The merger between Cambridge Bancorp, parent of Cambridge Trust Company, Optima Bank & Trust and all related conversion activities is complete.
“Optima Bank’s name has changed to Cambridge Trust. Signs and other branding material were replaced at all Optima locations over the weekend of July 20-21,” said Daniel Morrison, co-founder of Optima Bank & Trust and now CEO of Cambridge Trust NH.
Morrison and his wife, Pamela, founded Portsmouth-based Optima Bank & Trust in 2008, with a team of bankers and local business leaders. Morrison, former chairman, president and CEO of Optima, was appointed to the boards of directors of Cambridge Trust and its parent company, Cambridge Bancorp.
Pamela Morrison and other members of the Optima team are also continuing with the Cambridge management team. Bill Young and Rob Gagnon, both original members of the Optima management team, will continue to lead the commercial and residential lending divisions of Cambridge Trust in NH.
“Nearly all of the lenders, branch managers, and other staff who our clients have come to know and trust are remaining in place,” says Daniel Morrison. “Our merger is a partnership of two banks built on trusted relationships and a commitment to exceptional personal attention for our clients. Our local teams are looking forward to delivering an enhanced private banking experience that includes expanded commercial lending capabilities, contemporary investment options, and personalized wealth planning solutions.”
Cambridge Trust has offered wealth management services in NH for more than 20 years and manages over $1 billion of clients’ assets in NH.