Information to keep you moving forward.

September 2023

Economic Insight

Economic Outlook for Fall 2023

Solid economic growth in the first part of the year, combined with decreasing inflation, led to strong returns thus far. Despite this, there is some volatility expected with a slower moving economy in the coming months. And a slower moving economy will be more sensitive to shocks and could be more susceptible to a recessionary environment. Sean Tesoro, President of Salem Five Wealth Management & Trust, gives an overview of what to expect this fall and how this affects finances and investments.

Watch video here

Sean Tesoro, Investment Services

Sean Tesoro, President
Salem Five Wealth Management and Trust

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Securities and advisory services are offered through LPL Financial (LPL), a registered investment advisor and broker/dealer (member FINRA/SIPC). Insurance products are offered through LPL or its licensed affiliates. Salem Five Bank and Salem Five Investment Services are not registered as a broker/dealer or investment advisor. Registered representatives of LPL offer products and services using the name Salem Five Investment Services, and may also be employees of Salem Five Bank. These products and services are being offered through LPL or its affiliates, which are separate entities from, and not affiliates of, Salem
Five Bank or Salem Five Investment Services.

Securities and insurance offered through LPL or its affiliates are:

  • Not Insured by FDIC or Any Other Government Agency
  • Not Bank Guaranteed
  • Not Bank Deposits or Obligations
  • May Lose Value

Grand Opening

New Retail Branch Location at Beverly Depot

Salem Five Bank opened its newest branch recently at 140 Rantoul Street in Beverly, to improve access to financial services in the city of Beverly. Moreover, the branch opens at 7:30 a.m. weekdays to better serve commuters using the MBTA station one block away. “This new location reinforces Salem Five’s commitment to the North Shore and, in particular, the people and businesses in downtown Beverly,” said Joseph F. Riley, executive vice president of Retail Banking at Salem Five. The branch is managed by Brad Hunt, a vice president in Salem Five’s Retail Division. In addition to traditional branch services, the location has a coin counting machine and a 24-hour ATM.


Salem Five Beverly Depot grand opening branch location

Charitable Giving

Salem Five Continues Support of Critical Non-Profits

Food insecurity is an ongoing issue throughout the North Shore and affects people of all ages. Salem Five has been committed to helping area non-profits whose mission it is to source, supply and distribute fresh, healthy food to those in need. Recently, we made a significant contribution to The Salem Food Pantry. This donation provides funding for much-needed “orchard bins” which display fresh local produce allowing self-choice shopping and helping reduce any stigma attached to receiving free food assistance. These bins are located in the Pantry’s new, permanent location “The Market” in The Point on Congress Street. Salem Five’s contribution not only provided funding for these over-sized bins, but also supports a new guest greeter and intake station at The Market as well as other equipment for delivery of the produce. Salem Five is proud to help The Salem Food Pantry and fully supports their mission to the residents in Salem, Lynn and beyond. Recently, our Commercial Underwriting team even volunteered their time helping out in the Pantry. This is just one example of Salem Five’s commitment to our communities.

Salem Five employees donating to Food Pantry
Food Pantry worker adjusting fruit display
Food Pantry Employees Smiling

New Campaign

Woman standing in water with traps

At Salem Five - We're Your Partners in Persistence

At Salem Five, we know what it takes – to buy a home, to build a business, to manage your finances. And Salem Five, like New Englanders, gets things done. We keep at it, finish what we start and not sit still. There’s always the next move and here to help you make it, is a company with that same commitment.

Our new advertising campaign captures this New England resilience and showcases that with Salem Five, you have Partners in Persistence. Look out for TV commercials on NESN and other networks and streaming services; highway billboards, digital banners and audio on Pandora. Click here to see the TV commercial and more.