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  • Cape Cod 5 Chair and CEO Dorothy Savarese Appointed as President of Federal Reserve Board CDIAC

    PRESS RELEASE

    for The Cape Cod Five Cents Savings Bank
    FOR IMMEDIATE RELEASE: January 22, 2020
    Contact: Stephanie Dennehy for further information at 508-247-1605 or
    sdennehy@capecodfive.com
     

    Cape Cod 5 Chair and CEO Dorothy Savarese Appointed as President of Federal Reserve Board CDIAC

    Orleans, MA – Dorothy A. Savarese, Chair and CEO of Cape Cod 5, has been appointed by the
    Federal Reserve Board to serve as the President of their Community Depository Institutions
    Advisory Council (CDIAC) for 2020.

    Savarese was appointed last year to the twelve-member CDIAC, which provides first-hand input
    to the Federal Reserve Board of Governors about the economy, lending conditions and other
    related issues. The CDIAC is comprised of one delegate from the advisory council for each of
    the Federal Reserve districts and represents a mix of commercial banks, thrift institutions and
    credit unions (https://www.federalreserve.gov/newsevents/pressreleases/other20200114a.htm).

    “I am so honored by this opportunity to further support the efforts of the Federal Reserve and my
    Depository Institution colleagues and the communities they serve,” said Savarese. “Working
    together with the Council representatives, I look forward to continuing to facilitate the provision
    of insights into local economies from around the country and furthering the understanding of the
    importance of community depository institutions like Cape Cod 5, which serve as trusted
    resources for the individuals and businesses that contribute to the vitality of our communities.”

    Savarese was appointed to the Federal Reserve Bank of Boston’s First District CDIAC in 2018,
    for which she currently serves as Chair. Savarese is past Chair of the American Bankers
    Association and has served on the FDIC Advisory Committee on Community Banking. 

    About Cape Cod 5

    Founded in 1855, Cape Cod 5 is an independent state-chartered financial institution with over $3.4 billion in
    assets. Through its 26 offices, Cape Cod 5 offers a broad range of financial products and services to customers living
    and working on Cape Cod, Martha’s Vineyard and Nantucket and in Southeastern Massachusetts communities.
    Products and services include consumer and commercial banking products; residential mortgages; investment
    management and trust services. Member FDIC. Equal Housing Lender. NMLS #401717.