Leader Bank marked its 10th anniversary on May 8. The bank first opened for business on May 8, 2002 at its East Arlington branch. At the time, the bank had seven employees and $6.5 million in assets. A decade later, Leader Bank has grown exponentially, operating five branches and two loan production offices, with over 170 employees in Massachusetts and $535 million in assets.
“We are extremely pleased to reach this historic milestone,” said Sushil K. Tuli, president, CEO and founder of Leader Bank. “Our growth story is nothing short of remarkable as evidenced by the Bank’s consistently strong performance. Leader Bank’s success is the result of our dedicated employees identifying market opportunities while delivering the highest quality of service to our customers.”
According to Tuli, the bank has made great strides to serve the businesses and residents of Massachusetts over the past decade, including focusing on commercial and small business lending, participating in both the Small Business Administration Lending Fund Program and the Massachusetts Small Business Partnership. In particular, Leader Bank made over $16 million in small business loans in 2011, which resulted in the creation of over 100 new jobs in the Commonwealth, Tuli added.
Leader Bank has also loaned over $3.5 billion in residential loans since January 2010.
Leader Bank is consistently recognized as one of the nation’s top community banks.
“As we celebrate our 10th anniversary, I want to thank our employees for their commitment to our mission of providing quality banking and lending services and our Board of Directors for their continued valued guidance,” said Tuli. “Most importantly, however, I want to thank our devoted customers for the trust they have placed in Leader Bank over the past ten years, and we look forward to serving them in the decades to come.”
Leader Bank is a nationally chartered bank that currently has five full service branches in Massachusetts in Arlington, Belmont, Burlington and Cambridge. Leader Bank offers a full range of personal and business banking products including free personal and business checking accounts, commercial and residential lending products, home equity lines of credit, and free online banking and bill payment services.