for New England Bancorp shareholders.

Independent anticipates that the acquisition will be approximately $0.05 accretive to 2017 operating earnings, primarily driven by consolidation efficiencies. Independent estimates that the transaction will generate an internal rate of return of about 20 percent and expects the transaction will be neutral to tangible book value per share.  One-time expenses attributable to the merger are expected to be approximately $3 million after tax in 2016. 

 The boards of directors of each company have unanimously approved the transaction. The transaction is subject to certain conditions, including the receipt of required regulatory approvals, approval by New England Bancorp shareholders, and other standard conditions. Independent shareholders do not need to approve the merger.  The parties anticipate that the closing of the transaction will occur in the fourth quarter of 2016.

New England Bancorp’s directors and certain executive officers, who currently own about 17.8 percent of New England Bancorp’s outstanding shares in the aggregate, have signed voting agreements pursuant to which they have agreed to vote their shares in favor of the merger.

Independent used Day Pitney LLP as its legal counsel and received a fairness opinion from Keefe, Bruyette & Woods. New England Bancorp was advised by Piper Jaffray & Co. and used Luse Gorman, PC as its legal counsel.

About Independent Bank Corp.

Independent Bank Corp., which has Rockland Trust Company as its wholly-owned commercial bank subsidiary, has $7.2 billion in assets.  Rockland Trust offers a wide range of commercial banking products and services, retail banking products and services, business and consumer loans, insurance products and services, and investment management services. To find out why Rockland Trust is the bank “Where Each Relationship Matters®”, visit www.RocklandTrust.com.

About New England Bancorp., Inc.

New England Bancorp, Inc. has $260 million in assets and is the holding company for Bank of Cape Cod.  Bank of Cape Cod is a full-service community bank that offers a variety of deposit products and makesmortgage loans for the construction, purchase, and refinancing of residential and commercial real estate as well as other commercial and consumer loans of various types. The Bank of Cape Cod operates four full-service offices in the Massachusetts communities of Hyannis, Falmouth and Osterville.

Additional Information and Where to Find It

In connection with the proposed merger, Independent Bank Corp. intends to file with the Securities and Exchange Commission   (the “Commission”) a Registration Statement on Form S-4 containing a proxy statement of New England Bancorp, Inc. and a prospectus of Independent Bank Corp.  This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval. Investors and security holders are advised to read the proxy statement/prospectus when it becomes available because it will contain important information.  Investors and security holders may obtain a free copy of the registration statement (when available), including the proxy statement/prospectus and other documents filed by Independent Bank Corp. with the Commission at the Commission’s web site at www.sec.gov.  These documents may be accessed and downloaded, free of charge, at Independent Bank Corp.’s web site at www.RocklandTrust.com under the tab “Investor Relations” and then under the heading “SEC Filings” or by directing a request to Investor Relations, Independent Bank Corp., 288 Union Street, Rockland, Massachusetts 02370, telephone (781) 982-6737.

Participants in the Solicitation

This communication is not a solicitation of a proxy from any security holder of New England Bancorp, Inc. However, Independent Bank Corp., New England Bancorp, Inc., their respective directors and executive officers and other persons may be deemed to be participants in the solicitation of proxies from shareholders of New England Bancorp, Inc. in respect of the proposed transaction. Information regarding the directors and executive officers of Independent Bank Corp. may be found in its definitive proxy statement relating to its 2015 Annual Meeting of Shareholders, which was filed with the Commission on March 30, 2015 and its Annual Report on Form 10-K for the year ended December 31, 2015, which was filed with the Commission on February 25, 2016, each of which can be obtained free of charge from Independent Bank Corp.’s website. Information regarding the directors and executive officers of New England Bancorp, Inc., the participants in the proxy solicitation and a description of their direct and indirect interests, by security holdings or otherwise, will be contained in the proxy statement/prospectus and other relevant materials to be filed with the Commission when they become available.

