Danvers Bancorp, Inc. · Danvers, MA United States ·(NASDAQ (GS): DNBK)
Company Description
View Danvers Bancorp, Inc. Locations On A US Map
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This link will open in a new window Danvers Bancorp is the holding company for Danversbank, which operates about 20 branches throughout eastern Massachusetts. Founded in 1850, the bank offers deposit services such as checking and savings accounts, in addition to loan services targeted to both consumers and businesses. Commercial and industrial loans constitute the largest segment of the bank's loan portfolio, followed by commercial mortgages, residential mortgages, and construction loans. Wealth management services are offered through an arrangement with Raymond James Financial . In 2009 Danvers Bancorp arranged to acquire Beverly National Bancorp in a $62 million stock swap. To read the full description, subscribe now.
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Key Danvers Bancorp, Inc. Financials
| Company Type | - NASDAQ (GS): DNBK |
| 2008 Sales (mil.) | $54.2 |
| 2008 Employees | 292 |
Danvers Bancorp, Inc. Executives
26 executives listed for Danvers Bancorp, Inc.'s Danvers, MA location.
| Title | Name & Bio | Contact |
| Chairman, President, and CEO | Kevin Bottomley | Network |
| EVP, COO, and Director | James McCarthy | Network |
| EVP and CFO | L. Mark Panella | Network |
Competition
Competitive Landscape for Danvers Bancorp, Inc.
Demand for banking services is closely tied to economic activity and the level of interest rates. The profitability of individual banks depends on marketing skills, efficient operations, and good risk management. Large economies of scale exist in some segments of the industry, which has encouraged industry consolidation. Smaller banks can compete successfully in segments where customer service or knowledge of the local market is more important. The industry is capital-intensive and highly automated: annual revenue per employee is close to $300,000. Many banks and thrifts aggressively offered adjustable rate and subprime mortgages during the housing boom of the early 2000s only to find themselves saddled with loan defaults and extensive losses when the housing bubble burst. Deep exposure to subprime mortgages and mortgage-backed securities caused bank failures, government takeovers, and involuntary mergers. To read the full description, subscribe now.Top Danvers Bancorp, Inc. Competitors
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