Cochran Retires as Jeanne D’Arc Credit Union President and CEO
Under his 17 years at the helm, Mark S. Cochran doubled the credit union’s membership to 100,000, increased staffing by 48 percent and grew assets from $600 million to $2.1 billion.
A Helmsman for a Strategic Expansion
North Easton Savings Bank is looking to diversify its lending business by building out its roster of small business and nonprofit clients. It’s charged Chief Lending Officer Ralph Letner with making that happen.
Community Benefits Agreements ‘Good Business’ for Banks
TD Bank recently announced it was planning to spend $20 billion on a community benefit plan aimed at helping low- to moderate-income and minority communities in Boston and elsewhere. So, how are these big plans crafted, and where exactly do these funds go?
MountainOne Insurance Acquires G.W. Morisi Insurance Agency
MountainOne Insurance Agency, a subsidiary of MountainOneBank based in North Adams, has expanded its customer base in Western Massachusetts by acquiring G.W. Morisi Insurance Agency, Inc..
Citizens Bank Hires Two Private Banking Execs, Opens Boston Office
After launching its private bank and hiring around 200 bankers last year, Citizens Bank is hiring two key executives to further grow its wealth management business.
Needham Bank, Parent Firm Appoint New CFO
Needham Bank and its holding firm NB Bancorp Inc. appointed a new chief financial officer, Jean-Pierre Lapointe, effective Feb. 1.
Mass. Bankers Supports Lawsuit Over ‘Counterproductive’ CRA Rules
The Massachusetts Bankers Association is voicing support for a lawsuit filed by national bank trade groups earlier this week over stringent and what the national groups call “counterproductive” changes made to Community Reinvestment Act rules.
Chase Ups Mass. Expansion Plan to 110 Branches by 2027
From previously targeting to open 90 branches, JPMorgan Chase has set a new expansion goal of 110 branches in Massachusetts by 2027 bank executives express optimism about branch-based growth in the state.
TD Bank to Open Nubian Square Branch in the Fall
After announcing a $20 billion “community investment plan” in five metro areas, including Boston, TD Bank said it will open a branch in Nubian Square in Roxbury in the fall as a part of an effort to serve low- and moderate-income individuals and families, and minority communities.
How Chief Risk Officers Guard Banks’ Credit Quality
As the industry faces the risk of loan delinquencies amid a high interest rate environment, inflationary pressures and more vacancies in office properties, Massachusetts’ community banks are promoting risk officers into their executive leadership teams to guard against credit risks.
Rollstone Bank & Trust Appoints New COO
Rollstone Bank & Trust has appointed a new chief operating officer and promoted five other employees in the bank.
Brookline Bancorp Exec Sees Opportunity Large Banks’ Lending Pullback
Brookline Bank has grown its loans by 26 percent from the fourth quarter of 2022 to the fourth quarter of 2023 and is looking to grow its loan portfolio more this year as large banks pull back their lending in New England markets.
Enterprise Bank Q4 Profits Down on Higher Deposit Costs
Lowell-based Enterprise Bank saw net income in the fourth quarter decrease to $7.9 million from $9.7 million in the third quarter as the cost of high-interest deposits– primarily in its money market and certificates of deposit products – offset the gains from yields in assets.
Mortgage Company Drags Down HarborOne Bank’s Q4 Profit
HarborOne Bank recorded a net loss in the fourth quarter of the year as a challenging mortgage market forced it to record a goodwill impairment charge at its mortgage company subsidiary.
National Survey Finds Bank Execs Worried About CFPB Small Biz Data Rule
Sixteen percent said in a new survey that they may lower small business lending due to anticipated higher costs from the rule.
Lower Costs Improve Q4 Profits for Cambridge Trust
Cambridge Trust recorded a $2.7 million decline in non-interest, non-recurring expenses which resulted in a higher net income in the fourth quarter.
SVB Loans, Deposits Shrank in Q4
Silicon Valley Bank recorded lower deposits and loans in the fourth quarter of last year as the nation’s innovation economy continues to suffer under the weight of higher interest rates and investor expectations.
Country Bank Appoints First Female President
Country Bank has appointed current Chief Financial Officer and Chief Operating Officer Mary McGovern as its new president, effective April 1.
Cyberattacks on Mortgage Companies Put Focus on Threat’s Increase
Successive and dramatic cyberattacks brought down systems at major mortgage lenders and financial firms in the last two months, highlighting the dangers Massachusetts financial institutions say they face every day.
Keeping It Safe in an Uncertain Time
Richard “Dick” Kelly has been in banking for 40 years, and is putting that experience to the test as he steps into his latest role at MountainOne Bank – at a time when lenders everywhere are keeping a watchful eye on their commercial borrowers.
