ORLEANS — The Cape Cod Five Cents Savings Bank is consolidating its four operations centers, including one on West Road in Orleans, into a new, state-of-the-art facility to be built on Route 132 in Hyannis.
Cape Cod Five will continue to operate its branch bank on Route 6A and its wealth management office on West Road, according to First Executive Vice President Robert Talerman. “That Orleans branch is a very important part of the bank,” he said in an interview Monday. “We're hugely committed to that and the wealth management building. Nothing changes there.”
As for the fate of the operations center buildings in Orleans and elsewhere, “We haven't made any final decisions about any of those,” Talerman said. He noted it will be “another few years” before the new center in Hyannis is up and running.
No closings of “customer-facing facilities” are planned, according to Talerman, and in fact one will be added at the new site in Hyannis.
That location has much to recommend it, Talerman said, noting its “great location” near Exit 6 off Route 6 and that it has already been developed. “We are not taking undeveloped land,” he said. “It's a redevelopment.” The operations center will be connected to the town sewer, with new infrastructure “that will allow other buildings there in the watershed to hook up.”
Panels for solar power will take up “a huge part of the roof of the main building,” said Talerman, and a parking structure “allows us to leave part of the site undisturbed.”
Cape Cod Five opened a branch on Martha's Vineyard a year ago, and one in Wareham a couple of years ago. “We look at things all the time,” Talerman said. “Some things we decide to pursue, others don't make sense to us.”
Asked about the consolidation of banks in recent years, Talerman said, “We are entirely committed to our mutual structure and remaining independent.” The new operations center is “an investment in the future, part of our long-term vision and the importance of having a state-of-the-art, modern office facility that is forward-looking. We want to create a great work environment for employees who will help the bank continue to do what we do well: take care of customers and give back to the community.”