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.
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.
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.
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.
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.
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.
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.
Brookline, Envision Banks See Losses in First Quarter
The impact of the coronavirus crisis continues to show in bank performance, with two more local stock banks seeing income losses in the first quarter.
Randolph Bank Parent Looks To Boost Mortgage Biz, Deploy New Capital
Randolph Bancorp boosted its second quarter earnings in part due to increasing residential mortgage volume.
Randolph Bancorp Closes On Conversion, Acquisition
Randolph Bancorp closed today on both its mutual-to-stock conversion and its acquisition of First Eastern Bankshares Corp.
Randolph Bancorp To Pursue Conversion Plan
Randolph Bancorp announced late last week that its...
