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Forum on Mortgage Lending to Low and Moderate Income Households
FDIC's Forum on Mortgage
Lending to Low and Moderate Income Households - Biography of Dorothy A.
Dorothy A. Savarese is the President/Chief Executive Officer and Chairman of the Board of The Cape Cod Five Cents Savings Bank, a Massachusetts state-chartered mutual savings bank founded in 1855. She assumed her current duties in January 2005 after serving as the Bank's Chief Operating Officer. The Cape Cod Five Cents Savings Bank remains independent and has grown to $1.7 billion in assets with a leadership position in both deposits and loans on Cape Cod. Currently, the Bank employs about 350 people in its 17 branches throughout Cape Cod and in the Bank's Operations Center and Trust and Asset Management buildings located in Orleans.
Dorothy joined Cape Cod Five in 1993 as a commercial lending officer, subsequently being appointed Vice President of Commercial Lending. She then became Senior Vice President, Director of Product Planning, and introduced many new services, including the establishment of the Bank's Trust and Asset Management in 2003, a department that operates from its own facility and now manages over $500 million in assets.
Before coming to Cape Cod and joining "The Five", Dorothy served as an officer for a regional Midwestern bank. Prior to that, she worked for a national economic development consulting organization, which counted the federal government and a number of cities, states and non-profits as clients. This followed stints with the cities of Covington, Kentucky and Cincinnati, Ohio in neighborhood revitalization and economic development. Dorothy received an MBA from Suffolk University's Sawyer School of Management and resides in Brewster.
Dorothy serves as Chairman of The Cape Cod Five Cents Savings Bank Charitable Foundation Trust. Among her many community affiliations, she also serves currently on the Boards of Directors of the Massachusetts Bankers Association, Cape Cod Healthcare, the Cape Cod Chamber of Commerce and the Arts Foundation of Cape Cod. Deeply committed to housing and community development issues, Dorothy formerly served as a member of the Housing Assistance Corporation board and the Regional Employment Board. Recently she was a planning participant and panelist for both Cape Cod's Housing and Economic Summits.