Cambridge Bancorp (Cambridge Bancorp) Credit Losses Provision : $1.0 Mil (As of Dec. 2023)

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What is Cambridge Bancorp Credit Losses Provision?

Cambridge Bancorp's credit losses provision for the three months ended in Dec. 2023 was $0.6 Mil. Its credit losses provision for the trailing twelve months (TTM) ended in Dec. 2023 was $1.0 Mil.

Cambridge Bancorp's quarterly credit losses provision increased from Jun. 2023 ($0.1 Mil) to Sep. 2023 ($0.2 Mil) and increased from Sep. 2023 ($0.2 Mil) to Dec. 2023 ($0.6 Mil).

Cambridge Bancorp's annual credit losses provision increased from Dec. 2021 ($-1.3 Mil) to Dec. 2022 ($3.9 Mil) but then declined from Dec. 2022 ($3.9 Mil) to Dec. 2023 ($0.9 Mil).

Cambridge Bancorp Credit Losses Provision Historical Data

The historical data trend for Cambridge Bancorp's Credit Losses Provision can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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Cambridge Bancorp Credit Losses Provision Chart

Cambridge Bancorp Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Credit Losses Provision

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3.00

18.31

-1.29

3.88

0.90

Cambridge Bancorp Quarterly Data
	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
Credit Losses Provision	Get a 7-Day Free Trial															0.06	0.08	0.20	0.57	0.13

Cambridge Bancorp Credit Losses Provision Calculation

For each period of operations, banks may reserve a portion of their income to cover the possible non-performing loans. The amount of the Credit Losses Provision is dependent on the management's estimate of the load quality they have. The higher Credit Losses Provision is, the lower banks' reported income in. This does not affect banks' cash flow statement.

Credit Losses Provision for the trailing twelve months (TTM) ended in Dec. 2023 adds up the quarterly data reported by the company within the most recent 12 months, which was $1.0 Mil.

Cambridge Bancorp (Cambridge Bancorp) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Banks » Cambridge Bancorp (NAS:CATC) » Definitions » Credit Losses Provision

Comparable Companies

Traded in Other Exchanges

N/A

Address

1336 Massachusetts Avenue, Cambridge, MA, USA, 02138

Website

https://www.cambridgetrust.com

Cambridge Bancorp is a United States-based bank holding company. Its core services include Wealth Management, Commercial Banking, Residential Lending, and Personal Banking. It provides banking services such as deposit accounts, online and mobile banking, business banking, wealth planning and other services. The company's loan portfolio comprises Residential & commercial mortgages, Home equity, Commercial & Industrial and Consumer.

Executives

Joseph P. Sapienza	officer: SVP, Interim CFO	26 MANTER MILL ROAD, LONDONDERRY NH 03053
Simon R Gerlin	director	C/O CLEAN HARBORS, INC., 42 LONGWATER DRIVE, NORWELL MA 02061-9149
Jeffrey F. Smith	officer: EVP/Head of Wealth Mgmt	83 WESTON FARM PATH, MARSHFIELD MA 02050
Stone Robert Gregg Iii	director	78 BLANCHARD ROAD, BURLINGTON MA 01803
Denis K Sheahan	director, officer: Chairman & CEO	78 BLANCHARD ROAD, BURLINGTON MA 01803
Hambleton Douglas Lord	director	78 BLANCHARD ROAD, BURLINGTON MA 01803
Michael Carotenuto	officer: Senior VP & CFO	78 BLANCHARD ROAD, BURLINGTON MA 01803
Martin B Millane	officer: Exec VP & Chief Lending Off	78 BLANCHARD ROAD, BURLINGTON MA 01803
Peter J. Halberstadt	officer: SVP, Chief Credit Officer	11 VIRGINIA ROAD, NEWTON MA 02466
Steven J. Mead	officer: SVP, Head of Commercial Serv.	64 SPRINGS ROAD, BEDFORD MA 01730
Jane C. Walsh	director	47 MYSTIC VALLEY PARKWAY, WINCHESTER MA 01890
Andargachew S Zelleke	director	C/O CAMBRIDGE BANCORP, 1336 MASSACHUSETTS AVENUE, CAMBRIDGE MA 02138
Kerri Mooney	officer: SVP Dir. of Banking Offices	78 BLANCHARD ROAD, BURLINGTON MA 01803
Danielle Remis Hackel	officer: Chief Marketing Officer	C/O CAMBRIDGE BANCORP, 78 BLANCHARD RD, BURLINGTON MA 01803
Cathleen Agnes Schmidt	director	78 BLANCHARD ROAD, BURLINGTON MA 01803