While the state’s regional banks face liquidity pressures and have tightened their credit standards so far this year, Massachusetts’ smaller credit unions and mutual banks saw skyrocketing growth in commercial loan volumes in the first six months of the year.
The recent spate of bank mergers has shaken patrons’ trust in Eastern Massachusetts’ community banks, leaving CEOs to grapple with a new threat to customer retention.
From new VPs to fresh project managers, see who’s been hired, promoted and honored: it’s The Personnel File.
The merger of Quincy-based Envision Bank into Abington Bank could happen next week now that the deal has received regulatory approval.
More than 50 Envision Bank employees will lose their jobs as part of the bank’s upcoming acquisition by Hometown Financial Group.
The Federal Reserve Board assessed a $17,000 penalty against Easthampton Savings Bank – known by its brand name bankESB – for allegedly violating National Flood Insurance Program regulations.
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.
In less than 18 hours last month, Greater Boston saw two more banks announce acquisition deals. Analysts see strategic, long-term impacts for both lenders.
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.
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.
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.
Gov. Charlie Baker has appointed Matthew Sosik, president and CEO of Hometown Financial Group, to the board of directors of the Massachusetts Housing Partnership
Members of the banking & real estate industries have been on the move recently. See who’s been hired and promoted in this week’s Personnel File!
Hometown Financial Group and its subsidiary Pilgrim Bank have completed their merger with Abington Bank.
Hometown Financial Group continues to shop aggressively as it announced today that it will merge with and absorb Millbury Savings Bank into its subsidiary, Oxford-based bankHometown.
Hometown Financial Group is not wasting any time. A week after completing its nearly $54 million acquisition of Cohasset-based Pilgrim Bank, the mutual holding company has already announced another merger.
Hometown Financial Group has received all necessary regulatory approvals and completed its acquisition of Cohasset-based Pilgrim Bank.
Shareholders, some controlling less than 100 shares and represented by big law firms, have gone after community banks in Massachusetts – mostly sellers – during mergers or acquisitions, seeking small fees in a timely manner.
A bank holding company in Western Massachusetts has snatched up a small South Shore bank, its first move into the eastern part of the state.