FALL RIVER – Fall River Five Cents Savings Bank reported asset growth and higher earnings in 2025 during its 170th annual meeting, pointing to continued investment in technology, facilities and community programs, the bank recently announced.
The update showed total assets increased by $14 million to $1.9 billion, while net income rose to $5.1 million – up $1.8 million from 2024 – driven by margin expansion, mortgage banking income and expense controls. The bank, which is also known as BankFive, reported $160.7 million in regulatory capital.
“We are proud to continue to provide affordable and equitable financial solutions to communities across Massachusetts and Rhode Island,” said CEO and President Anne P. Tangen. “As we reflect on 170 years of service, our mission continues to have a powerful impact, and we look forward to seeing this impact grow.”
BankFive also highlighted $670,000 in charitable giving and nearly 2,500 employee volunteer hours, along with expanded financial literacy programming.
The bank said it has continued investing in its physical footprint, including a renovated Fall River headquarters unveiled in 2025 as part of roughly $25 million in branch and facility upgrades over the past five years.
It also pointed to technology investments, including the rollout of real-time payment capabilities through FedNow and upgrades to internal systems, as part of a broader push to modernize operations.
Separately, BankFive recently hired Christopher Curry as senior vice president and chief information officer.
The bank also noted several leadership appointments and community board roles, including Tangen’s election to the board of the American Bankers Association.
BankFive is a $1.9 billion mutual bank headquartered in Fall River with 18 locations serving Massachusetts and Rhode Island.
Matthew McNulty is a PBN staff writer. He can be reached at McNulty@PBN.com or on X at @MattMcNultyNYC.
