Hometown Financial Group Gets Approval for Envision Bank Acquisition
The merger of Quincy-based Envision Bank into Abington Bank could happen next week now that the deal has received regulatory approval.
Banks Seek Solutions to Support Online Customers
Even as banks and credit unions look to enhance online and mobile banking tools to adapt to customers’ expectations and demands, some are finding it challenging to keep pace with how customers want to interact.
Envision Bank Merger Will See 56 Layoffs
More than 50 Envision Bank employees will lose their jobs as part of the bank’s upcoming acquisition by Hometown Financial Group.
Envision Bank Sees Positive Earnings in the Second Quarter
After announcing plans in March to sell itself and then closing the first quarter with net losses, Quincy-based Envision Bank saw positive earnings in the second quarter.
Envision Bank Shareholders Approve Merger With Hometown
Hometown Financial Group’s acquisition of Quincy-based Envision Bank moved a step forward last week after shareholders of Envision Bank’s parent company approved the deal.
Community Good Works
Liz Tavares, a commercial broker with Jay Nuss Realty Group, helped arrange meal deliveries between Newton-area restaurants and local families, senior citizen programs and individual households in need.
SEC Filing: Changing Market Conditions Curbed Interest in Envision Bank Deal
Market conditions prompted two banks to drop out of the running to acquire Envision Bank, according to a recent filing with the Securities and Exchange Commission.
Envision Bank Sees Losses in First Quarter
In a quarter that closed with its parent company announcing that it had sold itself, Envision Bank experienced a net loss in the first quarter.
Mergers Seen as Strengthening Smaller Mass. Banks
Critics of bank consolidation often say mergers harm consumers by limiting competition and reducing local lending. But smaller local banks involved in two recent deals say the moves are necessary for them and their customers to thrive.
Envision Bank Sees Merger As Answer to Competiton
In a move that Envision Bank’s President and CEO William Parent said would provide the resources to compete with larger institutions, the bank’s parent company has agreed to sell itself to Easthampton-based Hometown Financial Group Inc.
Hometown Financial Group to Acquire Envision Bank
Easthampton-based Hometown Financial Group, Inc. has agreed to acquire Randolph Bancorp, the parent company of Quincy-based Envision Bank, in a deal valued at approximately $146.5 million.
Community Good Works
From huge gifts to help entrepreneurs build their businesses to scholarships for their communities’ kids, local banks and real estate companies gave back in a lot of ways recently.
Lower Mortgage Demand Affects Envision Bank’s Earnings
Quincy-based Envision Bank saw declining mortgage demand in the fourth quarter as earnings in 2021 dropped more than 50 percent compared to 2020.
Envision Bank Begins Paying Regular Quarterly Dividends
Envision Bank will start paying a regular quarterly dividend to shareholders and also use excess capital on a stock repurchase program.
Personnel File
From new VPs to fresh project managers, see who’s been hired, promoted and honored: it’s the 256th installment of Banker & Tradesman’s Personnel File.
Mortgage Activity Hurt Envision Bank Earnings in Second Quarter
Slowing mortgage activity contributed to a drop in net income for Envision Bank, which saw second quarter earnings decline nearly 70 percent from last year.
Envision Bank Outsources Mortgage Servicing
Envision Bank has partnered with an Illinois-based company to manage the bank’s mortgage subservicing business.
Envision Bank Sees Another Year of Positive Earnings
Envision Bank continued to rebound from a stretch of losing years with its second straight year of positive earnings.
Envision Bank Helps Fund New Home for Veterans
Randolph-based Envision Bank provided partial funding – and made a $1 land sale – to help build a new home for formerly homeless veterans.
Mortgage Activity Drives Q3 Earnings at MA Stock Banks
Massachusetts’ stock banks have continued to see positive earnings during the pandemic, with the third quarter giving at least one local bank the best quarter in its history.
