Webster Five Names New CFO
Webster Five has named a new chief financial officer as it continues to add to its leadership team.
Rockland Trust Completes Acquisition of Enterprise Bank
Rockland Trust has completed its acquisition of Enterprise Bank, with Enterprise shareholders receiving $1.3 million less in cash than originally anticipated.
Rockland Trust Will Lay Off 125 at Enterprise Bank If Merger Goes Ahead
Rockland Trust told investors it expects to find cuts equivalent to 30 percent of Enterprise Bank’s operating costs, but won’t close branches.
Rockland Trust to Keep Presence in Lowell Post-Merger, Despite new HQ
While Rockland Trust is planning to move to a new, larger corporate headquarters at the same time it’s seeking approval to buy Enterprise Bank, the bank says it will be maintaining an office in Lowell after the merger.
Enterprise Bank Picks Newgen to Boost Commercial Lending Software
Enterprise Bank, which will be merging into Rockland Trust has boosted its commercial lending capabilities ahead of the combination.
Rockland Trust to Acquire Enterprise Bank
Rockland Trust has announced that it plans to acquire Enterprise Bank in a cash and stock transaction valued at $562 million.
R&D Could Throw Lifeline to Sinking Suburban Office Sector
Conversions to R&D space could be the best option for suburban Boston office landlords facing a financial crossroads, real estate executives predicted at an economic forum focusing on the Metro North region.
Enterprise Bank Q4 Profits Down on Higher Deposit Costs
Lowell-based Enterprise Bank saw net income in the fourth quarter decrease to $7.9 million from $9.7 million in the third quarter as the cost of high-interest deposits– primarily in its money market and certificates of deposit products – offset the gains from yields in assets.
WinnDevelopment Begins $55M Mill Housing Conversion
A $55.3 million adaptive reuse project will create 88 affordable senior apartments in a historic mill complex that’s sat vacant for decades in downtown Holyoke.
Everett Bank, Enterprise Bank Saw Better than Expected Q2 Net Income
Successful lending strategies propped up their second-quarter financial performance despite headwinds from high interest rates and intense competition for deposits.
Enterprise Bank Saw Loan Growth During First Quarter
Lowell-based Enterprise Bank saw deposits drop by less than 1 percent during the quarter, while loans grew by 2 percent.
Loan Growth Boosts Enterprise’s, HarborOne’s Earnings
Loan growth in a rising rate environment helped drive earnings at several Massachusetts stock banks.
Enterprise Bank Saw Third Quarter Earnings Increase
Enterprise Bank saw earnings increase year-over-year by 26 percent, due in part to loan growth.
Business Lending Is Still Good Business
Inflation is at a historic high, the Federal Reserve has raised its benchmark interest rate 2.5 percent in six months and talk of recession is in the air. Yet businesses’ appetite for debt didn’t dim in Q2.
Enterprise Saw Second Quarter Earnings Fall 27 Percent
Lowell-based Enterprise Bank saw second quarter earnings fall 27 percent year-over-year, due in part to increased costs for employee salaries.
Commercial Lenders Look for Effects of Rising Rates
While lenders began 2021 anticipating some interest rate increases this year, the changing rate environment in recent weeks has added another challenge to commercial real estate lending.
CRE Loans Keep Mass. Banks Growing into 2022
Commercial real estate loans helped drive growth at several local banks in 2021 as the industry moved away from Paycheck Protection Program lending in the second half of 2021.
PPP Forgiveness Continues to Drive Bank Earnings
After another lending round of the Paycheck Protection Program ended in May, Massachusetts banks have continued to see loan forgiveness help drive financial performance.
PPP Helps Drive Enterprise Bank’s Earnings
Loan income from the Paycheck Protection Program helped drive Enterprise Bank’s earnings up more than 50 percent compared to the same quarter last year.
Mass. Banks See Improvements in Credit Quality in Q1
Local banks continued to reduce the provision for loan losses in the first quarter in a sign that pandemic-related credit concerns continue to stabilize.