Forward Looking Statements

This press release contains certain “forward-looking statements” with respect to the financial condition, results of operations and business of the Independent Bank Corp. (the “Company”). These statements may be identified by such forward-looking terminology as “expect,” “achieve,” “plan,” “believe,” “future,” “positioned,” “continued,” “will,” “would,” “potential,” or similar statements or variations of such terms.  Actual results may differ from those contemplated by these forward-looking statements.

Factors that may cause actual results to differ materially from those contemplated by such forward looking statements include, but are not limited to:

  • a weakening in the United States economy in general and the regional and local economies within the New England region and the Company’s market area;
  • adverse changes in the local real estate market;
  • acquisitions may not produce results at levels or within time frames originally anticipated and may result in unforeseen integration issues or impairment of goodwill and/or other intangibles;
  • changes in, trade, monetary and fiscal policies and laws, including interest rate policies of the Board of Governors of the Federal Reserve System;
    higher than expected tax rates and any changes in and any failure by the Company to comply with tax laws generally and requirements of the federal New Markets Tax Credit program;
  • unexpected changes in market interest rates for interest earning assets and/or interest bearing liabilities;
  • adverse changes in asset quality including an unanticipated credit deterioration in our loan portfolio;
  • unexpected increased competition in the Company’s market area;
  • unanticipated loan delinquencies, loss of collateral, decreased service revenues, and other potential negative effects on our business caused by severe weather or other external events;
  • a deterioration in the conditions of the securities markets;
  • our inability to adapt to changes in information technology;
  • electronic fraudulent activity within the financial services industry, especially in the commercial banking sector;
  • adverse changes in consumer spending and savings habits;
  • our inability to realize expected revenue synergies or cost savings from the acquisition of New England Bancorp in the amounts or in the timeframe anticipated;
  • our inability to retain customers and key employees of the Bank of Cape Cod;
  • our inability to successfully integrate the Bank of Cape Cod or that such integration will be more difficult, time-consuming or costly than expected;
    our inability to obtain regulatory approval of the merger in the time-frame expected;
  • the effect of new laws and regulations regarding the financial services industry;
  • changes in laws and regulations (including laws and regulations concerning taxes, banking, securities and insurance) generally applicable to the Company’s business;
  • changes in accounting policies, practices and standards, as may be adopted by the regulatory agencies as well as the Public Company Accounting Oversight Board, the Financial Accounting Standards Board, and other accounting standard setters; and,
  • other unexpected material adverse changes in our operations or earnings.
     

The Company wishes to caution readers not to place undue reliance on any forward-looking statements as the Company’s business and its forward-looking statements involve substantial known and unknown risks and uncertainties included in the Company’s Annual Report on Form 10-K and Quarterly Reports on Form 10-Q (“Risk Factors”).  Except as required by law, the Company disclaims any intent or obligation to update publicly any such forward-looking statements, whether in response to new information, future events or otherwise.  Any public statements or disclosures by the Company following this release which modify or impact any of the forward-looking statements contained in this release will be deemed to modify or supersede such statements in this release. In addition to the information set forth in this press release, you should carefully consider the Risk Factors.

  

Space at bank's Main Street location new home to arts group

The Arts Foundation of Cape Cod will be relocating to its new home at 232 Main Street, Hyannis, in space provided by a partnership with Bank of Cape Cod.

Timothy T. Telman, President and CEO of Bank of Cape Cod, announced recently that the bank is offering space at its Main Street location and making it available for lease to the AFCC. Telman said the move has no impact on the full-service branch operations at the location.

The foundation, a non-profit organization promoting arts and culture on Cape Cod, has been housed for many years on the Cape Cod Chamber of Commerce campus on Shoot Flying Hill Road in Centerville.

“This arrangement is something we have given careful thought to and one that will benefit the bank as well as the East End of Main Street, and more importantly, the Arts Foundation as that organization continues to grow and increase its visibility on Cape Cod,” said Telman. “We are delighted to be partnering with the Arts Foundation.”

