Martha’s Vineyard Savings Bank

What Martha’s Vineyard Savings Bank does

Martha's Vineyard Bank (formerly Martha's Vineyard Savings Bank) is a community-owned mutual savings bank chartered in 1955 with banking roots to 1909, headquartered in Edgartown, Massachusetts. The bank serves individual consumers, small and mid-sized businesses, and commercial real estate borrowers across Martha's Vineyard, Woods Hole, and Falmouth through 10 branch locations, a network of Interactive Teller Machines and ATMs (with SUM surcharge-free access), and a digital banking platform spanning online and mobile channels (iOS and Android). Core products include VoyagerChecking, Statement Savings, Money Market, and Certificates of Deposit on the deposit side, and residential mortgages, home equity loans, commercial mortgages, construction loans, and SBA financing on the lending side. The bank is differentiated by combined FDIC and Depositors Insurance Fund (DIF) coverage providing 100% deposit insurance, B Corporation certification (the first bank in Massachusetts, June 2023), and the Martha's Vineyard Bank Charitable Foundation, which distributed $2.2M+ in grants to 169 nonprofits in 2023.

The bank operates a traditional core banking system augmented by digital banking capabilities including a mobile app with mobile deposit, card controls, and travel notifications, and an online banking platform with bill pay, Zelle, and eStatements. Wire transfers, payment processing services, Interactive Teller Machines, fraud prevention tools, and Social Security direct deposit round out the service set. A wholly owned subsidiary, Martha's Vineyard Investment Advisors, provides wealth management and investment advisory services, while the LIFT sub-brand offers a donation and shopping platform supporting local nonprofits. Technology integrations are limited to commodity third-party services (Zelle, Apple Pay, Google Pay, SUM ATM network, Deluxe check ordering) with no disclosed API, SDK, or AI/ML capabilities.

Revenue is generated primarily through net interest income from the spread on residential, commercial, and construction loans against deposits, supplemented by banking service fees (debit card, wire, stop payment, check ordering) and investment advisory fees. GTM is relationship-led: business accounts require in-person visits, commercial lending runs through relationship managers, and the Solutions Desk provides phone, email, and live chat support. Marketing relies on community sponsorships, Charitable Foundation visibility, local press (Vineyard Gazette, MV Times), and brand heritage rather than paid digital acquisition. The bank is private, mutually owned by depositors, with no parent company, no disclosed funding rounds, and no private equity backing. Headcount is reported in the 51-100 range; total assets and revenue are not disclosed in the available source material.

Name

Martha’s Vineyard Savings Bank

Legal name

Martha's Vineyard Bank

Website

https://mvbank.com

Company type

Private

Founded year

1955

Operating status

Operating

Headcount range

51–100 employees

Short description

Martha's Vineyard Bank is a community-owned mutual savings bank providing personal and business banking, residential and commercial lending, and wealth management across Martha's Vineyard, Woods Hole, and Falmouth, Massachusetts, with 10 branches and 100% FDIC+DIF deposit insurance.

Ownership category

akta.pro rank

Product category

Community Banking

NAICS

Savings Institutions and Other Depository Credit Intermediation (522180), Commercial Banking (52211)

SIC

Savings Institutions, Not Federally Chartered (6036), State Commercial Banks (6022)

akta.pro primary industry

SME Deposits & Business Accounts (Operating, Savings, CDs) (FSABABAC)

akta.pro secondary industry

SBA/Government-Backed & Development Finance Loans (FSAKAGAI)

Keywords

• Retail banking services
• Consumer lending
• Commercial banking
• Community banking
• Wealth management

Headquarters

HQ city

Edgartown

HQ country

United States

HQ region

North America

Offices10 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales, Others

Revenue model

1. Net Interest Income: Traditional bank revenue from spread between interest earned on loans (residential mortgages, commercial mortgages, construction loans, personal loans) and interest paid on deposits (checking, savings, CDs, money market accounts). The bank offers both residential lending and commercial lending services.
2. Banking Service Fees: Various fees including debit card-related services, wire transfers, stop payments, check ordering, and other traditional banking service charges. Bill pay available with some fees for rush delivery.
3. Investment Advisory Services: Martha's Vineyard Investment Advisors provides investment management and advisory services, a separate subsidiary providing wealth management and financial planning.

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels5 records

Core offering

Martha's Vineyard Bank is a mutual community savings bank offering deposit accounts (checking, savings, money market, CDs), residential and commercial mortgage lending, SBA loans, business banking, digital banking, and investment advisory services to individuals, businesses, and commercial real estate borrowers on Martha's Vineyard, Cape Cod, Woods Hole, and Falmouth, Massachusetts. The bank distributes its services through 10 branch locations, Interactive Teller Machines, online and mobile banking platforms, and a trust and investment advisory office.

