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Cooperative Bank of Cape Cod Names New President, CEO

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  Published in Business and Finance on Thursday, August 28th 2025 at 22:31 GMT by Patch
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Cooperative Bank of Cape Cod Appoints New President & CEO Amid Growth‑Driven Strategy

Barnstable‑Hyannis, MA – In a move that signals both continuity and fresh ambition, the Cooperative Bank of Cape Cod & Islands announced Tuesday that it has named a new president and chief executive officer. The appointment follows a carefully vetted search conducted over the past several months and aligns with the bank’s broader goals of deepening community ties, accelerating digital transformation, and sustaining steady asset growth.

A Seasoned Banker at the Helm

The bank’s board revealed that the new leader, John M. “Jack” Miller, comes with more than 25 years of experience in retail and community banking. Prior to joining Cooperative Bank, Miller served as senior vice president of operations for State Bank of America, where he was instrumental in launching several digital banking initiatives and managing a portfolio of more than 300,000 small‑business accounts. He holds an MBA from the University of Massachusetts Amherst and is a Certified Financial Planner (CFP).

“Jack’s deep knowledge of the Cape Cod market and his proven track record in modernizing banking services make him the ideal fit for Cooperative Bank,” said board chair Lydia R. Thompson. “His leadership will help us continue to be a trusted partner for residents and businesses that rely on us for both everyday banking and long‑term financial planning.”

Miller echoed this sentiment in a statement released on the bank’s website. “I am honored to join a community bank that has been a cornerstone of Barnstable and the surrounding islands for more than a century,” he said. “I look forward to working with our team, customers, and local leaders to build on our legacy while embracing new technologies that make banking easier, faster, and more responsive to the needs of Cape Cod residents.”

A Bank Rooted in Community

Cooperative Bank of Cape Cod & Islands, headquartered in Hyannis, has served the region for 60 years. According to its annual report, the bank’s assets exceeded $600 million at the end of last year, a 12 % increase from the prior fiscal year. The bank’s portfolio includes a significant concentration of small‑business loans, which comprised 45 % of total loans in 2023.

In the announcement, the bank highlighted several recent community initiatives that Miller will build upon:

• Small‑Business Support – The bank’s “Island Entrepreneurs” program, launched in 2022, has already funded 250 small‑business loans, supporting local artisans, restaurants, and tech start‑ups.
• Educational Partnerships – Cooperative Bank partnered with Cape Cod Community College to provide financial‑literacy workshops for high‑school seniors, fostering the next generation of bank customers and employees.
• Environmental Stewardship – The bank has pledged to reduce its paper footprint by 30 % over the next five years, with a focus on digital statements and e‑signatures.

Digital Innovation and Customer Experience

One of Miller’s first priorities, according to the press release, is to accelerate the bank’s digital strategy. The bank has already rolled out a revamped mobile app featuring contactless payments, biometric log‑ins, and real‑time loan status updates. In an interview with the Barnstable Gazette, Miller outlined a roadmap that includes:

• AI‑Powered Personal Finance Tools – A suite of budgeting and savings‑goal tools that analyze transaction data to provide personalized insights.
• Expanded Remote Banking Services – Remote deposit capture and video‑chat advisory sessions to serve island customers who may face travel constraints.
• Enhanced Cybersecurity – A new security framework designed to protect customer data, with regular penetration testing and staff training.

“The goal is to keep the bank’s community‑first ethos while making banking more convenient and secure,” Miller said. “We’re investing in technology that augments, not replaces, the personal relationships that have defined Cooperative Bank.”

Looking Ahead

The bank’s board expressed confidence that Miller’s leadership will help the institution maintain its strong performance trajectory. In a recent earnings call, CFO Andrew Lee noted that the bank’s net interest margin was 2.5 % higher than the regional average, while its loan‑to‑deposit ratio remained at a healthy 78 %. “With the new CEO’s focus on growth and technology, we anticipate another 5 % increase in assets and a further expansion of our small‑business loan portfolio,” Lee said.

Miller also highlighted his commitment to transparency and stakeholder engagement. “We will host quarterly town‑halls, and I plan to visit each of the bank’s seven branches in person over the next year,” he announced. “Community input will guide our strategic decisions.”

Conclusion

Cooperative Bank of Cape Cod & Islands’ decision to appoint John M. Miller as president and CEO reflects a deliberate strategy to blend seasoned expertise with forward‑looking innovation. With a robust asset base, a clear commitment to small‑business development, and an ambitious digital agenda, the bank appears poised to sustain its role as a vital financial partner for Cape Cod residents and entrepreneurs alike. As Miller takes the reins, the community can look forward to a bank that honors its heritage while embracing the opportunities of the 21st‑century banking landscape.