Telman said space became available at 232 Main Street when the bank’s corporate offices moved to 1582 Iyannough Road, Hyannis, in 2014. He said many options for the space were considered before offering it to the Arts Foundation.

“The location is one of our most successful and busiest branches and ensuring that we continue to provide an exceptional customer experience is our first priority,” Telman said. “We feel the Arts Foundation’s mission of fostering and promoting the cultural economic well-being of Cape Cod fits well with our own goals. At the same time, we are helping the AFCC and the Hyannis Main Street area by offering space to this dynamic organization.”

Julie Wake, executive director of the AFCC, said her team is eagerly awaiting the move, which should take place by March 1.

“We are incredibly grateful to Bank of Cape Cod for helping us,” Wake said. “We look forward to participating in and engaging with other Main Street businesses and adding to the vibrant cultural hub.”

The AFCC will have its own dedicated entrance on the right side of the bank parking lot and visible signage in partnership with Bank of Cape Cod.

 Elizabeth Wurfbain, executive director of the Hyannis Main Street Business Improvement District, said her organization is “thrilled” to have the AFCC move to the area. The BID has been working with businesses, town leaders and other groups to enhance and improve Main Street as a destination.

 “Julie and her team will bring great synergy to Main Street, and with the new streetscape improvements coming to the East End, it is perfect timing,” Wurfbain said, noting the town has approved funding to continue enhancements of the area in keeping with the rest of Main Street. “We are the premier arts and entertainment district on Cape Cod, with more than 50 restaurants, museums, theater and art galleries, and it is perfect the AFCC will bring their office into the center of the activity.”

  

Flynn joins residential lending team

Claire FlynnClaire Flynn, a veteran of the mortgage industry, has joined Bank of Cape Cod’s residential lending team.

Flynn has more than 30 years of experience in the mortgage field, working primarily in the Central Massachusetts area. She moved to Sandwich fulltime last year after vacationing here for many years.

 “I have a longtime, special relationship with the Cape, having spent every summer here while growing up and then bringing my own family here,” Flynn said. “I’m thrilled to be working here and look forward to helping people realize their dream of home ownership, especially first-time buyers.”

Timothy T. Telman, President and CEO of Bank of Cape Cod, said he is pleased to have someone of Flynn’s experience and expertise join the bank’s growing residential lending team.

Flynn said her customers can count on her experience, passion for the business and reputation for communicating with home buyers throughout the entire process. “It is about the relationship that inspires me to do my very best for people,” added Flynn.

In her spare time, Flynn and her husband Jim enjoy golf and sailing. In fact, they recently purchased a Fisher Cat and are eager for its maiden sail as soon as the weather permits.

 

Photographer exhibits at bank's Falmouth branch

Christy Lynch of Falmouth is what you would definitely describe as a people person. That characteristic is evident in her career as a stylist at Headlines Salon and Day Spa and in her passion – photography.

Her interest in and love of people comes through loud and clear in her current exhibit of photographs on display at Bank of Cape Cod’s 445 Main Street, Falmouth, branch. The images include candid shots of family and friends, more formal pictures of weddings, and the determination and grit of Crossfit training and youth football.

Lynch, a wedding and portrait photographer, has spent the past 25 years perfecting her craft. She’s also an avid sports fan, and that has added to her portfolio of pictures.

“I’ve always enjoyed a candid, behind-the-scenes approach, and always thought it would be fun to be an investigative photographer,” said Lynch, who grew up in the South and moved to New England after her freshman year of college. “But this year some opportunities became available to me that have challenged me and broadened my vision. Growing up with sports and having parents as coaches, it seemed like a natural thing to be photographing. It absolutely seems right.”

Lynch’s exhibit will be on display through March at Bank of Cape Cod.

Christy Lynch

Christy Lynch and her son, Dennis, at the reception recently for her exhibit.

New video highlights commercial lending partnerships

Bank of Cape Cod has released its latest video featuring the commercial lending team and customer Heritage Sands of Dennisport. The video will be used on the bank's social media channels as well as on the world wide web and in select TV commercials.

