Profitability:
2024 net income increased versus 2023, supported by mortgage banking income that nearly doubled year over year. The company also reports improved efficiency and earnings despite margin pressure.
Market Expansion:
The bank announced three full‑service branches for 2026 and added a Boston‑based retail banking team, signaling a push to grow core deposits and presence. New locations are being promoted, with the Seaport branch live and Falmouth listed as coming soon with community events.
Product Line Growth:
New and expanded lines such as a national SBA lending division, securities‑based lending, insurance, and 1031 exchange services broaden revenue sources. Partnerships like Blend and DepositLink support scaling and distribution.
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