Commercial Loan Officer

Community & Regional Banks

Salem, MA

2021-06-15

Smith & Wilkinson has been retained by SalemFive (www.salemfive.com) to assist in the strategic buildout of the bank’s Commercial Banking Division.  Over the course of 2021 the bank will be adding multiple experienced commercial bankers to its C&I team.  This important, relationship-based division will play a central role in the continued growth of this storied franchise.

Founded in 1855, SalemFive is one of the premier community banks in the US.  With over $5.5B in total bank assets, SalemFive is a top 10 bank in Massachusetts and the state’s 2nd largest mutual bank. The bank’s mutual ownership structure means that the bank is owned and operated by its customers to provide a stable influence on the markets it serves. Through both prudent organic growth and strategic acquisitions, the bank has grown into an organization that now serves customers throughout eastern Massachusetts and beyond. The bank operates 37 retail locations and in addition to traditional consumer and commercial banking products and services, also offers Insurance, Investment, and Trust services through its subsidiaries. SalemFive is in excellent financial condition, with industry-leading earnings, efficiency, asset quality, and capital. Notably, for the period ending September 30, 2020, the bank had an efficiency ratio of 53.15% and over $575MM in capital. The bank has an approximately $4.2B loan portfolio, of which approximately 78% is secured by commercial and residential real estate. In addition to real estate loans, the bank has approximately $775MM in C&I.

Under the guidance of the Middle Market Team Leader, the Commercial Loan Officers will join an accomplished and collegial team of commercial banking professionals and inherit an existing portfolio of customers to support and grow. We are seeking experienced C&I bankers with proven new business development abilities, credit training, and a team-first mentality. For additional information about this unique opportunity, please contact any member of our search team: Cameron Boyd, Partner & Practice Director, Financial Services (cboyd@smithandwilkinson.com) or Steve Peary, Partner, Financial Services (speary@smithandwilkinson.com).

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