Coastal Heritage Bank officially announces that Joanne Pompeo has been named Vice Chair of the Bank and its subsidiaries effective July 1, 2023.

Ms. Pompeo will serve as Vice Chair for Equitable Bancorp, MHC and Equitable Bancorp, Inc., which are holding companies for the Bank.

Ms. Pompeo also serves on several Bank committees including: Corporate Governance Committee; CRA Committee; Executive Committee; Human Resources/Personnel/Compensation Committee; NDIP Committee; Security (Loan & Investment) Committee; and the Strategy Committee.

Ms. Pompeo assumes the role of Vice Chair from Robert Haley, a long-serving member of the Board who passed away in February of 2023.

Chairman/Chief Executive Officer of the Bank, Robert W. Terravecchia, Jr., commented that, “We are fortunate to have a Vice Chair with the depth of knowledge of Joanne and someone who has steadfastly supported the long-term vision and mission of the Bank for many, many years.”‌

Ms. Pompeo is a resident of Hull, MA, and has been a member of the Board of Directors since 1987. She is a graduate of UMASS Amherst. She is presently employed at William Raveis Real Estate in Hingham. Her professional affiliations include National Association of Realtors, Mass Association of Realtors, and South Shore REALTORS®. She also serves as a Member of the Board of Trustees for South Shore Health Systems Foundation.

Through June 30th, 2023 Coastal Heritage Bank has contributed over $75,000 to
seventy-four schools, non-profits, community groups, special events and local institutions.

Your Bank, Your Community – Growing Together

Very pleased to recognize the exceptional academic performance of some of the brightest students on the South Shore by presenting our 2023 Coastal Heritage Bank Scholarships to eight of the area’s best students!

(left to right) Morgan Ceurvels, Hanover High School; Matthew Minich, Scituate High School; Bob Terravecchia, Chairman/CEO Coastal Heritage Bank; Sean Wall, Marshfield High School; Sonny Le, Quincy High School. Not pictured: Nicholas Neary, Weymouth High School; Holden MacAvoy, Norwell High School; Benjamin Rakauskas, Hingham High School; Rileigh Hunt, Silver Lake Regional High School.

The Coastal Heritage Bank Scholarships are presented annually to a graduating senior planning on continuing her/his education at an accredited institution of higher learning.
Preference is given to students pursuing a degree in Business, Management, Finance, Accounting, Economics or Information Technology.

The following criteria are taken in consideration when awarding the scholarships: financial need, academic performance and citizenship/volunteer activities.

At Coastal Heritage Bank, giving back to our local communities is integral to who we are and what we do.

Thank you to our Coastal Heritage Bank employees who serve as members of our Coastal Crew for stopping by the Neighbor Works Veterans home in Marshfield to spruce up the grounds for its residents. Neighbor Works provides affordable housing solutions and opportunities for individuals and families in need, including veterans, people with disabilities, and those without homes.

We are grateful that we are able to help out and give back in any way that we can. Thank you to the employees at Coastal Heritage Bank for volunteering your time with Neighbor Works and taking part in Coastal Cares!

At Coastal Heritage Bank, we prioritize helping others and giving back to our local communities.

We are proud of the work our Coastal Crew accomplished in cleaning up Peggotty Beach on April 15th! Our team, comprised of Coastal Heritage Bank employees, made quick work of removing nearly half a ton of plastic, wood, broken lobster pots, rubber mats, and more from the beach premises.

We cannot thank our staff enough for participating in the beach cleanup, on a weekend no less, and for supporting the Coastal Cares cause.

In reference to current events in the financial industry, I would like to briefly mention a few items of importance about your relationship with Coastal Heritage Bank.

• Please understand that 100% of your deposits with Coastal Heritage are fully insured, above and beyond the FDIC limit of $250,000. This is accomplished through our partnership with the DIF (Depositors Insurance Fund) which covers all deposits in the Bank above the FDIC limit. Since its inception in 1934, no depositor has ever lost a penny in a bank insured by both the FDIC and the DIF.
• We are a stable and sound Bank that is well managed with high capital levels, a growing deposit base and solid loan demand.
• We have a very rich history of managing the ups and downs of a variety of economic cycles – that’s one of the reasons we have been able to thrive on the South Shore for over 140 years.

For additional information and resources please visit the FDIC and DIF websites.

If you have any questions about the Bank or FDIC/DIF insurance, please feel free to contact us at 800-695-1300. I thank you once again for choosing to bank local with Coastal Heritage Bank.

To address certain misrepresentations about FDIC deposit insurance by some crypto companies, the FDIC is issuing an Advisory to FDIC-insured institutions Regarding Deposit Insurance and Dealings with Crypto Companies (FDIC Crypto Advisory).

Additionally, a Fact Sheet on What the Public Needs to Know About FDIC Deposit Insurance and Crypto Companies (Deposit Insurance Fact Sheet) has been posted to FDIC’s website to provide additional information about deposit insurance coverage.

Download Fact Sheet