The video was shot at Bank of Cape Cod's 1582 Iyannough Road Hyannis offices and on location at the Heritage Sands development, the Cape's first new oceanfront cottage community in more than 50 years. The project, financed by Bank of Cape Cod, recently won four prestigious Prism awards celebrating the best in building and design.

Set among the sand dunes of Old Wharf Road, the one- two- and three-bedroom homes combine classic architecture, hurricane code coastal construction, smart design, energy efficient systems and the community fabric that has defined "cottage living" on Cape Cod for generations. The cottages overlook Nantucket Sound and are selling, with only 18 of 63 still for sale. Homes prices start in the mid-$400,000s.

In the video, manager partner Rob Brennan talks about the important relationship between Heritage Sands and Bank of Cape Cod.

"It takes a Cape Cod bank to make Cape Cod dreams a reality," Brennan said. "From initial concept through each individual closing, our partnership with Bank of Cape Cod has allowed Heritage Sands to become the 'place on the Cape' that the families of our cottage owners will return to for generations. When working on these ideas, you can't always count on smooth sailing, but Bank of Cape Cod has been a steady rudder for us throughout this process."

Click on the link to view the video.    

 https://vimeo.com/144932551

Promotions announced at bank

Timothy T. Telman, President and CEO of Bank of Cape Cod, recently announced several promotions at the bank.

Patricia Coffey of Yarmouth has been promoted to senior vice president chief credit officer. Coffey is one of the longest tenured employees and Telman noted her contributions to the bank “are immeasurable.” She has been responsible for the credit analysis management and oversight of more than $400 million in gross commitments since the bank’s inception in 2006.

Christopher Merrill of Plymouth is now assistant vice president credit officer. Working with Coffey, Merrill has been responsible for the underwriting of more than $45 million of commercial loans in 2015 as well as the financial and operational review of the entities that comprise the bank’s $230 million loan portfolio.

Marcia Glassman of Barnstable has been promoted to assistant vice president loan operations and administration. Glassman has seamlessly assumed the responsibilities and challenges of managing the loan administration group. At the bank she has worked in the retail area, as well as operations before moving to loan administration several years ago.

Carey Losh of Mashpee has been named assistant vice president operations. Previously she served as assistant vice president retail banking. Telman said Losh brings her vast knowledge of the retail business, her analytical skills, and her ability to problem solve to the department.

Jennifer Joyce of Sandwich has been promoted to branch operations specialist. In this new role, Joyce will be supporting the vice president of retail banking operationally and administratively. She has been a part of retail team since Spring 2014.

“These are all well-earned and well-deserved promotions,” Telman said. “As your community neighborhood bank, we understand the need to provide exceptional service and a competitive portfolio of loan and deposit options. These individuals earning promotions, and our entire team, understand that and take great pride in what they do for our customers.”

  

Grant supports work of mental health alliance

The efforts of the Cape chapter of the National Alliance for Mental Illness (NAMI) got a boost recently in the form of a $5,000 grant from the Massachusetts Bankers Association Charitable Foundation.

Bank of Cape Cod nominated the non-profit organization during the foundation’s annual grant cycle with the check presented just before Christmas. It was the only Cape organization to receive a grant this year, with 39 awards totaling $154,000 presented to groups in the Bay State.

“We couldn’t be happier for NAMI and the efforts the organization is making in helping individuals and their families who are affected by mental illness,” said Timothy T. Telman, President and CEO of Bank of Cape Cod. “This grant will make a big difference in the alliance’s modest budget to continue its great work.”

Jacqueline Lane, executive director of the alliance, said the funds will be used to support programming, which is always offered free to all. She said the group’s focus in 2016 will be on children with behavioral issues.

“Our program, ‘Challenging Children,’ is an effort to offer parents, teachers and social service workers with additional skill sets in dealing with kids, as a way to do intervention prior to addiction, suicide, etc…,” Lane said. “Grants are especially important as we do all our own funding locally. We receive no financial support from the state or national organizations.”

