Cambridge Financial Group, Inc. Surveillance Report
Company Profile
Cambridge Financial Group, Inc. (“Cambridge” or “the company”) is a privately held mutual holding company for Cambridge Savings Bank (“the bank”). Founded in 1834, the bank operates 18 branches throughout suburban markets surrounding Greater Boston. In 2021, the company launched Ivy Bank, a digital only platform with a targeted deposit market extending beyond the home market. The bank’s deposit market share within the Greater Boston MSA compares well to institutions of similar size.
The residential loan portfolio remains real estate oriented. Residential loans have historically accounted for more than 30% of total loans; in addition, CRE loans – C&D, Non-Owner Occupied, and Multi-family – constituted about 5%, 50%, and 8%, respectively, as of 4Q24.
Ryan Bailey, an experienced banking executive with an extensive retail banking background, was appointed CEO in 2024, as was Daniel Carey to CFO.
Cambridge’s financial and strategic…
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