Bank of Cape Cod branches out to Falmouth

Bank of Cape Cod officially opened for business in Falmouth this week, with the opening of a third branch in the local bank’s six-year history.

At an opening reception and ribbon-cutting ceremony, bank President and CEO Timothy T. Telman pointed out this marked an important milestone for the bank and the community.

“We are celebrating not only the opening of a new bank branch and the expansion of Bank of Cape Cod’s footprint, but our commitment to the community and the businesses we serve,” Telman said. “Since we opened six years ago our goal has been to assist Cape Cod businesses in their expansion efforts, which in turn helps our bank grow.”

Bank of Cape Cod began with one branch in Hyannis and 14 employees. Today, it has more than 30 employees and a branch in Osterville, as well as Hyannis and Falmouth.

Telman, joined at the ceremony Wednesday by local and regional officials, Falmouth community leaders and many of the bank’s Falmouth customers,  noted in 2011  Bank of Cape Cod provided more than $30 million in loans to local businesses. “That’s putting money directly into the community so these businesses can expand, add employees, secure the latest technology and keep the Cape economy moving in the right direction,” Telman said. “We are fortunate to be a part of that and look forward to future opportunities to grow.”

Wendy Northcross, president and CEO of the Cape Cod Chamber of Commerce, said the bank’s growth meant economic opportunity for the Cape as a whole, pointing out the contractors and landscapers who worked on the branch at 445 Main Street, as well as the bank employees hired for the facility all directly impact the Cape. “That’s good for the Cape and good for our economy,” she said.

Longtime Falmouth Selectman Mary Pat Flynn said she was particularly pleased to see all the renovations to a visible building that had seen consistent turnover. She praised bank officials for the renovations and doing their part to improve Falmouth.

“I’ve often thought this is such a wonderful building with great architecture and hoped someone could make it what it should be,” Flynn said. “It is wonderful to have the bank here and making use of this great space. It’s important to Falmouth and the community.”

The building, which was once a natural food store and at one point a bank, underwent major renovations over the last several months. It will be a full-service branch offering a complete portrfolio of financial services including checking and savings accounts, commercial loans, a drive-thru and 24-hour ATM. Jay Zavala, president of the Falmuth Chamber of Commerce, echoed Flynn’s praise of the renovations and bank’s commitment to Main Street.

Zavala said the bank’s efforts to improve Main Street extended beyond its own building by financially supporting programming at Highfield Hall in Falmouth, and a new park at the east end of Main Street at the former Joe’s Driving Range. The Falmouth 300 Land Trust Committee purchased the 10 acres in December and its plans to create a park got a boost from Bank of Cape Cod with a major donation to purchase trees for the streetscape.

“Bank of Cape Cod is already working for Falmouth helping these two pillars of our community,” Zavala said. “It all brings vitality to our Main street and community as a whole.”

Information from a press release.