Cambridge Savings forms asset-based lending business

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Cambridge Savings Bank in Massachusetts has added a business line.

The $3.9 billion–asset mutual said in a press release Tuesday that it had hired two bankers to form an asset-based lending team.

Keith Broyles and Yvonne Kizner previously worked at Blue Hills Bancorp in Norwood, Mass., which was recently sold to Independent Bank in Rockland, Mass.

Broyles was named head of asset-based lending. Kizner is vice president of asset-based lending. The bankers, who joined Cambridge Savings on April 1, will work closely with the mutual’s corporate lending team.

Broyles and Kizner “are a strong and experienced team with a proven track record of success in" asset-based lending, Wayne Patenaude, Cambridge Savings' president and CEO, said in the release.

"We are thrilled about the prospective future growth that an ABL business line under their leadership will bring to our overall commercial banking business line,” Patenaude added.

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Community banking Mutual banks Asset-based lending Massachusetts