CAMBRIDGE BANCORP
cambridgetrust.comNo Longer Reporting
The company has not filed an annual or quarterly report since its Q1 FY2024 10-Q, filed May 9, 2024. Its latest SEC filing is a 15-12G from Jul 26, 2024.
10-Q for Q1 FY2024, filed May 9, 2024
The sections below describe the company as of the FY2023 annual report.
What Did They Do?
Provides wealth management, commercial and personal banking services to consumers and small- and medium-sized businesses, including investment management, loans, and deposit accounts.
10-K for FY2023, filed Mar 12, 2024Cambridge Bancorp (together with its bank subsidiary, unless the context otherwise requires, the “Company”) is a Massachusetts…View ↗
The Company’s Wealth Management Group has five offices, one in Massachusetts in Boston, three in New Hampshire in Concord, Manchester, and…View ↗
The Company offers a wide range of services to commercial enterprises, non-profit organizations, and individuals. The Company emphasizes…View ↗
How Did They Make Money?
The bank earns interest on loans and securities, less the interest it pays on deposits and borrowings, and also earns fees from wealth management and loans.
10-K for FY2023, filed Mar 12, 2024The Company’s results of operations are largely dependent on net interest income, which is the difference between the interest earned on…View ↗
-
10-K for FY2023, filed Mar 12, 2024
FY2023 revenue by product or service (Noninterest income) ↗
$218.5M
-
10-K for FY2023, filed Mar 12, 2024
$218.5M ↗
| Segment | Share | Revenue |
|---|---|---|
|
Wealth Management Revenue
|
87%
FY2020: 88%
|
Wealth Management Revenue, FY2023
$33M Sources
|
|
Deposit Account Fees
|
8.8%
FY2020: 7.7%
|
Deposit Account Fees, FY2023
$3.3M Sources
|
|
ATM/Debit Card Income
|
4.5%
FY2020: 3.9%
|
ATM/Debit Card Income, FY2023
$1.7M Sources
|
Who Were Their Customers?
The Bank serves consumers and small- and medium-sized businesses through its banking offices; individuals, businesses, and nonprofits also receive wealth management and trust services through its wealth management offices.
10-K for FY2023, filed Mar 12, 2024Cambridge Bancorp (together with its bank subsidiary, unless the context otherwise requires, the “Company”) is a Massachusetts…View ↗
The Company offers a wide range of services to commercial enterprises, non-profit organizations, and individuals. The Company emphasizes…View ↗
The Bank offers a full range of commercial and consumer banking services through its network of 22 banking offices in Eastern Massachusetts…View ↗
Investment management and trust services are offered through our one wealth management office located in Massachusetts , three wealth…View ↗
Did Revenues Turn Into Profits?
Yes. It kept 16 cents of every revenue dollar as net income in FY2023 and turned 15 cents into free cash flow.
How Were They Changing?
10-Q for Q1 FY2024, filed May 9, 2024
Open tableView ↗
-
Jul 15, 2024
Eastern completed its acquisition of Cambridge Bancorp
Cambridge merged into Eastern, and Cambridge Bank merged into Eastern Bank.
Sources
8-K, filed Jul 15, 2024
On July 12, 2024, Eastern Bankshares, Inc. (“Eastern”) completed its previously announced acquisition of Cambridge Bancorp, a Massachusetts…View ↗
Grew. Revenue grew 2.3x in 4 years, from $96.3M in FY2019 to $218.5M in FY2023, about 23% a year.
Loading...
