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Dear Ivy Bank Customer, 
 

The swift and startling events regarding Silicon Valley Bank (SVB) and others have raised questions and concerns regarding the extent of the impact on banking and the financial markets. 
 
Cambridge Savings Bank (CSB), which operates our Ivy Bank division, has proudly operated as a community-based mutual bank for 189 years. As a mutual bank, we have a measured approach to growth, are not pressured by short-term gains, and focus on a long view investing in our customers, our community, and our business.
 
CSB is profitable, well capitalized, and our balance sheet is strong, with well diversified loan, investment, and deposit portfolios. In 2022, CSB received an investment-grade rating from Kroll Bond Rating Agency reinforcing the bank's strong position as a reliable business lender – we are pleased to share that rating was re-affirmed by Kroll again earlier this month.
 
Many of you will need and expect guidance and support over the coming weeks, and we are here for you, as always, with advice, guidance and support meaningful for you. If you have questions, we encourage you to reach out to us at 855.489.2265. For those with hearing impairment, please contact 617.441.4111.
 
We are proud to be your partner in financial well-being and are here to help you navigate solutions that best serve your needs. 

 
 President and CEO Signature
Wayne Patenaude
President and CEO