Company Profile
- Cambridge Financial Group, Inc. (“Cambridge” or “the company”), headquartered in Cambridge, Massachusetts, is a privately held mutual holding company for Cambridge Savings Bank (“the bank”). Founded in 1834, the bank is among the top ten largest mutual banks in the U.S. based on assets. A branch-lite network of 18 branches (>$200 million deposits per branch) is located throughout suburban markets surrounding Greater Boston. In mid-2021, the company launched Ivy Bank, a digital only division of the bank with a footprint extending beyond the home market.
- The loan portfolio is real estate-centric reflecting a residential real estate loan mix historically accounting for more than 30% of total loans, partly derived from a legacy mutual model, and comparatively higher investor CRE loan composition, which accounted for ~50% of total loans at YE23. C&I, including owner-occupied CRE, and C&D represented 18% and 6%, respectively, of total loans, at…