The alliance’s first program, Think: Kids, was held in early December and had 200 attendees for the more than six-hour program. Lane noted there was a wait list of 50 more people. The program is created by the Department of Psychiatry at Mass General Hospital and NAMI is planning to offer three more on the Cape in 2016. The grant will go toward continuing this program, she noted.

The Massachusetts Bankers Charitable Foundation is supported by the 170-member banks of the MBA throughout Massachusetts and New England. The grants were distributed to more than eight geographic regions in the Commonwealth.

NAMI grant

Based on the nomination by Bank of Cape Cod, the Massachusetts Bankers Association Charitable Foundation presented a $5,000 grant to the Cape and Islands chapter of the National Alliance on Mental Illness. Pictured at the ceremony in December are Timothy T. Telman, President/CEO of Bank of Cape Cod; Daniel Forte, President/CEO of Mass. Bankers Association; Jacqueline Lane, executive director of Cape NAMI; Kevin Kiley, COO of Mass. Bankers; and Robert Kinlin, a member of Bank of Cape Cod's board of directors and partner at Robert Paul Properties.   

 

Bank financed project wins revitalization award

With financing from Bank of Cape Cod, developers of Cape Cod Farms market on Route 28 in West Yarmouth and Route 6A in Dennis took run-down, neglected parcels of land and turned them into  thriving locations with gas stations and grocery markets.

The efforts of developers Khalil Naoum and Johnny Kayrouz to transform these eyesores were recognized recently with a Community Revitalization award from Coastal Community Capital. Mark Sexton, executive vice president and chief lending officer at Bank of Cape Cod, presented the award at the group’s annual meeting in late November.

Kayrouz could see beyond the litter strewn about, the rundown building and torn up parking lot at the site on Route 28 in West Yarmouth. He envisioned Cape Cod Farms, a state-of-the-art gas station and brand-new convenience store at the sight that became a blight on the neighborhood.

His vision and that of Naoum transformed the site and after several years planning and building they opened Cape Cod Farms in the Spring of 2013. This was their second project, coming on the heels of their successful opening of  Cape Cod Farms in 2011 at a vacant and derelict property on Route 6A in Dennis.

At the ceremony, Sexton noted that the award is presented to business owners “who have enhanced the community by making significant exterior improvements to their properties.  In turn, they have had a positive impact on the surrounding area.”

Sexton pointed out that both properties have brought new jobs to the community and have enhanced the appearance of both locations.

Lt. Governor Karyn Polito joined Sexton in presenting the award to Kayrouz and Naoum. Other businesses recognized at the annual luncheon included Outer Cape Health services as a Forward Thinking Business and Cape Cod Organic Farms as a Socially Responsible Business.

Sexton and Cape Cod Farms

 Accepting their community revitalization award are Khalil Naoum and Johnny Kayrouz, with Mark Sexton and Lt. Gov. Karyn Polito.

Wood carver featured in bank exhibit

Michael Orbe has always had an affinity for the water. He has worked as a merchant mariner, charter boat captain, marine life naturalist and lecturer.  It is also where he has found plenty of inspiration as an artist and classic New England wood carver.

That passion for the ocean which he turned into an art is on full display right now as part of an exhibit at Bank of Cape Cod’s 1582 Iyannough Road branch. The Brewster resident has chosen a mix of pieces that truly reflect his love and awe of the sea, including a 48-inch carving of Moby Dick, a 20-inch sand dollar and an impressive 48-inch great white shark.

“With our community exhibits we have the unique opportunity to highlight incredibly talented artists and photographers working in many mediums,” said Mark Skala, vice president of marketing and community relations at Bank of Cape Cod.  “Mike’s work is truly special and a labor of love. We are thrilled to showcase him and provide an environment that promotes his talent and allows him to sell his art.”

He displays his talent and inspiration in many businesses and residential locations around the Cape and beyond. His work has been featured at the Cape Cod Museum of Natural History, numerous restaurants, the Chatham Bars Inn, and several Cape Cod waterfront homes including the Kennedy Compound in Hyannisport.

