Cambridge Savings Bank’s asset-based lending team provided a $10.5 million credit facility to Stauer, a direct marketing retailer offering consumers affordable jewelry, watches, accessories and collectibles.
Cambridge Savings Bank was the lead bank in a $45 million participation loan for Modera Wealth Management’s transaction with Parsec Financial Management.
Cambridge Savings Bank hired Ryan Bailey as its new president and CEO. Bailey joined Cambridge Savings Bank from USAA, where he spent the past two-plus years as head of retail banking.
Cambridge Savings Bank provided a Small Business Administration term loan to restaurateur Tom Schlesinger-Guidelli. The loan will be used to fund construction and related startup costs for his new venture, Hook + Line, a New England seafood restaurant, and H + L Market, a fast-casual seafood market.
Cambridge Savings Bank appointed Michael Richardson to the role of vice president and relationship manager on is asset-based lending team. Prior to this new role, Richardson served as portfolio manager for ABL at Eastern Bank for nearly six years.
Cambridge Savings Bank and its asset-based lending team provided a credit facility to Bigbelly Solar, a provider of waste solutions for public spaces.
Cambridge Savings Bank provided $2.6 million in financing to support the acquisition and transition of ownership for White Wood Kitchens, a Cape Cod-based kitchen and project management company to former information technology leader Anton Emelianov.
Cambridge Savings Bank’s asset-based lending team provided a $10 million revolving line of credit to Leadpoint Business Services, a Phoenix-based workforce solutions company that offers contingent workforce optimization, embedded supervisory and operating support and direct hire solutions.
Cambridge Savings Bank increased the commercial and industrial (C&I) revolving line of credit for First Boston Construction Holdings to $60 million.
Cambridge Savings Bank appointed Tony Macchi senior vice president of digital and products. Before joining Cambridge Savings Bank, Macchi held leadership positions at other banks, including his most recent role as a senior vice president of the retail online channel at Santander Bank.