Product overview

Martha's Vineyard Bank (formerly Martha's Vineyard Savings Bank) is a community bank offering a comprehensive suite of personal and business banking products. The core offerings include checking accounts (VoyagerChecking with ATM fee refunds), savings accounts (Statement Savings, Money Market), and Certificates of Deposit. The bank provides lending services including residential mortgages, commercial real estate loans, construction loans, and SBA financing. Digital banking is delivered through Online Banking and a Mobile Banking App, with additional services like Online Bill Pay (with Zelle integration), wire transfers, and eStatements. The bank also offers specialized services such as Interactive Teller Machines (ITM), fraud prevention tools, and Social Security Direct Deposit. Related entities include Martha's Vineyard Investment Advisors for wealth management and the Martha's Vineyard Bank Charitable Foundation for community giving. The bank is notable for providing 100% deposit insurance through both FDIC and DIF coverage.

Differentiator

Problem solved

Functional benefit

Brands

• Martha's Vineyard Bank Charitable Foundation: The bank's philanthropic arm dedicated to supporting nonprofits and community initiatives on Martha's Vineyard and in Falmouth
• Martha's Vineyard Investment Advisors
• LIFT

Products and services

• VoyagerChecking

Quantifiable outcome

• 100% deposit insurance coverage through FDIC and DIF combination
• +3 more outcomes

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration5 records

Feature4 records

Partnerships

Four partnerships are on record, tiered core and minor.

• Island Housing TrustcoreStrategic or Co-development Partner · 1 January 2019MV Future Financing initiative begun in 2019 as a participation loan program with Island Housing Trust to provide low-cost loans for affordable workforce housing development on Martha's Vineyard. Martha's Vineyard Bank acts as lead lender, escrow agent, and loan servicer. The program enables individual social impact investors to participate in larger affordable housing loans.
• Martha's Vineyard Fishermen's Preservation TrustcoreStrategic or Co-development PartnerNonprofit dedicated to preserving and safeguarding Martha's Vineyard's small boat commercial fishing industry. Martha's Vineyard Bank Charitable Foundation purchased a five-ton ice machine for the trust in 2021 to help preserve locally caught seafood.
• MVYouthminorStrategic or Co-development PartnerMVYouth provided initial support for the Ronald H. Rappaport Scholar Fund, established in partnership with the Rappaport family and Martha's Vineyard Bank Charitable Foundation to honor Ronald H. Rappaport's legacy through scholarships for Island students.
• Depositors Insurance Fund (DIF)coreOthersDIF provides additional deposit insurance coverage above FDIC limits, enabling Martha's Vineyard Bank to offer 100% deposit insurance on all account balances. DIF coverage is automatic for depositors at DIF member banks at no additional cost.

Scale indicators8 records

Recent moves9 records

Expansion highlights5 records

Direct peers

• Cape Cod 5: Mutual community bank headquartered on Cape Cod, MA, providing personal and business banking, mortgages, and wealth services to Cape Cod, Martha's Vineyard, and Nantucket customers — overlapping geography and customer base with Martha's Vineyard Bank.
• Rockland Trust (Independent Bank Corp): Massachusetts-headquartered community bank offering consumer and commercial banking, mortgages, and wealth management across Southeastern MA, Cape Cod, and the Islands — directly overlapping MV Bank's footprint and product set.
• The Cooperative Bank of Cape Cod: Mutual community bank serving Cape Cod and surrounding areas with personal and business banking, residential lending, and commercial real estate financing — comparable community-bank model and regional overlap with MV Bank.
• East Cambridge Savings Bank: Massachusetts-chartered mutual savings bank offering deposit accounts, mortgages, commercial lending, and digital banking — directly comparable mutual savings-bank structure and consumer/commercial product mix.
• Brookline Bank (Brookline Bancorp): Massachusetts community bank providing consumer and commercial banking, residential and commercial mortgages, and wealth services — comparable product breadth and Massachusetts focus.
• Cambridge Savings Bank: Massachusetts mutual savings bank offering personal banking, business banking, residential and commercial lending, and wealth management — strong structural and product-line similarity to MV Bank.
• Salem Five Bank: Massachusetts-based community bank (mutual holding company structure) providing deposit accounts, mortgages, commercial lending, and digital banking — directly comparable mutual savings-bank model.
• BayCoast Bank: Massachusetts community bank serving Southeastern Massachusetts and Rhode Island with personal and business banking, mortgages, and SBA lending — comparable community-bank model and Southeastern New England geography.
• North Shore Bank: Massachusetts-based mutual savings bank providing consumer and business banking, residential mortgages, and digital channels — highly comparable mutual savings-bank structure and product mix.

Broad incumbents

• Webster Bank: Large New England regional bank offering commercial lending, business banking, mortgages, and wealth management across CT, MA, RI, and NY — broader scale and footprint, but overlapping commercial-banking capabilities that compete with MV Bank's mainland MA customers.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/marthas-vineyard-savings-bank

Compliance7 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Martha’s Vineyard Savings Bank