As one of only five Massachusetts banks with less than $100 million in assets to survive in the competitive world of Massachusetts banking, Millbury National Bank is focusing on lines of business it already knows well.
When companies can’t make their loan payments, that’s when bankruptcy attorneys like Andrew Lizotte step in. His experience has gained him expertise on how bankruptcies can be solved, and how banks can make their loans wisely.
SI Financial Group, the parent company of Willimantic-based Savings Institute Bank and Trust, disclosed yesterday that Parshall is suing the company in Baltimore County Circuit Court for breaching their fiduciary duties to its stockholders in connection with its impending acquisition by the parent company of Boston-based Berkshire Bank.
Hometown Financial Group continues to shop aggressively as it announced today that it will merge with and absorb Millbury Savings Bank into its subsidiary, Oxford-based bankHometown.
Despite reported issues with former longtime President and CEO Michael Daly, who resigned last November, the board of directors of Berkshire Bank and its parent company seems to have confidence in the company’s executive team.
In the world of fintech new startups, especially those looking to work with financial institutions, are limited by the decades-old technology in banks’ core processors. To win, they have to play by different rules.
Berkshire Bank has received approval to close four of its branches in New York state, according to a recent activity report from the Massachusetts Division of Banks.
Networking is big in the banking industry – just ask Paul Kelly. His career didn’t start in the classroom or during an internship, but instead was launched straight out of Fenway Park.
Bank industry groups and experts have long argued that the small number of core processing companies in the industry have stifled innovation at financial institutions, particularly at smaller banks with limited resources.
JPMorgan Chase opened its first retail branch in the city of Boston earlier this week, and it is clearly not afraid to flex its muscles.
North Andover-based Northmark Bank received poor marks on its latest Community Reinvestment Act grade.
When Berkshire Bank’s longtime President and CEO Michael Daly abruptly left the bank at the end of November, a storm of questions followed from the media, analysts and other stakeholders. But the departure also put an acquisition that Berkshire had been close to announcing at the time in flux.
Rockland Trust will close at least three branches as part of its acquisition of Blue Hills Bank.
Commercial and industrial lending, typically a strong indicator of how the economy is doing, surged in the fourth quarter of 2018, but the Federal Reserve is signalling it may hold off on future interest rate hikes.
Hometown Financial Group is not wasting any time. A week after completing its nearly $54 million acquisition of Cohasset-based Pilgrim Bank, the mutual holding company has already announced another merger.
Hometown Financial Group has received all necessary regulatory approvals and completed its acquisition of Cohasset-based Pilgrim Bank.
Rockland Trust is planning to lay off 80 people from Blue Hills Bank once it completes its acquisition of the company, as a result of duplicate back office jobs that Rockland already has filled and does not need additional staff for.
New CEO and President Anthony DeChellis continues to mix up the senior management structure at Boston Private, this time creating a new role to oversee technology and operations at the bank.
The popular outdoor pavilion that has hosted some of Boston’s biggest concerts has a new name, courtesy of its new owner.
It isn’t the largest community bank, and it isn’t racking up acquisitions, but The Hingham Institution for Savings has managed to do something incredible: It has lowered its efficiency ratio to slightly below 30 percent.