Orbe says his art includes many “nautically inspired” items such as seashell mirrors, candle sconces, lobster claw art, classic wooden fish boxes, curio cabinets, shadow boxes, country tables, footstools, boot bunks, cutting boards, marine life art and much more. All pieces are made with all natural materials  from the United States.

The exhibit at Bank of Cape Cod will be on display through December and can be viewed during regular banking hours, Monday-Friday from 8:30-5 p.m. and Saturday from 8:30-Noon. To learn more about the artist, visit his website at www.capecodwoodshop.com, or stop by his gallery at 20 Long Pond Road, Brewster.

Mike Orbe art

Mike Orbe's art decorates an office wall at Bank of Cape Cod, 1582 Iyannough Road, Hyannis.

Heritage Sands honored with awards

Heritage Sands awardHeritage Sands, the Cape’s first new oceanfront cottage community in more than 50 years, recently won four prestigious Prism awards celebrating the best in building and design.

The awards, handed out at a gala in Boston earlier this month, recognize the finest projects and outstanding achievements of builders, developers, project owners, architects and other professionals in the home building industry. Bank of Cape Cod is the partner providing construction financing for the award-winning cottage community located along Nantucket Sound in Dennisport.

“We congratulate Heritage Sands on these awards and more importantly, for the first-class cottage community they are developing in Dennisport, which is creating new jobs and enhancing our Cape economy,” noted Mark Sexton, executive vice president of Bank of Cape Cod.

Sexton, who was on hand with the Heritage Sands team when the awards were handed out by the Builders and Remodelers Association of Greater Boston, added, “Bank of Cape Cod’s mission in partnering with our clients is to build close relationships which helps grow business, drive our local economy, add jobs and create positive change in our communities.”

Honored as a trailblazer in coastal cottage development, Heritage Sands took home awards in the following categories:

  • Gold winner for Best Land Planning
  • Gold winner for Best Detached Home under 2,500 square feet
  • Gold winner Best Interior Merchandising of a Model (average sale price $350,000-$650,000)
  • Silver winner for Best Multi-Unit for Sale Community: Detached Homes

“Bringing Heritage Sands from concept to reality took a team of professionals from architects and interior designers to our marketers and construction crew, who have worked with public officials in the shared dedication to honoring the past while looking toward the future,” said Heritage Sands developer Rob Brennan.

Brennan also noted the important relationship between Heritage Sands and Bank of Cape Cod.

 “It takes a Cape Cod bank to make Cape Cod dreams a reality,” Brennan said. “From initial concept through each individual closing, our partnership with Bank of Cape Cod has allowed Heritage Sands to become the ‘place on the Cape’ that the families of our cottage owners will return to for generations. When working on these ideas, you can’t always count on smooth sailing, but Bank of Cape Cod has been a steady rudder for us throughout this process.”

Set among the sand dunes of Old Wharf Road in Dennisport, the one- two- and three-bedroom homes combine classic architecture, hurricane code coastal construction, smart design, energy efficient systems and the community fabric that has definted “cottage living” on Cape Cod for generations. The community’s cottages overlook Nantucket Sound and are selling, with only 18 of 63 cottages still for sale. Home prices start in the mid-$400,000s.

 

 O'Dell Ferguson exhibits in Falmouth

Chris O’Dell Ferguson was born and raised in a rural area; it was that life that gifted her with the love of nature and all of its forms. It has been an inspiration that has led her on a lifelong journey of exploration of subject matter, as well as multitude of several different mediums.

She shares those talents and inspirations in an exhibit currently on display at Bank of Cape Cod at 445 Main Street, Falmouth.

The artist uses many mediums, including acrylics, watercolors, mixed media, pastel painting, and several forms of sculpture.

Although she chose to pursue an art degree in college, she doesn’t believe that it validates a person’s individual creativity, or artistic abilities. She holds a strong to the idea that if a person chooses, one can and should follow his or her own creative path. To her, art is an extension of who we are and what we have to say.

