Profitability:
Net income increased to about $23.7 million in 2024, up roughly 39% year over year. Q4 2024 net interest margin also improved versus Q4 2023, indicating earnings momentum amid growth.
Market Expansion:
The bank announced three new full‑service branches opening in 2026 in Boston Seaport, Falmouth, and Andover—its first branch expansion since 2010. Deposits rose from about $3.68 billion (Q4 2024) to $3.91 billion (Q4 2025), and residential mortgage volume climbed more than 50% in 2024.
Product Line Growth:
The institution launched a national SBA lending division in 2024, expanded securities‑based lending, and invested in insurance and 1031 exchange services. Residential mortgage production also scaled sharply in 2024 to about $2.7 billion, reinforcing breadth across lending offerings.
