Consumer Debt Growth Slowed in February
Total consumer debt among all Americans grew $15.2 billion in February, which was a slower rate than growth in January, according to recent data from the Federal Reserve.
Century Bank Founder and Chairman Marshall Sloane Dies
Marshall Sloane, founder and chairman of Medford-based Century Bank, died on Saturday at the age of 92.
New Standards Expected to Depress FHA Mortgage Activity Among Small Lenders
New underwriting standards at the Federal Housing Administration fueled by worries over declining loan quality are threatening to restrict access to FHA loans for riskier borrowers across the country. Local lenders say new products from Fannie Mae and Freddie Mac may have contributed to the situation.
People’s United Closes on Belmont Savings Acquisition
The parent company of People’s United Bank has closed on its merger of the parent company of Belmont Savings Bank, BSB Bancorp reported in a regulatory filing this morning.
Fed’s Decision to Pause Rate Hikes Could Lead to Spread Compression
While the Federal Reserve’s recent forecast of no more rate hikes in 2019 will result in some desired relief on deposit pressure at community banks, it could also spell trouble in the form of additional spread compression.
Approaching the Local Zoning Board
If you’ve got a question about zoning laws in Massachusetts or what to do before appearing in front of a local zoning board, Barry Crimmins is your man.
Envision Bank Plans Four New Loan Production Offices
Despite trouble reaching profitability, Randolph-based Envision Bank is not giving up and turning toward growth mode.
Rockland Trust Parent to Close on Acquisition of Blue Hills Bank April 1
The parent company of Rockland Trust has received all regulatory approvals and will close on its acquisition of the parent company of Blue Hills Bank on April 1, both companies said in a joint statement yesterday.
Nine Months Out, Banks Moving Slowly on CECL Implementation
With less than one year to go, most public banks appear to still be in the formative stages of implementing a new nationwide accounting rule, while at the same time trying to assess its impact on their consolidated financial statements.
Boston Private Adds Two Citigroup Executives
Out with the old and in with the new. That seems to be the approach Anthony DeChellis has taken since becoming the new president and CEO of Boston Private, and it shows no sign of abating.
Berkshire Bank’s Chief Human Resources Officer Resigns
Since taking over at the end of last year, Berkshire Bank’s President and CEO Richard Marotta has made it clear he wants to focus on workplace culture, diversity and inclusion.
Fintechs Face Lack of Coordination Among Regulators
Various agencies in Massachusetts have begun to take different – and often independent – steps to provide further clarity on fintech regulation.
The Case for Narrow Banking
When the Federal Reserve began paying interest on reserves, James McAndrews saw an unmet demand in the institutional investor marketplace for a safe deposit service that would pay a more competitive interest rate. From this has sprung McAndrews’ latest venture, TNB USA Inc.
Radius Bank Decides Not to Pursue State Charter
Radius Bank is reversing course on a prior decision to switch charters.
MA Private Equity CEO Named in Sweeping College Admissions Conspiracy
Celebrities are not the only people being charged in yesterday’s bombshell report alleging cheating and bribery in the college admissions process.
New CEO Sets Berkshire Bank on Different Strategic Path
With former CEO Michael Daly’s departure now months in the past, the path forward for Berkshire Bank is beginning to come into focus.
Small Dollar Loans Driving Commercial Lending at Community Banks
Although the real estate market is deep into the current cycle, commercial lending did not falter in 2018 and banks were able to achieve strong results by staying in their lanes and sticking to the individualized strategies they have spent years building.
Banks Need to Take the Lead to Make Fintech Mainstream
I spent a few weeks last month examining the love triangle between community banks, fintechs and the companies that provide banks with the core processors they need to make daily loan, deposit and credit transactions.
Shakeup at Boston Private as Longtime Execs to Leave Company
Since new CEO Anthony DeChellis came aboard, Boston Private’s executive team has gone through a number of changes. But up until this point, it has been mostly through new hires and positions.
Parent Company of HarborOne Bank Planning Second Step Conversion
The parent company of Brockton-based HarborOne Bank will become a fully stock-owned company.
