M.V. Bank acquires new Falmouth location

Martha's Vineyard Bank has purchased 84 Main St. in Falmouth for a future branch.

Martha’s Vineyard Bank acquired 84 Main St. in Falmouth, according to a press release. M.V. Bank is currently filing with state and local regulators, including the Massachusetts Division of Banks and Federal Regulators, for approval to offer full-service financial services that may include consumer banking, mortgage and commercial lending, wealth management, and business banking services. 

If approved, the 84 Main St. location will join two existing M.V. Bank locations in Falmouth: one at Palmer Avenue and the other at the ferry landing in Woods Hole. The bank operates seven additional branches located on Martha’s Vineyard, in Edgartown, Vineyard Haven, Chilmark, West Tisbury, and Oak Bluffs.

“Falmouth and Martha’s Vineyard are linked by Vineyard Sound and by generations of businesses, families, and friendships. Our investment on Main Street in Falmouth is a natural extension of our commitment to the communities we serve,” said James Anthony, M.V. Bank president and CEO, in a press release. “We look forward to expanding our relationships in Falmouth with a Main Street location.”

Martha’s Vineyard Bank and its namesake Foundation have donated more than $1.2 million to organizations and small business initiatives over the course of this year’s pandemic. In addition, innovative programs like Lift Certificates, an online retail store where merchants sell discounted gift certificates, have generated over $450,000 of income for small businesses during the pandemic. The bank also offers solutions for workforce housing through programs such as its Home Partnership Loans, a loan program where employers partner with the bank to enable their employees to buy a home and live locally.

M.V. Bank opened its first Falmouth branch in Woods Hole in November 2009. In June 2014, the bank opened a full-service branch at the corner of Palmer Avenue and Jones Road.