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Brookline Bank has hired David Paikin to head the bank’s new lending office in Wakefield that will focus on commercial and industrial clients.
“We see great commercial banking opportunities for Brookline Bank in markets north of Boston and we are so pleased to have David take on the important role of expanding our presence there,” Darryl Fess, president and CEO of Brookline Bank, said in a statement. “He is an established banker in the region and deeply connected in the community. David is a proven leader and relationship builder who will meet the needs of new and existing customers.”
Paikin has over 35 years of experience in asset-based lending. Prior to joining Brookline Bank, Paikin was senior team member and business development executive at leading Boston-area financial institutions. Paikin is a director and serves on the Loan Review and Loan Committees of the New England Certified Development Company, an organization that provides SBA 504 loans to businesses throughout New England.
As a whole, Massachusetts is coming off a strong year of C& lending.
All banks in the state saw C&I loan volume increase from roughly $14.3 billion at the end of the third quarter of 2016 to $16.2 billion at the end of the third quarter of this year, according to FDIC data.
At all state-chartered banks, loan volume grew from $13.9 billion in the third quarter of 2016 to about $15.7 billion at the end of the third quarter of this year.
Brookline saw its total C&I lending volume jump $78 million year-over-year, and believe the region north of Boston is home to a range of small and large businesses with diverse banking needs.
While not all banks in the state have seen positive C&I growth, many believe the strengthening economy may spur more business investment.
“Spending by businesses and business activity should continue to increase both toward the end of this year and into next year,” Christopher Geehern, executive vice president of marketing and communications at the Associated Industries of Massachusetts, recently told Banker & Tradesman.
