Salem Five Secures $10 Million Credit Facility for Concord Building & Design

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Salem, MA., June 15, 2026 – Salem Five Bank’s Business Credit Team has closed a $10 million credit facility for Concord Building & Design, an 80-year-old, employee-owned lumber and building materials company based in Littleton, Massachusetts.

The financing package consists of a revolving line of credit and commercial real estate financing. This capital gives Concord the liquidity and operational flexibility to manage inventory, strengthen customer relationships, and fund long-term growth initiatives.

The partnership developed over several years, led by Salem Five Executive Vice President, Paul Kelly and Senior Vice President, Keith Broyles. By building a deep understanding of Concord Building & Design’s specific business objectives and challenges, Salem Five delivered a highly customized financing solution tailored to the company’s needs.

"Salem Five showed a genuine commitment to understanding our business from day one," said David Perry, CFO of Concord Building & Design Center. "The team took the time to know our operations and built a competitive proposal that solves both our immediate and long-term needs. Their responsiveness and willingness to listen made them the clear choice."

While the building industry faces challenges from high costs and elevated interest rates, this new credit facility ensures Concord remains competitive. The funding supports new and ongoing operational efficiencies and scales their ability to serve customers across the region.

“We are proud to partner with Concord Building & Design, a company with a rich and respected history serving builders, contractors, and homeowners throughout Massachusetts,” said Keith Broyles, Senior Vice President, Team Lead, Business Credit at Salem Five Bank. “Our Business Credit and Treasury Management teams collaborated closely with a goal to design a flexible financing structure that supports Concord’s strategic objectives while providing the flexibility needed in today’s market and positions the company for continued success and growth.”

About Concord Building & Design
Founded more than 80 years ago, Concord Building & Design is a Massachusetts-based supplier of lumber, building materials, millwork and related products serving professional contractors, builders, and homeowners. Headquartered in Littleton, Massachusetts, the company is committed to delivering quality products, exceptional service, and trusted expertise throughout the region. Concord Building & Design Center operates two lumberyards, Concord Lumber & Building Center locations, Concord Millwork & Design Center, Concord Kitchen & Design Center and seven ColorWorks Paint & Decorating Centers.

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 more than $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, which offers fiduciary wealth management services to institutions and high-net-worth individuals, financial and retirement income planning, portfolio review and money management; 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.

FOR MORE INFORMATION

(800) 850-5000
PR@Salemfive.com