Salem Five Bank Extends New Credit Facility to Precision Manufacturing Company, Supporting Sales Growth

Another Asset-Based Lending (ABL) Initiative from Salem Five’s New Business Credit Team

SALEM, MA (December 2, 2025) – Salem Five Bank, a full-service financial services organization with over $8B in assets, today announced that it has provided an Asset-Based Revolving Line of Credit facility to a precision manufacturing company in Massachusetts. This financial package was designed to support sales growth and position the 50+ year-old company for continued success.

This is another deal that the newly-formed Business Credit team has secured since its inception this summer. Michael Richardson, VP, Salem Five Business Credit, states: “We are thrilled to announce this new relationship backing a homegrown manufacturer. This financing strengthens their ability to invest, expand, and compete in our community.”

Salem Five’s Commercial Banking division continues to expand to serve businesses of all sizes and industries, offering products, services and expertise across a variety of industries leveraging solution-based financial tools. From Deposit Products to Loans, Lines of Credit, Asset-based Lending, CRE Financing and Treasury Management services, Salem Five has what most businesses need to grow and succeed.

About Salem Five Bank

Salem Five Bancorp is the holding company of Salem Five (www.salemfive.com), a mutual bank founded in 1855. Whatever the need and whatever the goal, Salem Five’s banking, investment and insurance professionals have the expertise to move customers forward. Salem Five has $8 billion in assets and 33 retail branches in Essex, Middlesex, Norfolk and Suffolk counties. Divisions include Salem Five Mortgage Company, one of the largest mortgage lenders headquartered in New England; Salem Five Wealth Management & Trust offering fiduciary wealth management services to institutions and high-net-worth individuals; and Salem Five Insurance Services, which provides personal and commercial insurance. Salem Five deposits are insured through the FDIC. Salem Five Mortgage Company’s NMLS # is 4662. Equal Housing Lender. Securities are offered through LPL Financial, member FINRA/SIPC. Life insurance products are offered through LPL Financial or its licensed affiliates. Insurance and investment products are not FDIC insured, not bank guaranteed, may lose value, not a deposit, and not insured by any federal government agency.