O’Dell Ferguson understands the rules of art, and happily breaks most of them. When you see her work, she said she hopes that you will share in her love of the never ending exploration.

Along the way, she has been lucky enough to have participated in several national exhibitions, been published internationally, and shown locally, as well as nationally. She has graciously accepted a few awards, and feels truly blessed to have gained several gallery representations.

“We are thrilled to offer a showcase for Chris’ incredible talent,” said Mark Skala, vice president of marketing and community relations at Bank of Cape Cod. “Her images in the exhibit capture the beauty of nature and beyond.”

Her work will be on display through October and can be viewed during regular banking hours, Monday-Friday from 8:30-5 p.m. and Saturday from 8:30-Noon.

Chris O'Dell artwork

  

New e-newsletter debuts

Bank of Cape Cod is publishing a new, monthly consumer e-newsletter designed to inform customers, shareholders and the community at large. The premier issue debuted on Tuesday.

“We hope you find this e-newsletter informative, entertaining and useful,” said Timothy T. Telman, President and CEO of Bank of Cape Cod. “Each issue will offer information on timely topics, relevant information about Cape community groups, profiles on our bank team members and other fun items.”

 The newsletter will feature relevant topics in the news -- such as debit card safety and how to improve credit scores – as well as profiles on bank team members and fun items including recipes and Cape Cod trivia.

“We welcome your feedback and I encourage you to reach out to Mark Skala, our vice president of marketing and community relations, with ideas and suggestions for the newsletter. He can be reached by email at mskala@bankofcapecod.com,” Telman noted.

If you have not received your first issue, you can go to the home page of this website, scroll to the bottom and under “Connect With Us” you will find a link to subscribe to the monthly newsletter.

Bank names Rebecca Senez senior staff accountant

Rebecca SenezRebecca Senez of East Sandwich has joined the team at Bank of Cape Cod as senior staff accountant.

Senez most recently worked at a Cape bank where she was staff auditor and previously staff accountant. She got her start in banking as a teller and personal banker and spent three years working at a Brewster accounting firm before returning to banking.

"We are thrilled to welcome Rebecca to our Bank of Cape Cod family,” said Timothy T. Telman, president and CEO of Bank of Cape Cod. “She brings a wealth of experience as well as enthusiasm, and love of the Cape.”

Originally from Connecticut, Senez and her husband, Matthew, moved permanently to the Cape six years ago. She said she loves the Cape’s natural beauty and enjoys the beach, hiking and walking the many trails on Cape with their dog Stella, a yellow English Labrador. She holds a bachelor’s degree in accounting from Central Connecticut State University and is currently working toward her master’s in business administration.

“I like working in a community bank environment and am excited to be a part of Bank of Cape Cod,” said Senez, who is a member of the Cape Cod Young Professionals, the Massachusetts Bankers Internal Auditors and the Massachusetts Society of Certified Public Accountants.

Cape's natural beauty featured in new exhibit

Lighthouses, scenic ocean vistas, nautical images and all things Cape Cod are among the images captured by discerning eye of freelance photographer Linda Marquette.

She loves capturing the natural beauty and peacefulness of landscapes. She has plenty of subject matter as she canvasses Cape Cod, Martha’s Vineyard and Nantucket for inspiration.

Marquette’s work is currently on display at Bank of Cape Cod’s Hyannis branch at 1582 Iyannough Road. She has put together a collection of some of her favorite images for the exhibit, which is on display for September and October.

“I explore all types of media for presentation of my photographs, including wood prints, metal prints, various types of archival paper such as metallic paper, prints on slate and gallery wrapped canvas,” Marquette said. “My work has been published in Cape Cod magazine and Cape Cod Life.”

The West Yarmouth resident has also exhibited at the HyArts Shanties at Hyannis Harbor. Photography is her passion and Marquette can always be found with camera in hand when she isn’t busy working her full-time job in the medical field in Boston.

