Bank of Cape Cod was the number one commercial lender in Barnstable County providing more than $14 million in real estate loans to local businesses in the third quarter from July-September.
According to data provided and gathered by the Warren Group in Boston, Bank of Cape Cod had a 12.6 percent market share during that time period, far outpacing the other 78 financial institutions serving Barnstable County.
“We have clearly established ourselves as a bank that can get things done,” said Timothy T. Telman, President and CEO of Bank of Cape Cod. “Our ability to be more responsive to local businesses, working with them to get deals done in a responsible and prudent way is reflective of our position in the marketplace as noted by the Warren Group figures.”
Year to date, the seven-year-old Bank of Cape Cod is Barnstable County’s number two commercial real estate lender with a 7.9 percent market share and $24.6 million in loan value, just behind the number one lender who has a 9.8 percent market share and $30.8 million in loans.
Telman credits the success to the bank’s two commercial lenders, Executive Vice President and Chief Lending Officer Mark Sexton and Senior Vice President Charles DeSimone, as well as the local team supporting their efforts. He said businesses appreciate and value having local people who understand the marketplace and can make decisions right here on Cape Cod.
Bank of Cape Cod has branches in Hyannis, Osterville and Falmouth, with a fourth branch scheduled to open on Route 132 in Hyannis sometime in early 2014.