2025 ANNUAL REPORT
VINEYARD BANCORP
MARTHA’S VINEYARD BANK MOMENTUM:
MOVING FORWARD WITH PURPOSE
Dear Martha’s Vineyard Bank stakeholders,
Momentum isn’t just about moving forward. It’s about the acceleration that happens when purpose meets opportunity, when years of careful planning begin generating tangible results.
That’s what 2025 felt like.
Our digital capabilities continue to evolve, with a 3.5% increase in mobile banking adoption and a 25.5% increase in unique Zelle users. We’re meeting customers where they are while keeping our offices as vital community hubs.
The Martha’s Vineyard Bank Charitable Foundation expanded its reach this year, continuing its scholarship program and awarding over $1.1 million in community grants, sponsorships, and donations that supported 146 Island and Falmouth-based nonprofits. Two key grants are funding new buildings for the Chilmark Preschool and the YMCA of Cape Cod, creating healthy, safe spaces for the youngest learners to grow and people of all ages to thrive. To date, the Bank has directed over $10 million to further its mission. This investment represents our ongoing commitment to addressing the community’s most pressing need.
On the business banking side, we’ve seen meaningful progress. Companies are finding their footing for growth. Seasonal businesses are planning beyond the summer months. Multi-generational family enterprises are successfully transitioning to the next chapter. We’ve been there for every conversation, every transition, every moment when a handshake mattered more than paperwork.
Our sustainability initiatives moved from planning to action. Our employees have turned out for the Vineyard Conservation Society’s Earth Day cleanup at Eastville Beach every year since 1992. It’s one of many ways we give our time to the people and places around us.
We finished 2025 on solid ground. The Bank’s assets reached $1.29 billion, and our capital position remained strong, with a Tier 1 leverage ratio of 11.82% at year-end. But numbers only tell part of the story. The real measure is whether we’re the bank these communities need us to be. The answer is yes. And we’re building on that momentum.
Thank you for your continued trust and support.
Sincerely,
James M. Anthony President and CEO
Sustainability and Our B Corp Commitment
Why would a community bank pursue one of the most rigorous corporate certifications in the world? Because for us, doing good has never been separate from doing business. As the first bank in Massachusetts to earn B Corporation certification, we hold ourselves to verified standards for social and environmental performance, transparency, and accountability.
These are values we have carried for more than a century: putting people first, investing in the communities we serve, and acting as stewards of the natural environment and coastal culture that make Martha’s Vineyard and Falmouth home. In 2024, we formalized that commitment further by publishing our inaugural Sustainability Report, setting measurable goals across three areas: locally integrated operations, local investment through the Martha’s Vineyard Bank Charitable Foundation, and social impact initiatives.
We continue to advance those goals. We source 100% of our electricity from renewable sources and are working to transition our remaining energy inputs as we move toward becoming a fossil-fuel free, zero net carbon emissions institution. The path forward requires continued effort, and we are committed to walking it alongside the people and places we serve.
Giordano’s Restaurant: Five Generations of Momentum
Since 1930, Giordano’s has been an Oak Bluffs institution, fueled by five generations of family ownership. Their decades-long partnership with Martha’s Vineyard Bank is built on a foundation of trust that has grown alongside the business.
For a seasonal operation, local support is vital. “Having people right here on the Island is huge,” says Bill Giordano, noting that team members like Edie Prescott and Jocelyn DePaula have been there with direct, hands-on guidance when it was needed.
The relationship thrives on consistency. “It’s like eating meatloaf and mashed potatoes... you know what you’re gonna get when you walk into an office. It’s going to be easy.” That reliability allows the Giordano family to focus on what they do best: running their restaurant.
John Custer: Momentum Runs Deep
Tisbury School Principal John Custer opened his first account at age nine at what was then Dukes County Savings Bank, now Martha’s Vineyard Bank. A Tisbury student himself, he’s never left the community, or the Bank. “Using a local bank is a no-brainer for me,” he says, noting “the importance of trusting relationships.”
