Martha’s Vineyard Bank announced this week that it has purchased the former Bank of America building on the Falmouth Village Green.
The bank building was originally established as the Falmouth National Bank, the oldest bank in Falmouth.
Martha’s Vineyard Bank is filing with local, state and federal regulators, including the Massachusetts Division of Banks, for approval to offer full-service financial services that might include consumer banking, mortgage and commercial lending, wealth management and business banking services.
If approved, the Main Street location will join two existing Martha’s Vineyard Bank locations in Falmouth, one at Palmer Avenue and the other at the ferry landing in Woods Hole. The bank operates seven additional branches 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,” James M. Anthony, president and chief executive officer of Martha’s Vineyard Bank, wrote in the bank’s announcement.
Martha’s Vineyard Bank and its namesake foundation have donated over $1.2 million to organizations and small-business initiatives over the course of this year’s pandemic. In addition, programs like Lift Certificates, an online retail store where merchants sell discounted gift certificates, have generated more than $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 in which employers partner with the bank to enable their employees to buy a home and live locally.
The 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.