Central Massachusetts finance industry veteran Don Doyle knew banking was the right sector for him when he saw he could make positive change in the community. Marrying Webster Five’s business goals with a mission to help the community is what makes him a standout leader today.
Webster Five, which relocated its headquarters from Worcester to Auburn in July 2021, has assets of $1.1 billion, according to Federal Deposit Insurance Corp. data. Even as rising interest rates have sent the industry into turmoil, the 156-year-old bank had record profits last year. The bank reported deposits of $933 million in 2023, and continued its robust grantmaking, issuing 54 grants totaling $250,000 to area nonprofits. Additionally, the bank donated $150,000 in corporate sponsorships, supporting everything from athletic teams to the arts and education and even heating assistance.
Having signed a pledge to support diversity, equity and inclusion in 2020, Webster Five has made a concerted effort to support inclusive entrepreneurship through its charitable giving, supporting organizations such as Entrepreneurship for All, which aims to help women, people of color and immigrants on the path to business ownership, and African Community Education in Worcester for youth and community outreach and workforce development programs to help African-born immigrants and refugees.
For its community impact, Webster Five was given an outstanding rating for community investment by the Massachusetts Division of Banks and the FDIC.
“That we help small businesses launch, families reach financial security, first-time homebuyers realize their dreams, and enable nonprofits to continue their missions is invigorating,” Doyle said.
