Downtown Marlborough Development Gets $41M Financing Package
Procopio Cos. moved forward with its second multifamily development in Marlborough this year after acquiring a parcel near downtown and receiving $41.4 million in financing.
Higher Deposit Costs Drag Profits at Four Mass. Banks
BankProv, HarborOne, Westfield Bank and Colonial Federal Savings all suffered from lower profit margins in the second quarter amid the high interest-rate environment and tight competition for deposits.
Loan Growth Boosts Enterprise’s, HarborOne’s Earnings
Loan growth in a rising rate environment helped drive earnings at several Massachusetts stock banks.
Westfield Bank Sees Little Change in Third Quarter Earnings
Westfield Bank, which has branches in Western Massachusetts and Northern Connecticut, saw year-over-year earnings remain mostly unchanged in the third quarter.
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.
Former Chicopee Savings Bank CEO Dies at 75
William J. Wagner, the long-time CEO at Chicopee Savings Bank, died on Christmas Day at age 76. Wagner had retired from Chicopee Savings’ successor, Westfield Bank, about six weeks before his death.
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.
Westfield Bank Appoints Its First Female Board Chair
Westfield Bank earlier this year appointed Lisa G. McMahon as the first female board chairperson in the bank’s 167-year history.
OCC CRA Changes Could Complicate Housing Finance
As banks have sought opportunities to satisfy Community Reinvestment Act requirements by lending in low- and moderate-income communities, affordable housing organizations have found willing partners for their projects.
Westfield Bank to Buy Former United Bank Branch in Huntington
Weeks after news that the only bank in the western Massachusetts town of Huntington – an ex-United Bank branch – would close, People’s United Bank announced last week it planned to sell the building to Westfield Bank.
Westfield Bank Planning to Expand Greater Hartford Presence
Westfield Bank is planning to double the number of branches it has in Connecticut.
Westfield Bank Parent Reports Solid Annual Earnings, but Slow Growth
A $4 million write down as a result of tax reform wiped out profits for Westfield Bank’s parent company in the fourth quarter of 2017 after a year of slow growth.
Western New England Bancorp Execs Sell Shares
A group of 10 executives from Western New England Bancorp, the holding company of Westfield Bank, all sold company shares last week.
Since Completing Merger, Growth At Western New England Bancorp Flat
Since completing the merger of Chicopee Savings Bank into Westfield Bank last December, becoming the largest headquartered bank in Hampden county, total assets for holding company Western New England Bancorp have barely moved, growing just $10 million between Dec. 31, 2016, and the end of the third quarter.
Westfield Financial Benefits From Conn. Expansion In Q2
Westfield Financial benefitted from double-digit loan...
Westfield Bank Opens Second Conn. Location
Massachusetts-based Westfield Bank recently opened a...
