Salem Five banker honored

Matt Marmen Recognized by Community Development Company

Date: July 31, 2023


Matt Marmen, senior vice president in Salem Five’s Commercial Banking Division, received the prestigious “Massachusetts Banker of the Year Award” from Bay Colony Development Corp.
Bay Colony, a Certified Development Company (CDC), based its annual Award of Excellence on the number and amount of U.S. Small Business Administration 504 Loans issued during its 2023 fiscal year, which ended June 30.
“Matt has been great to work with over the years, along with the rest of the commercial lending team and community business banking team at Salem Five,” said Erik Adams, executive vice president at Bay Colony.
As a CDC, Bay Colony’s purpose is to stimulate economic development through the creation and preservation of jobs by providing healthy companies with fixed asset financing at affordable rates and reasonable terms. It’s a private non-profit corporation that works with bank loan officers, accountants, real estate brokers, attorneys and their clients to identify and structure the most beneficial financing program appropriate to the needs of the project.
“Matt’s annually one of our top performers and has been a leader in partnering with Bay Colony to provide financial solutions for his customer base. Matt and the Bank have had a great working relationship with Bay Colony for many years, so it’s no surprise that his successful collaboration with them was recognized by the organization,” said Kevin Rourke, who leads the Commercial Banking Division at Salem Five.