Belmont Savings Bank Parent Continues Healthy Growth
Despite a one time $2.63 million write down as a result of tax reform, Belmont Savings Bank’s parent company reported strong annual earnings and growth.
Westfield Bank Parent Reports Solid Annual Earnings, but Slow Growth
A $4 million write down as a result of tax reform wiped out profits for Westfield Bank’s parent company in the fourth quarter of 2017 after a year of slow growth.
Blue Hills Bank Parent Sees Strong Growth Due to Commercial Real Estate
Absent a fourth quarter that involved tax reform and pension settlement write downs, the parent company of Blue Hills Bank had a strong year driven by commercial real estate growth.
Mortgage Business Declines, Commercial Business Thrives at HarborOne Parent
The parent company of HarborOne Bank reported smaller profits in the fourth quarter of 2017, mainly due to continuing declines in mortgage originations, but greatly increased its profits on the year thanks to a robust commercial real estate portfolio.
Enterprise Bank Parent’s Margin Remains Strong, Company Reports Modest Gains
Enterprise Bank’s parent company reported net income of $19.4 million for 2017, an increase of $642,000 from 2016.
Berkshire Bank Parent Company Posts Loss in Q4
The parent company of Berkshire Bank reported a $2.8 million loss in the fourth quarter of 2017 after a $21 million write down on its deferred tax assets.
United Bank Parent Preparing to Add Branches to Boost Deposits
United Financial Bancorp, the parent company of Hartford-based United Bank, is planning to open more de novo branches in in 2018 in order to bring in more deposits to keep up with the bank’s loan growth.
Webster Bank on Pace to Hit $1B in New Deposits in Boston Market
Webster Bank’s plunge into the Boston market is continuing to prove fruitful for the $26.5 billion asset institution.
Despite Expenses, EBSB Parent Company Continues to Grow and Expand
Despite expenses related to tax reform and merger costs, the parent company of East Boston Savings Bank escaped 2017 with positive net income in the fourth quarter and strong growth on the year.
Rockland Trust CEO Still Hungry for Acquisition
Despite an additional tax expense of $2.37 million due to the new tax reform law, the parent company of Rockland Trust did not miss a beat in the fourth quarter of 2017.
Tax Reform Write-down Wipes out Century Bank’s Q4 Profits
The holding company of Medford-based Century Bank reported net income of just $25,000 for the fourth quarter of 2017, a 99.6 percent decrease from the same period a year ago when the bank reported $6.5 million net income.
Editorial Cartoon
Stress-induced aging is real; 2017 is proof.
State-Chartered Banks Increase Net Income; Assets Decline
State-chartered banks in Massachusetts collectively reported roughly $2.6 billion in net income through the first nine months of 2017, up about $353 million from the end of the third quarter of 2016.
Growth Slows At Melrose Bank And Pilgrim Bank
Growth at Pilgrim Bank and Melrose Bank, two banks that completed initial public offerings in 2014, has been slowing significantly over the last year and even more so this year, according to FDIC data and call reports.
Wellesley Bancorp Reports Q3 Earnings
Wellesley Bancorp, the holding company of Wellesley Bank, reported third quarter net income of $1.2 million, up more than $450,000 from the third quarter of 2016.
October Branch Activity From The DOB
Massachusetts Division of Banks’ report on branch activity in the month of October.
Since Completing Merger, Growth At Western New England Bancorp Flat
Since completing the merger of Chicopee Savings Bank into Westfield Bank last December, becoming the largest headquartered bank in Hampden county, total assets for holding company Western New England Bancorp have barely moved, growing just $10 million between Dec. 31, 2016, and the end of the third quarter.
Enterprise Bank Reports Positive Q3 Income, Opens 24th Branch
Enterprise Bancorp, the parent company of Billerica-based Enterprise Bank, reported third quarter net income of $5.5 million, or diluted earnings per share of $0.47, a 17 percent increase from the third quarter of 2016.
East Boston Savings Bank Pushes Ahead With Expansion Plans
Meridian Bancorp, the holding company of East Boston Savings Bank, continues to press ahead with its expansion plan after another strong quarter for the company.
Belmont Savings Bank Twice Receives National Recognition In Q3
BSB Bancorp, the holding company of Belmont Savings Bank, had its 17th consecutive quarter of organic income growth, while garnering some serious national recognition along the way.
