Business brief: Martha’s Vineyard Savings Bank to open Falmouth branch


Martha’s Vineyard Savings Bank has announced plans to open a new full service branch office at 397 Palmer Avenue, Falmouth. The new office is expected to open on May 5, subject to required regulatory approvals, according to a press release.

“We’re excited to expand our off-Island footprint” said Paul Falvey, president of the bank. “The location is ideal, as it will provide added convenience for our existing Woods Hole and Martha’s Vineyard customers, while increasing our ability to serve the greater Falmouth market.”

The new bank office is located in the former TD Bank branch location just opposite Cape Cod Bagel. It will feature drive-up teller stations and a drive-up ATM. There will also be ample on-site parking and convenient access from both Palmer Avenue and Jones Road, according to a press release.

“We expect the drive-up tellers and drive-up ATM to have great appeal to both our individual and business customers,” Robert Rippcondi, head of retail banking, said. “These will offer great convenience to better accommodate our customers’ busy lives.”

The 3,030 square-foot Cape Cod style branch building will be a full-service banking center, providing teller and new account services, private banking, residential lending, safe deposit rental, commercial lending, and wealth management and trust services, according to bank officials. The Woods Hole branch office near the Woods Hole Steamship Authority terminal will remain open.

Martha’s Vineyard Savings Bank   508-627-4266