CAPE COD BANK AND TRUST COMPANY TO ADD SUPERMARKET BRANCHES.HYANNIS, MA--(BUSINESS WIRE)--Dec. 13, 1994 -- Stephen B. Lawson, President and Chief Executive Officer of Cape Cod Cape Cod, narrow peninsula of glacial origin, 399 sq mi (1,033 sq km), SE Mass., extending 65 mi (105 km) E and N into the Atlantic Ocean. It is generally flat, with sand dunes, low hills, and numerous lakes. Bank and Trust Company (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on symbol CCBT CCBT Comprehensive Cognitive Behavioral Therapy ), announced that the bank has entered into an agreement with Stop & Shop Companies of Quincy, Massachusetts Quincy is a city in Norfolk County, Massachusetts. It bears the nicknames "The City of Presidents," "City of Legends," "Birthplace of the American Dream."[1] A major part of Metropolitan Boston, Quincy is a member of Boston's Inner Core Committee for the Metropolitan , to open four new branch offices within Stop & Shop Superstore locations in Harwich, Hyannis, Orleans and South Yarmouth, Massachusetts South Yarmouth is a census-designated place and village located in the town of Yarmouth in Barnstable County, Massachusetts, USA. The population was 11,603 at the 2000 census. Geography South Yarmouth is located at (41. . Other Cape Cod Super Stop & Shop stores will include CCB&T branches in the near future. Hailed by officials at both companies as a dramatic advance in customer service and convenience, the new full service retail banking locations will offer extended evening and weekend hours and provide a complete range of retail banking services, including deposit accounts, loans, and investments. Supermarket banking has proven highly successful with over 2,200 locations in virtually all parts of the United States. "The concept is simple," stated Lawson, "convenience is increasingly desired by customers and prospects and supermarket banking provides it." "Stop & Shop is excited to be a partner with Cape Cod Bank and Trust," said Robert G. Tobin, Stop & Shop's President and Chief Executive Officer. "In store branch banking is yet another one-stop shopping convenience we are pleased to offer our loyal customers on the Cape." CCB&T has engaged International Banking Technologies (IBT (1) (Instructor Based Training) Training courses conducted by human teachers. (2) (Internet Based Training) Training courses provided via the Internet. ) of Atlanta, Georgia, to coordinate its in-store banking program. IBT is the nation's leader in supermarket branches, having helped develop more than 750 branches nationwide. "Conservative yet forward thinking banks like CCB&T, that aggressively offer their services in supermarkets have a tremendous opportunity to increase their market share," said John W. Garnett, Executive Vice President of IBT. "I'm convinced the expanded hours and the convenience of branches in Cape Cod's leading supermarkets will prove to be a big plus for the Cape residents and the bank. Our supermarket banking initiative will bring CCB&T to new areas and will put us in touch with thousands of prospective customers," stated Lawson. "We recognize that consumer banking through traditional branching is on the decline in America. However, supermarket branches are rapidly being developed since the physical and marketing costs are lower, convenience is greater, and access to potential new customer traffic is much higher." Each of the new branches will contain an Automated Teller Machine automated teller machine (ATM), device used by bank customers to process account transactions. Typically, a user inserts into the ATM a special plastic card that is encoded with information on a magnetic strip. (ATM). When all Cape Cod Stop & Shop locations are operating, the bank will have by far the largest delivery system on Cape Cod. At that time, CCB&T will have in excess of 40 banking facilities across the Cape, including 24 full service branches and 15 ATMs. "With this new expansion, CCB&T is extremely well positioned to meet the needs of the banking public and to continue our growth," said Lawson. Stop & Shop, New England's largest supermarket chain, now operates 128 stores including 97 superstores in Connecticut, Massachusetts, New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of and Rhode Island Rhode Island, island, United States Rhode Island, island, 15 mi (24 km) long and 5 mi (8 km) wide, S R.I., at the entrance to Narragansett Bay. It is the largest island in the state, with steep cliffs and excellent beaches. . The new bank branch locations are subject to regulatory approval by Massachusetts and Federal banking authorities. CONTACT: Cape Cod Bank and Trust Company Noal D. Reid, 508-394-2904 |
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