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 operates 19 physical branches throughout the Boston suburbs. In 2021, the company launched Ivy Bank, a digital-only division of the bank with a deposit market extending beyond its home market to 49 states.
The bank’s loan book consists of 36% residential mortgage, followed by a diversified CRE portfolio with investor CRE representing 34% of loans and C&I loans accounting for 15%.
Senior leadership at the bank transitioned in 2024 with Ryan Bailey appointed CEO after previously holding leadership roles in retail banking at USAA, Bank of the West, and TD Bank. In September 2024, Daniel Carey was promoted to CFO, bringing deep experience in the New England market.
The company’s financial and strategic objectives include…
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