Cambridge Financial Group, Inc. Surveillance Report
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…
Log in or Sign up for free access to this report.
KBRA is a global full-service rating agency with a mission to set a standard of excellence and integrity. Established in 2010, KBRA remains dedicated to the restoration of trust in credit ratings by creating new standards for assessing risk and by offering timely and transparent ratings. KBRA provides market participants with an alternative solution by delivering in-depth research across various sectors within the United States and European markets. We strive to provide the investment community with the products and tools needed to make informed investment decisions.