Banking and Lending
Personnel File – No. 420
From new VPs to fresh project managers, see who’s been hired, promoted and honored: It’s our weekly Personnel File roundup.
Mortgage Rates Are Tumbling. Will Anyone in Mass. Benefit?
Massachusetts renters struggle to become first-time homebuyers, but the recent downward trend in mortgage interest rates will help the richest ones most if it continues.
End of a Momentous Chapter for PeoplesBank
As CEO of PeoplesBank, Tom Senecal has led the mutual bank through some huge changes in the last 10 years, and helped set its course for the future.
When Does Refinancing Make Sense?
Homeowners eager for mortgage rates to dip so they can refinance their places may have to wait quite a bit longer.
Massachusetts Bankers Testify for Financial Literacy Requirement
Over 200 Massachusetts banks have come together with hopes of making personal finance education a state high school graduation requirement.
Community Good Works
Eastern Bank gave the Braintree Little League program a $10,000 gift to mark the first time in history its 12-year-old players made it to the Little League World Series during an epic series of wins this year. See who else gave back.
Fed Sticks with Quarter-Point Rate Cut
Citing slowing economic growth and a weakening job market, the Federal Reserve announced a quarter-point cut to its benchmark interest rate Wednesday.
125 Affordable Apartment Units Financed in Everett
MassDevelopment has issued a $34.31 million tax-exempt bond to finance the first all-affordable building in Everett’s Commercial Triangle neighborhood.
Personnel File – No. 419
From new VPs to fresh project managers, see who’s been hired, promoted and honored: It’s our weekly Personnel File roundup.
Hanscom FCU CEO Testifies Before U.S. Senate
Hanscom Federal Credit Union President and CEO Peter Rice called on lawmakers to not expand federal deposit insurance incautiously.
Mass. Banks, CUs Turn to AI in Search of Advantage
More consumers are turning to artificial intelligence for financial advice. That’s pushed local credit unions and community banks to use AI to gain a competitive edge.
M&T Bank CEO Looking for More M&A
Speaking at an event in Boston, M&T Bank CEO René Jones predicted more M&A activity in the Northeast – including some driven by his own institution.
PeoplesBank Converts to Cloud Platform
PeoplesBank says it’s become the largest U.S. community bank to fully operate on a cloud-native core banking platform after successfully converting to the Nymbus Banking Platform.
Rockland Trust Adds New Training Facility and Call Center
Rockland Trust announced it will be expanding its office space in Brockton to add a new training facility and call center.
Personnel File – No. 418
From new VPs to fresh project managers, see who’s been hired, promoted and honored: It’s our weekly Personnel File roundup.
September Rate Cut Will Be Felt in CRE Refi Market
A highly anticipated rate cut in September will help Massachusetts developments looking to refinance debt, but bankers don’t expect much immediate impact on loan pricing.
New CEO Takes Baton on Cape Cod
Erik Porter has big shoes to fill when he succeeds The Cooperative Bank of Cape Cod President and CEO Lisa Oliver upon her retirement in October.
What Happens When You Lie on Your Loan Application
Even if you are not prosecuted, if your lender finds out you equivocated, they can call your loan due and payable on the spot.
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.
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