To protect the health and safety of employees and shareholders through the duration of the COVID-19 pandemic, Cambridge Bancorp ("Cambridge") has decided to substantially condense its annual meeting of shareholders to be held at 8:30 a.m., Eastern Time, on Monday, May 18, 2020 and to move the meeting to the Cambridge Trust Wealth Management office at 75 State Street, 18th Floor, Boston, MA 02109. We ask that shareholders utilize the proxy voting procedures as outlined in the proxy statement for the meeting and promptly submit their proxy by telephone, Internet or by signing and returning the proxy card by mail.
To comply with guidelines from the Centers for Disease Control and Prevention ("CDC") as well as orders issued by the governor of Massachusetts, Cambridge is strongly recommending against attendance this year. The meeting is anticipated to be completed in less than 10 minutes, and the customary information provided at Cambridge’s annual meetings will be made available following the formal meeting. Attending the meeting will greatly increase the risk of becoming infected with COVID-19 as well as the risk that others will become infected with the disease.
In order to comply with the Massachusetts Governor’s order prohibiting the gathering of 10 or more people, if an eligible shareholder is considering attending, Cambridge asks they contact Cambridge as soon as possible at (617) 520-5520 to register to attend the meeting. Shareholders who do not register prior to the annual meeting will not be permitted to attend the meeting. In the event the ban on gatherings of 10 or more people is rescinded prior to the date of the annual meeting, shareholders will be permitted to attend regardless of whether they registered in advance.
In addition, if an eligible shareholder is considering attending the meeting, Cambridge asks that they closely monitor the CDC’s, the Massachusetts Department of Public Health’s and the Massachusetts Governor’s guidance and restrictions regarding traveling and public gatherings since the situation with respect to COVID-19 is changing rapidly.
About Cambridge Bancorp
Cambridge Bancorp, the parent company of Cambridge Trust Company, is based in Cambridge, Massachusetts. Cambridge Trust Company is a 130-year-old Massachusetts chartered commercial bank with approximately $2.9 billion in assets and a total of 16 Massachusetts and New Hampshire locations. Cambridge Trust Company is one of New England’s leaders in private banking and wealth management with $3.1 billion in client assets under management and administration. The Wealth Management group maintains offices in Boston, Massachusetts and Concord, Manchester, and Portsmouth, New Hampshire.
Certain statements herein may constitute "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements about the Company and its industry involve substantial risks and uncertainties. Statements other than statements of current or historical fact, including statements regarding the Company’s future financial condition, results of operations, business plans, liquidity, cash flows, projected costs, the impact of any laws or regulations applicable to the Company, measures being taken in response to the COVID-19 pandemic and the impact of the COVID-19 pandemic on the Company’s business are forward-looking statements. Words such as "anticipates," "believes," "estimates," "expects," "forecasts," "intends," "plans," "projects," "may," "will," "should," and other similar expressions are intended to identify these forward-looking statements. Such statements are subject to factors that could cause actual results to differ materially from anticipated results. Such factors include, but are not limited to, the following: the current global economic uncertainty and economic conditions being less favorable than expected, disruptions to the credit and financial markets, changes in the Company’s accounting policies or in accounting standards, weakness in the real estate market, legislative, regulatory or accounting changes that adversely affect the Company’s business and/or competitive position, the Dodd-Frank Act’s consumer protection regulations, the duration and scope of the COVID-19 pandemic and its impact on levels of consumer confidence, actions governments, businesses and individuals take in response to the COVID-19 pandemic, the impact of the COVID-19 pandemic and actions taken in response to the pandemic on global and regional economies and economic activity, the pace of recovery when the COVID-19 pandemic subsides, challenges from the integration of the Company and Optima resulting in the combined business not operating as effectively as expected, disruptions in the Company’s ability to access the capital markets, the businesses of the Company and Wellesley may not be combined successfully, or such combination may take longer than expected, the cost savings of the merger with Wellesley may not be fully realized or may take longer to realize than expected, operating costs, customer loss and business disruption following the Wellesley merger, including adverse effects on relationships with employees, may be greater than expected, governmental approvals of the merger with Wellesley may not be obtained, or adverse regulatory conditions may be imposed in connection with governmental approvals of the merger, and other factors that are described in the Company’s filings with the Securities and Exchange Commission, including the Annual Report on Form 10-K for the year end December 31, 2019, which the Company filed on March 16, 2020. The Company does not undertake, and specifically disclaims any obligation, to publicly release the result of any revisions which may be made to any forward-looking statements to reflect the occurrence of anticipated or unanticipated events or circumstances after the date of such statements. You are cautioned not to place undue reliance on these forward-looking statements.
Michael F. Carotenuto
Chief Financial Officer