Seeing Opportunity in Main Street
East Cambridge Savings Bank Chief Lending Officer Tim Bombard sees opportunity in the Main Street Lending Program where many other financial institutions don’t.
Boston Fed Chief: Fed’s New Loan Program Could Aid a Slow Recovery
The president of a regional Federal Reserve bank that will oversee a groundbreaking business lending program said Wednesday that he thinks a slower-than-expected recovery from the economic downturn would lead companies to seek critical support from the program.
Virus Starts to Take Toll on Bank Earnings
With banks starting to release first quarter earnings this week, early results show the potential extent of the coronavirus’ impact on both local community banks and international titans of finance.
Hotels Expected to Lead Commercial Loan Defaults
Economic disruption associated with the COVID-19 pandemic will hit the hotel sector hardest of any commercial real estate sector with nearly 35 percent of mortgages likely to default by 2024, according to an analysis released this week.
Banks Face Familiar Obstacles to Evolve Small Business Lending
Small businesses often turn to community banks for business needs because of the relationships developed with bankers. But customers have come to expect even from their local bank the same conveniences made commonplace with technology.
East Boston Savings Bank Reports Record Fourth Quarter Earnings
East Boston Savings Bank’s fourth quarter net income increased a record 38 percent compared to the fourth quarter of 2018, the company reported this week.
Amid Mergers, People’s United Income Grew $52.3M in 2019
Following a year that included the acquisitions of United Bank and Belmont Savings Bank, Bridgeport, Connecticut-based People’s United Bank reported net income for 2019 of $520.4 million.
Participating Loans Give Lenders a Share of the Upside
For more highly leveraged projects, some lenders offer “participating loans,” where borrowers pay additional interest tied to cash flow or appreciation. What do you need to know about them?
Financing for Fresher Lettuce
As a longtime operator of agribusinesses, Paul Sellew recognized a need for
better quality lettuce in New England. He turned to Bank of America for an
$18 million loan to take advantage of that opportunity.
Easthampton Attorney Admits Defrauding Commercial Lenders
An Easthampton attorney pleaded guilty last week in Springfield federal court to numerous financial fraud charges, including schemes to defraud commercial lenders.
Low Interest Rates Spur Commercial Refis
Just as low interest rates have spurred the mass-refinancing of residential mortgages, commercial property owners have also taken advantage of the rate environment, creating opportunities for lenders in Greater Boston’s competitive market.
Rockland Provides $12.6M Financing for New Bedford Distribution Center
Plumbers’ Supply Company recently held a ribbon-cutting ceremony at its new headquarters and distribution center in New Bedford.
Berkshire Bank Faces $16M Exposure After Commercial Loan Defaults
Berkshire Bank is facing $16 million in exposure following “potentially fraudulent activity” by one of its commercial loan customers.
People’s United Expands Commercial ABL Operations
People’s United Bank has named Patrick Lee head of a newly formed lender finance team, an extension of the bank’s existing asset-based lending group. The move expands People’s United’s commercial specialty lending business.
Rockland Trust Adds Four to Worcester Team
Rockland Trust is adding four new members to its Worcester team.
Small Dollar Loans Driving Commercial Lending at Community Banks
Although the real estate market is deep into the current cycle, commercial lending did not falter in 2018 and banks were able to achieve strong results by staying in their lanes and sticking to the individualized strategies they have spent years building.
Brookline Bank Grows Wakefield Team
Brookline Bank is bulking up its commercial lending team north of Boston.
Wells Fargo Loses Steam in Commercial Lending as Rivals Pounce
Wells Fargo & Co.’s two biggest competitors have been nabbing market share in lending to commercial and industrial customers in the American heartland, a sign of how difficult it has become for the scandal-tarnished bank to defend its position against rivals.
With Record Earnings, Brookline Bank Prepares To Expand Commercial Lending
Growth in deposits and lending powered Brookline Bancorp, the holding company of Brookline Bank, to record earnings in the second quarter, as it prepares to greatly expand its commercial lending portfolio.
HarborOne Posts $2.9M In Q4 Net Income
Commercial lending boosted earnings at HarborOne Bancorp in the fourth quarter.
