Amesbury-based BankProv saw deposits increase 9 percent during the first quarter, with much of that increase tied to its banking-as-a-service products and considered volatile by the bank.
Eastern Bank planned to pay off borrowings after selling about 25 percent of its securities portfolio at a loss, but the bank failures just days later changed those plans.
Eastern Bank had a first quarter net loss of $194.1 million after selling a portion of its securities portfolio for a loss.
HarborOne reduced staff in its mortgage division during the first quarter and plans to make other cost saving moves this year.
Lowell-based Enterprise Bank saw deposits drop by less than 1 percent during the quarter, while loans grew by 2 percent.
Cambridge Trust Co. saw deposits drop by 3.3 percent in the first quarter, with most of the outflows occurring before the bank failures in March.
Depositors at First Republic Bank pulled more than $100 billion out of the bank during last month’s crisis, as fears swirled that it could be the third bank to fail after the collapse of Silicon Valley Bank and Signature Bank.
Rockland Trust saw deposits drop by 3.8 percent during the first quarter even as the bank added new customers during the quarter.
Berkshire Bank saw deposits drop by 2.5 percent during the first quarter, but some of those lost deposits moved to money market products in the bank’s wealth management division.
Buffalo-based M&T Bank saw deposits decline during the first quarter, a shift the bank expects to stabilize in the coming quarters.
Hingham Institution for Savings saw deposits increase in the first quarter as it found opportunities to bring on new customers despite the national economic jitters that struck in March.
Community bankers, particularly in the Northeast, continue to have dim expectations for bank profitability, according to the Conference of State Bank Supervisors’ latest community bank survey.
While most Massachusetts credit unions had positive net income in the first quarter, the state’s credit unions continued to lose members at a higher rate than most other states, according to data released this week by the National Credit Union Administration.
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.
Amesbury-based BankProv saw deposit relationships with digital asset customers increase by 80 percent in the first quarter, and the bank’s year-over-year earnings increased by 28 percent.
Brookline Bancorp plans to maintain its multi-bank holding structure and keep separate charters for Brookline Bank and Bank Rhode Island.
As more national and local banks continue to reduce or eliminate fees for overdraft and nonsufficient funds, Boston-based Eastern Bank will also make changes to these fees later this year.
While merger expenses led to a quarterly loss for Webster Bank’s parent company, bank executives say they have already seen the combination with Sterling National Bank reflected in financial performance.
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.
Despite changes to the economic and rate environment, Cambridge Trust expects to continue to see growth in commercial lending this year.
