Banking and Lending
Community Good Works
GFA Federal Credit Union, based in Gardner, announced a $75,000, three-year gift to Heywood Hospital, also in Gardner, beginning with an initial $25,000 donation this year. See who else gave back.
PeoplesBank CEO Tom Senecal Announces Retirement
After 30 years at PeoplesBank, chairman and CEO Tom Senecal announced that he will retire at the end of 2025.
Institution For Savings Partners with Salem State University
After working with local high schools, Institution For Savings has partnered with Salem State University to bring its “Credit For Life” fair to the collegiate campus.
Suffolk Downs’ Next Building Buoyed with HDIP Money
The long-awaited second building in HYM Investment Group’s massive Suffolk Downs development just notched another piece of its capital stack with state help.
Vineyard Affordable Housing Gets $31M Construction Loan
Rockland Trust provided a $31 million construction loan for what’s being billed as the largest year-round affordable housing development on Martha’s Vineyard.
Berkshire, Brookline Given Go-Ahead to Merge
Berkshire Bank and the multi-bank parent company for Brookline Bank announced they have received all required regulatory approvals to complete their $1.1 billion proposed merger.
Personnel File – No. 417
From new VPs to fresh project managers, see who’s been hired, promoted and honored: It’s our weekly Personnel File roundup.
Banks, Private CRE Lenders Eye Busy Fall
Expected Federal Reserve interest rate cuts have local bankers looking for ways to shave basis points off commercial real estate loan rates – and private lenders planning to defend market positions
Keeping Branches Relevant
As Citizens’ head of retail transformation, Karen Swiatocha plays a key role in the bank’s branch strategy. The bank recently opened its latest Massachusetts branch in Brockton.
Boston Seeks Affordable Housing Proposals, But Deadline’s Tight
Developers will have to scramble to meet the deadline for the city’s annual round of housing development if they weren’t expecting it.
Cooperative Bank of Cape Cod Names New CEO
The Cooperative Bank of Cape Cod has appointed Erik Porter to be its next president and chief executive officer. He will succeed current President and CEO Lisa Oliver upon her retirement in October.
St. Mary’s CU Names Former M&T Exec as New CEO
Former M&T Bank regional president Grace Lee is the new president and CEO of the Marlborough-based credit union.
Dedham Savings Names New President
Victoria Kane will become the 15th president in the institution’s nearly 200-year history and will be the first woman to hold this position.
Avidia Bank Could Lose $17M on Medford Lab Project
A failed Medford lab development provides a stark example of how Massachusetts’ rapidly retreating life sciences market left some developers and lenders high and dry.
Mass. Jobless Rate Holds Above National Average
Labor officials said unemployment stayed at 4.8 percent last month, while the national rate inched upward to 4.2 percent in the same span.
Personnel File – No. 416
From new VPs to fresh project managers, see who’s been hired, promoted and honored: It’s our weekly Personnel File roundup.
Talent Crucial for High-Performing Mass. Resi Lenders
Having the right talent, meeting customers’ needs and institutional investment proved crucial for Massachusetts’ fastest-growing mortgage lenders this spring.
St. Mary’s Credit Union Merging with MetroWest Community Federal Credit Union
Marlborough-based St. Mary’s Credit Union and Framingham-based MetroWest Community Federal Credit Union plan to join up.
Community Good Works
BankHometown, based in Oxford, announced a $5,000 gift to Ascentria Care Alliance to help the nonprofit move. See who else gave back.
Webster Five Names New CFO
Webster Five has named a new chief financial officer as it continues to add to its leadership team.
This Week’s Newspaper