Over the years, that connection has seen him through building loans, refinancing, college planning, and managing his father’s finances, with bankers like Rebecca Tattersall and Tim Lowe providing what John calls “special treatment,” though he suspects it’s simply how they do their jobs.
For John, momentum means moving forward while being mindful of those who created opportunities along the way. He sees it when he walks into the Bank and spots familiar faces, including former students who now work there. That’s momentum built from the ground up.
Ann Saccoccia: Momentum in Motion
In 2016, when Ann Saccoccia joined Martha’s Vineyard Bank, she knew she wanted to return to community banking after years at larger institutions. Following in the footsteps of her longtime friend and mentor, Jeanne Ogden, Ann joined a close-knit lending team that has shaped her career ever since. “Momentum doesn’t happen in a vacuum,” she says. “It’s a team effort.”
Ten years later, her drive hasn’t slowed as she guides people through some of the biggest financial decisions of their lives. “This isn’t one and done,” she says. “We walk our customers through every step, from the first conversation to creating a plan to the closing and beyond.”
For Ann, that’s what momentum looks like: showing up, staying the course, and moving forward together.
Michael Kasparian: Watching Momentum Build
During his time at the Falmouth Chamber of Commerce, Michael Kasparian has seen Martha’s Vineyard Bank grow from a single office in Woods Hole into a three-location presence. He was there for the ribbon cutting when the Bank first arrived, replacing a national chain. “They brought a local flavor,” he recalls. “That’s really what was missing.”
Since then, the Bank has been a steady partner to the Chamber as well as schools, nonprofits, and the broader Falmouth community. Michael notices the small things, too. “You can tell turnover’s really low. You go in, it’s the same smiling people. That says a lot.”
For Michael, the Bank’s growth in the region comes down to something simple: showing up and then never letting up. “It feels like the Bank’s been here forever,” he says, and that’s what momentum looks like: a partner so embedded, it’s hard to imagine Falmouth without them.
In 2025 the Charitable Foundation gave over $1.1 million to nonprofit organizations throughout Martha’s Vineyard and in Falmouth. This number included $138,258 in employee-directed and matching donations that empowered our team to support meaningful local initiatives. These investments reflect our ongoing commitment to creating lasting prosperity in the places we call home, turning financial support into tangible opportunities that help our communities thrive.
Community Choice Grants
$5,000 each to four community-selected nonprofits annually: two in Martha’s Vineyard, two in Falmouth
2025 Recipients:
Sponsorships & Donations
Benefiting 69 local nonprofits
Monthly & Quarterly Grants
Awarded to 32 local nonprofits
$235,205 $72,000 $19,002 $20,000
Book Awards
Provided to 6 high school juniors who made a difference in our communities
$1,500
Art of Teaching Grants
$260 to $1,500 awarded to 23 local public-school educators for classroom enrichment projects
Funds reached 89 nonprofit organizations with 100% participation from 118 employees and 10 Trustees
$138,258
$616,913 $12,500
College Scholarships
Awarded to six Class of ‘25 high school seniors pursuing four-year college degrees
Martha’s Vineyard Recipients
Malika Khelalfa American University
Anabelle Metell UMass Amherst
William Thornton UMass Amherst
Jonathan Cardoso Wentworth Institute of Technology
Falmouth Recipients
Deneb Laundre Lehigh University
Mairead “Maggie” American University McManamon
$1,115,378 2025 TOTAL GIVING
Philip J. Norton, Jr. Scholarship
Supporting Carmen Creanga’s M.S. in Clinical Mental Health Counseling at William James College
Amy Heil’s M.Ed in Nonprofit Management and Community Engagement at Merrimack College AND
Our Mission
Established in 2019, the Charitable Foundation supports nonprofits, educators, and students across Martha’s Vineyard and Falmouth.
Loans, net of allowance for credit losses of $8,803 in 2025, $8,838 in 2024, and $9,114 in 2023, respectively
All figures in thousands
