Personnel File – No. 262
From new VPs to fresh project managers, see who’s been hired, promoted and honored: It’s the 262nd installment of Banker & Tradesman’s Personnel File.
Cambridge Trust Expands Wealth Services to CT With People’s Hire
Cambridge Trust Co. plans to expand its wealth management business into Southern Connecticut as the bank brings on five new employees from People’s United Bank, a sign of the type of move local banks might make amid the disruption resulting from this year’s mergers and acquisitions.
Cambridge Trust Optimistic About Loan Growth
While the deposit surge during the pandemic has left many banks dealing with more liquidity but fewer opportunities for lending, Cambridge Trust Co. remains optimistic about loan growth and continues to seek new deposits.
MHP Gets $110M Commitment from Cambridge Trust
One of the state’s two major affordable housing and homeownership finance organizations has landed a major contribution that it says will help support a range of housing priorities.
Cambridge Trust CEO Sees Limited Opportunity for M&A
With several of Greater Boston’s stock banks involved in mergers this year, Cambridge Trust Co. is ready to join in on the activity. But the bank’s leader sees few opportunities ahead.
Cambridge Trust Increases Dividend 11 Percent
Cambridge Trust Co. had first quarter net income of nearly $13.5 million, or diluted earnings per share of $1.92, compared to fourth quarter net income of $13.01 million, or diluted earnings per share of $1.86.
Local Banks Plan Stock Repurchases
The parent company of The Provident Bank, rebranded last year as BankProv, has adopted a new stock repurchase program, one of several local banks planning to repurchase shares this year.
Banks See Improvements with COVID Loan Deferrals
Massachusetts stock banks fourth quarter earnings results continue to show improvements in COVID-related loan modifications.
Thompson to Retire From Cambridge Trust
Long-time local banker and Cambridge Trust Co. President Mark D. Thompson will retire at the end of the year.
Firms Turn to Banks for Working Capital
The COVID-19 pandemic has pushed lenders into an unfamiliar space as they continue to try and meet their customers’ needs for working capital as payment cycles get disrupted.
Local Banks, Companies Join Voting Coalition
Several local banks have joined an initiative to increase voter registration and participation in the U.S.
Four Banks Join Boston’s New Mortgage, Down Payment Program
It is hoped the program will give city families and residents who earn area median income or below a leg up on all-cash buyers in the city’s expensive housing market.
Banker & Tradesman’s Editorial Cartoon: Sealed with a ‘Footshake’
In the age of coronavirus, bank merger deals have to be solemnified with a brand-new gesture.
Cambridge Trust, Wellesley OK’d to Merge June 1
Two community banks plan to go ahead with a merger even as the coronavirus pandemic has seen bank operations focus on customers affected by the economic crisis.
First Quarter Stock Market Showed in Banks’ Wealth Management Performance
As stock markets reacted to the coronavirus crisis in late February and March, community banks with investment management divisions felt the effects, with assets under management declining during the first quarter.
Wellesley-Cambridge Trust Merger the Latest Shareholder Lawsuit Target
A bank shareholder known for filing merger-related lawsuits targeted the proposed Cambridge Trust Co. and Wellesley Bank deal.
Cambridge-Wellesley Merger Opens Up Wealth Management Opportunities
When Cambridge Trust Company acquires Wellesley Bank next year, the private bank will finally have a foothold in a market close to – but just outside – its reach.
Cambridge Trust-Wellesley Bank Merger Worth $122M
Cambridge Trust Co., will pay $122 million when it acquires Wellesley Bank in an all-stock transaction. It will be Cambridge Trust’s second merger of the year.
Consolidation Continues in Banking Industry
The year 2018 was filled with mergers and acquisitions between publicly traded banks, mutual banks and credit unions. In total, there were 16 mergers and acquisitions announced this year, as the banking industry in Massachusetts continued to consolidate.
Cambridge Bancorp Taps ABL Veterans To Head New Practice
Cambridge Bancorp recently announced two recent hires to head up its new asset-based lending practice.
