Commercial Real Estate Lender

Community & Regional Banks

Peabody, MA

2021-07-22

S&W has been retained by North Shore Bank (“NSB,” https://www.northshore-bank.com) to manage the search for an experienced Commercial Real Estate Lender to join their growing Business Banking team.  Headquartered in Peabody, Massachusetts, North Shore Bank is a mutually chartered community bank that has been serving consumer and small business customers in eastern Massachusetts and southern New Hampshire and beyond for over 130 years.  The bank has grown prudently and consistently throughout its history, both organically, and through partnerships with other area community banks with similar missions and cultures.  NSB has now successfully completed 4 mergers, 3 of which have been in the past 7 years. In 2014, the bank merged with Saugusbank, in 2015 with Merrimac Savings Bank, and in 2019 with Beverly Bank, growing the franchise to over $1.5B in total assets and 17 retail locations, all while maintaining its mutual ownership structure and commitment to the communities it serves.  The bank is in excellent financial condition, with strong earnings (ROA 1.01), efficiency (ratio of 60%), asset quality (noncurrent loans to loans of 0.52), and capital (10.32% core capital).  NSB has an approximately $1.1B loan portfolio, $916MM of which is secured by real estate (both CRE and 1-4 family residential), and also includes $218MM in C&I.  Joining a seasoned team of commercial lenders, the Commercial Real Estate Lender will be responsible for developing and maintaining a portfolio of high performing CRE loans throughout eastern Massachusetts.  The bank’s lenders are supported by an experienced commercial credit department, local and efficient decision making, and a full suite of technology and cash management solutions.  For additional information about this important community banking role, please contact: Cameron Boyd, Managing Partner, Financial Services Practice (cboyd@smithandwilkinson.com).

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