Community Good Works
Eastern Bank employees volunteered to stack shelves, pack grocery bags and unload a 13,650-pound shipment of produce at Catholic Charities South’s Brockton food pantry. See who else gave back.
Community Good Works
Colonial Federal Savings Bank made a $100,000 unrestricted donation to NeighborWorks Housing Solutions, a South Shore affordable housing developer. See who else gave back.
Colonial Federal Savings Bank Acquired by Hometown Financial
Hometown Financial Group has completed its acquisition of Colonial Federal Savings Bank, the holding company’s eighth merger in a decade.
Hometown Financial Doesn’t Rule Out Continued Expansion
Even with the ink still not dry on its agreement to acquire Colonial Federal Savings Bank, Hometown Financial Group’s CEO says the mutual holding company wants to grow further.
Community Good Works
Nine banks and construction firms came together to raise $265,000 for one of the biggest housing and homelessness services providers serving the southern Greater Boston area. See who else gave back.
Higher Deposit Costs Drag Profits at Four Mass. Banks
BankProv, HarborOne, Westfield Bank and Colonial Federal Savings all suffered from lower profit margins in the second quarter amid the high interest-rate environment and tight competition for deposits.
Colonial Federal Savings Sees CRE Loan Growth
The parent company of Quincy-based Colonial Federal Savings Bank has seen three straight quarters with positive income after recording a loss of $828,000 in the first quarter of 2022, when the bank had a partial initial public offering and used some of the proceeds for a donation to its new charitable foundation.
Colonial Federal Savings Bank Had Positive Second Quarter Earnings
In its first full quarter since partially converting to a stock bank, Quincy-based Colonial Federal Savings Bank saw positive earnings after a first quarter earnings loss driven by a donation to its new charitable foundation.
Colonial Federal’s Donation Causes First-Quarter Loss
In a quarter that included its partial conversion to a stock bank, Quincy-based Colonial Federal Savings Bank saw a first quarter earnings loss, driven by a donation to its new charitable foundation.
Colonial Federal Saw Fourth Quarter Earnings Increase 8 Percent
In its first quarterly earnings statement since partially converting to a stock bank, Quincy-based Colonial Federal Savings Bank reported fourth quarter earnings of $234,000, an 8 percent increase over the fourth quarter of 2020.
Colonial Federal Savings Completes Partial Conversion to Stock Bank
Quincy-based Colonial Federal Savings Bank has completed its partial conversion to a stock bank, and the company’s stock began trading on the Nasdaq exchange today.
Depositors Approve Colonial Federal Savings’ Reorganization
Colonial Federal Savings Bank has received depositor approval to reorganize its company structure as the bank moves ahead with plans to raise capital by partially converting to a publicly traded bank.
