Word: bayes
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Dates: during 1980-1989
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Between them, the seven hold close to a billion dollars in accounts with members of the Harvard Square community. In both volume of trasactions and customer market share. Bay Bank stands as the undisputed ruler of the Harvard Square territory. Donald H. Tavel, vice president of the Harvard branch, says the bank controls about 50 percent of all deposits in commercial banks in the Square (although three, including the large Cambridge Savings, are savings and not commercial...
...Bay Bank traces its success to its vast network of ATM units installed in the Square in 1977. With more than 200 locations in Massachusetts, any card holder can pick up cash in a pinch at Logan Airport for a spur-of-the-moment flight out of town, in the North End to see the Bruins play, or in downtown Wellesley to buy flowers...
Envious of Bay Bank's network, three of the six other banks in the Square have installed machines since 1977 (Coolidge Bank had the Square's original ATMs), and two of the other three are in the process of introducing them "Students love to play with machines," says Daniel Kellecher, managers of Charlesbank US Trust, which does not have them but is investigating the possibility...
...Bay Bank and Cambridge Trust draw almost uniform praise from their competition for providing efficient service. Bay Bank's appeal rests in the sheer size and breadth of its ATM network. while Cambridge Trust benefits from many longstanding ties with the Square community...
...local bank officer characterizes Cambridge Trust as "the carriage-trade bank" because of their more affluent clientele, although the generalization seems to apply even more broadly to Cambridge Savings. The same official applauds Bay Bank's diverse community appeal, saying. "A former president of Bay Bank once said he catered to both sides of the street the Brattle St. neighborhood and the rest of Cambridge...