PeoplesBank President Hints at Eastern Mass. Expansion
PeoplesBank President and CEO Brian Canina says the Holyoke-based bank is eyeing Eastern Massachusetts growth in the coming years.
Personnel File – No. 428
From new VPs to fresh project managers, see who’s been hired, promoted and honored, it’s our weekly Personnel File roundup.
Others’ Mergers Create an Opening
When Amesbury-based BankProv came up for sale, Needham Bank faced plenty of competition. Deal in hand, CEO Joseph Campanelli said, his bank is looking forward to “a lot more synergies than we anticipated.”
Small Mass. Banks, CUs Face Heavy Tech Lift
Monopoly power isn’t just lurking in consumer prices. Data shows smaller lenders face disproportionately high – and rising – costs for their operating system software.
Down Payment Assistance Program Celebrates First Year of Operation
The Massachusetts Housing Partnership’s newest mortgage program has served 255 first-time homebuyers and dispersed $8 million in down payment help its first year of operation.
Community Good Works
Employees at Clinton Savings Bank gathered 65 new and gently-used coats for Clinton residents in need as part of the bank’s annual coat drive. See who else gave back.
MountainOne-Mechanics Cooperative Merger OK’d
North Adams-based MountainOne Bank and Taunton-based Mechanics Cooperative Bank have received all regulatory approvals required to complete the merger of their mutual holding companies.
Members Approve BrightBridge Credit Union and Arrha Credit Union Merger
The members of BrightBridge Credit Union and Arrha Credit Union voted in favor of merging following separate member votes at each credit union’s corporate headquarters.
Feds Boost Mass. Conforming Loan Limit to $832K
The Federal Housing Finance Agency is increasing the size of home loans that the government can guarantee against default as it takes into account rising housing prices.
Webster First Names First-Ever Chief Human Resources Officer
Erin Jansky was recently promoted to the position after joining the credit union in October 2024
Healey Includes Financial Literacy in Proposed State Graduation Standards
Financial literacy programs would be required in every Massachusetts public school system under a statewide graduation standards framework Gov. Maura Healey proposed Monday.
Allston Yards Apartments Get $90M Financing Deal
After beginning lease-up in mid-2024, the first residential tower at the Allston Yards development received $90 million in financing last week from Pacific Life Insurance Co.
CRE Lending Pullback on Horizon?
Anxiety about an economic downturn is everywhere this fall. And if one hits, expect both traditional financial institutions and private lenders to take a step back from commercial real estate.
Mutual Holding Company Deals Hit Milestone
With its pending acquisition of Bluestone Bank, Mutual Bancorp will become the largest mutual holding company in Massachusetts but is operating in a relatively unique way under CEO Matthew Burke.
Community Good Works
Bristol County Savings Bank announced its foundation was making a $25,000 grant to support the “revival” of the library at New Bedford’s Alfred J. Gomes Elementary School. See who else gave back.
Fed Releases New Guidance for Bank Oversight
The Federal Reserve’s top banking regulator on Tuesday released new guidelines for the agency’s supervision of the financial system, earning praise from industry trade groups and criticism from her predecessor.
BankProv Branches to Rebrand as Needham Bank Completes Merger
Needham Bank and BankProv announced that the merger of their mutual holding companies has been completed.
Personnel File – No. 427
From new VPs to fresh project managers, see who’s been hired, promoted and honored: It’s our weekly Personnel File roundup.
Community Good Works
Banks took the Trump administration’s cuts to federal food aid programs during the government shutdown as a signal to step up their giving to food pantries: $270,000 alone in direct response to the cuts. See who else gave back.
Salem Five Launches Private Banking Team with Ex-Enterprise Banker
Count Salem Five among the local banks now looking to high-touch, always-on customer service to generate more revenue from their best clients.
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