The Cooperative Bank of Cape Cod reported strong financial growth, announced key leadership transitions, and highlighted its philanthropic impact across Cape Cod at its annual meeting for the fiscal year ending March 31, 2025.
Chief Financial Officer and Treasurer Erik Porter reported the bank reached $1.61 billion in total assets and net income of more than $4 million, reflecting continued financial strength amid economic volatility. He also highlighted solid growth across multiple areas of the business including deposits and cash management services, residential and commercial lending, and financial advisory services.
“Despite ongoing economic uncertainty, we’ve continued to grow thanks to our dedicated team and the trust of our clients,” said Lisa Oliver, Chair of the Board, President and CEO, The Cooperative Bank of Cape Cod. “For more than a century, the bank has supported Cape Codders and local businesses, and we will continue this support in the future. Our vision is to transform lives through the power of community banking, and we remain committed to that mission moving forward.”
Oliver, who has led the bank since 2017, earlier this year announced her retirement effective Oct. 31, 2025. During her tenure, the bank has expanded services, strengthened community ties, and achieved remarkable financial performance.
The bank also bid farewell to Gene Guill, who is retiring as Lead Director, although he will remain a bank corporator. Gary DellaPosta, a member of the bank’s Board of Directors since 2013, will assume the post of Lead Director effective immediately. DellaPosta, owner of a Falmouth-based accounting and tax advisory firm, has served as the chair of the bank’s Audit Committee for the past decade and has also held leadership roles on the Nominating and Governance, Compensation and Technology committees.
“We are profoundly grateful for the dedication and commitment Gene has provided in his bank governance role during the past eight years,” said Oliver. “His incredible business acumen, counsel and camaraderie will be greatly missed. We will be well-served moving forward with the financial industry and institutional knowledge of Gary DellaPosta.”
Philanthropy and Community Investment
During the annual meeting, the bank also reported that its corporate giving initiatives and The Cooperative Bank of Cape Cod Charitable Foundation Trust combined to contribute $470,012 in philanthropic and community support funding to more than 117 local nonprofit organizations during the recently completed fiscal year. This funding supported causes such as housing access, food security, and youth development throughout the Cape.