Financial Profile 2016 – Pentucket Bank

Pentucket Bank has a longstanding tradition of commitment to community support and involvement and 2015 was no exception. The bank celebrated their one-year anniversary in their North Andover branch, their sixth and newest branch located in the Butcher Boy Plaza at 1065 Osgood St. Pentucket Bank’s North Andover team enthusiastically participated in some of the town’s keystone events, while also supporting programs and initiatives in the schools and several nonprofit organizations. Chief Executive Officer Scott Cote said, “It is part of our mission statement ‘…to make a positive difference in the communities we serve…’ and the Pentucket Bank team constantly looks for ways to support that mission.”

While the bank allocated many resources to the North Andover community in 2015, they continued their support of their other branch communities of Haverhill, Salem, N.H., and Hampstead, N.H., in a strong way. In 2015, Pentucket Bank contributed more than $350,000 to local nonprofit organizations, and bank employees spent almost 5,000 hours volunteering their time in support of local charitable causes in all of the communities that they serve. These numbers have been consistent over the last decade, during which employees’ volunteer efforts totaled upwards of 60,000 hours and close to $1.2 million in donations.

Some of Pentucket Bank’s most noteworthy partnerships are with nonprofits that provide services that are available across all the communities in the bank’s service area. These include Home Health VNA/Merrimack Valley Hospice; Emmaus Inc., the Boys & Girls Clubs of Greater Haverhill and Greater Salem, N.H., and the Northshore and Merrimack Valley YMCAs, to name just a few.

In addition to key partnerships with local charitable organizations, Pentucket Bank team members are well known for assuming leadership roles in local nonprofits, service clubs and chambers of commerce.  The bank’s senior management team encourages employees to pursue their passions by serving on boards and committees, with several employees leading the charge as board presidents and chairpeople. Cote said, “We have a talented pool of hardworking staff members who have a lot of passion and talent to bring to the table that can benefit the organizations they are involved in. We feel it is part of our mission to encourage our team to apply their talents and passions within the community, as well as to provide our employees with a variety of resources, including time and monetary support, to help them best fulfil their commitments.”

Pentucket Bank continues to reinforce its commitment to the community through investments in infrastructure that will bring additional resources and growth to the Merrimack Valley and southern New Hampshire. Pentucket Bank is a major supporter of the Salem, N.H., Bike-Ped Corridor Rail Trail project that will offer the Salem community a scenic path for recreation, and connect them to neighboring Windham and beyond. Similarly, the bank is the lead corporate supporter of the Bradford Rail Trail project in Haverhill that will connect the Bradford side of the Merrimack River to the city’s Downtown and the new Harbor Place Development project that will be completed in late 2016. The Pentucket Bank management team understands the value in re-investing into these community enhancement projects, particularly the Harbor Place development. The bank will occupy one floor of office space in the new building that will be called “Pentucket Bank Plaza.”

“It is our privilege to have the Pentucket Bank name linked to the most impactful downtown development initiative in not only Haverhill, but the entire Merrimack Valley’s recent history,” said Cote.  “We are proud of the deep roots we have in Haverhill and feel strongly that making a long-term commitment to our city’s downtown redevelopment demonstrates our commitment to our customers, employees and the betterment of the Haverhill community for the foreseeable future. Additionally, the new riverfront plaza will be a wonderful location for local businesses and citizens to congregate and have easy, public access to the river, enhanced by the completion of the Bradford Rail Trial.”

Pentucket Bank is looking ahead to a positive future as they enter into their 125th anniversary year in 2016. The leadership duo of Chief Executive Officer, Scott Cote, and newly-appointed President, Charles Walker, along with their entire team, are committed to the continued investment in and partnerships with the communities they serve.

Established in 1891, Pentucket Bank is a mutually-owned community bank with assets of $660 million and branches in Haverhill, North Andover, and Salem and Hampstead, N.H. Pentucket Bank has been recognized by Forbes magazine as one of three New England-based community banks that are making a difference; by Banking New England magazine as a bank that is committed to revitalizing the communities that it serves; and it is a five time recipient of The Boston Globe’s Top Places to Work.  Pentucket Bank is the leading bank in Haverhill, one of the fastest growing banks in New Hampshire and North Andover, and a Top Lender recognized by the Small Business Administration.

Pentucket Bank: Haverhill and North Andover, Mass., Hampstead and Salem, N.H.
(978) 372-7731  /  PentucketBank.com