“My work is known for not only capturing the beauty of Cape Cod and the Islands, but also depicting the tranquility of the areas that we all know and love,” she added.

Linda Marquette

This stunning image was captured by photographer Linda Marquette.

Sailing into summer with Sandy Boudreau

Sand, sailing, and sunny blue skies, are all things synonymous with summer here on Cape Cod and can be seen in the works of art by Alexandria “Sandy” Boudreau.

Born and raised here on Cape, Sandy has a nautical style that stems from her ties to the ocean and family history of sailing at the Hyannis Yacht club. While most of her work depicts maritime themes, she does have works of other scenes from here on Cape.

Her works will be on display during July and August at Bank of Cape Cod at 1582 Iyannough Road, Hyannis. Her work can be viewed during regular banking hours, Monday-Friday from 8:30-5 and Saturday from 8:30-noon.

In addition to her own work, Boudreau also teaches art at Station Avenue Elementary School in South Yarmouth, which she said provides her inspiration while helping to pass on her passion to future generations.

Boudreau has had many exhibitions in the past, but her work can now be seen throughout the Cape in various locations such as the 1856 Country Store in Centerville and at the Cape Cod Cultural Center Gift Shop in South Yarmouth.

“My art is Cape Cod Inspired,” Boudreau said. “I am a native of this area and spend most of my time outdoors enjoying the beauty of Cape Cod. The Cape light inspires me, like many artists that came before me.”

Mark Skala, vice president of marketing and community relations at Bank of Cape Cod, said it is a pleasure to feature Boudreau’s work. The bank installed a professional art hanging system so the 1582 Iyannough Road branch could serve as a community gallery space.

 “We are extremely happy to have the opportunity to show off some of Sandy Boudreau’s beautiful work at our branch. Her art is the perfect complement to summer here on Cape Cod,” Skala said.

Sandy Boudreau art

Shareholders hear about bank successes, opportunities ahead

Bank of Cape Cod has seen steady, responsible growth since its inception in 2006, with 2014 proving to be another successful and profitable year, President and CEO Timothy T. Telman told shareholders at an annual meeting on Wednesday, May 20.

“We continue to post solid gains and track our business plan at Bank of Cape Cod,” Telman said in his remarks to those gathered at the Cape Codder Hotel in Hyannis. “We have continued to grow strategically. Our focus for 2015 is on enhanced profitability, operating efficiencies and an increase in deposit acquisition so we further capitalize and maximize our current resources and retail locations.”

Telman said 2014 marked the opening of Bank of Cape Cod’s fourth branch and new corporate offices at 1582 Iyannough Road/Route 132 in Hyannis. The bank’s retail branch network now includes additional locations at 232 Main Street, Hyannis; 57 West Bay Road, Osterville; and 445 Main Street, Falmouth.

“We have a great team, a critical yet supportive board of directors, engaged shareholders, and a remarkable customer base,” Telman said.

He noted the bank continues to experience healthy loan demand for commercial and residential lending and asset quality remains strong. Bank of Cape Cod achieved record profitability in 2014 and so far in 2015, it is exceeding expectations.

Telman noted the following unaudited financial highlights for 2014:

  • Assets of $237 million, a 6 percent increase from December 31, 2013
  • Loans of $197 million, an increase of 11 percent
  • Deposits of $198 million, a 12 percent increase
  • Net income of $576,000, a 6 percent increase

The Cape is experiencing a more stable business environment and the economy continues to show improvement, all positive signs for the bank, Telman said.

 “We have a committed workforce, are prudent in our underwriting and nimble enough to make responsible decisions in an expeditious manner to capitalize on the Cape’s improving economy,” Telman added. “The majority of our lending is right in our own backyard. We are focused right here on Cape Cod helping businesses grow and boosting the economy.”

Also at the meeting, Robert A. Pemberton, David Dunford, and Telman were reappointed to three-year terms on the board of directors of New England Bancorp, Inc., holding company of Bank of Cape Cod.

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