Century Bank Reports Record Earning in Q2 and Minimal Loan Growth
Despite minimal loan growth and a slight uptick in nonperforming assets and loan loss allowances, Medford-based Century Bank had another quarter of record earnings.
Berkshire Bank to Sell Mortgage Subsidiary, Exit Two Types of Lending
The parent company of Berkshire Bank is planning to sell off one of its mortgage subsidiaries and exit other non-strategic, non-relationship types of lending, as part of a broader strategic review the company began earlier this year.
East Boston Savings Bank to Grow to 40 Branches in 2019
East Boston Savings Bank plans to open new branches in Cambridge and Brighton in 2019, bringing the bank up to 40 branches, as it continues to use de novo branches to drive growth.
Brookline Bank Purchases Remaining Shares in Commercial Lending Subsidiary
Brookline Bank has purchased the remaining shares in Eastern Funding, one of its subsidiaries that specializes in commercial lending to small and medium sized businesses, to now own the company outright.
Envision Bank Coming Off Best Quarter Since 2017
The parent company of Randolph-based Envision Bank is coming off its best quarter since 2017 and since the bank rebranded from Randolph Savings Bank, attributing the success to moves it has made in its mortgage division.
Boston Private Closes Wealth Management Offices in Florida and Wisconsin
The closures come as new Boston Private President and CEO Anthony DeChellis continues to take a hard look at the bank’s strategy, and as the bank reported $963 million in negative net flows in the wealth management business between Boston Private and its affiliate partners.
Rockland Trust CEO Aiming for $15B to $20B in Assets East of Worcester
The parent company of Rockland Trust has just officially surpassed $11 billion in assets, but it is already thinking about taking the next step.
Webster Bank Purchases Residential RE Loan Portfolio in Eastern MA
The parent company of Webster Bank reported a profitable first quarter to start the year and the closing on a purchase of a large residential real estate portfolio in Eastern Massachusetts.
Cambridge Trust Closes on Acquisition of New Hampshire Bank
The parent company of Cambridge Trust has completed its purchase of Portsmouth, New Hampshire-based Optima Bank & Trust.
United Bank Could See Major Losses as Result of Alleged Ponzi Scheme
The parent company of Hartford-based United Bank reported another profitable quarter to start the year, but major losses could be coming.
Century Bank Increases Earnings in Q1, Grows Residential Portfolio
The parent company of Medford-based Century Bank announced net income of $9.4 million for the first quarter of 2019, or $1.69 per Class A share diluted, an increase of 22.2 percent compared to net income of $7.7 million, or $1.38 per Class A share diluted, for the same period a year ago.
Profits at Eastern Bank Swell in 2018
Eastern Bank reported another very profitable year, reporting annual earnings in 2018 that exceeded those of similarly-sized peers such as Berkshire Bank and Rockland Trust.
New Boston Private CEO Says Company Has ‘Receptivity’ for Change
Under the rein of former CEO Clay Deutsch, Boston Private and its parent company went through a great deal of change, as the company refocused its wealth management and private banking segments.
Boston Properties Misses Profitability Expectations in Q4
Boston Properties Inc. on Tuesday reported a key measure of profitability in its fourth quarter. The results did not meet Wall Street expectations.
Berkshire Bank Q4 Earnings Slow Thanks to CEO Transition, Technology Changes
In his first earnings call as new CEO of Berkshire Bank, Richard Marotta stuck to the numbers, kept on point and spoke very little of the leadership transition that saw longtime CEO Michael Daly depart under controversial circumstances.
Commercial Lending, HSA Drive Strong Q4 at Webster Bank
Strong commercial lending and a surge of new health savings accounts helped drive growth at the parent company of Webster Bank.
Rockland Trust Continues to Fill in Footprint in Key Areas
Rockland Trust continues to fill in holes in its growing franchise, making successful gains in the Boston, Worcester and Cape Cod markets.
United Bank’s Growth Fails to Meet Expectations
Competitive pricing continued to slow loan growth at the parent company of Hartford-based United Bank in the third quarter of 2018.
Rockland Trust Continues to Build Franchise in Worcester Area
While much of the recent focus has been on Rockland Trust’s planned acquisition of Blue Hills Bank and its expansion in the Boston area, the company has also been busy building out its franchise in Worcester and Central Massachusetts.
Berkshire Bank Grows Boston Deposit Base, Despite Current Competition
With fierce competition, deposit building in and around Boston has been a challenge for many banks.
