1. Articles in category: Financial Services

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    1. Berkshire Bank completes purchase of 44 Business Capital | masslive.com

      Explore masslive.com (May 2 2016)

      Berkshire Bank completes purchase of 44 Business Capital | masslive.com

      Berkshire Bank has completed its purchase of 44 Business Capital, LLC of Blue Bell, Pennsylvania, and Parke Bank of Sewell, New Jersey, under which Berkshire Bank has acquired the business model of 44 Business Capital and certain other assets of Parke Bank's Small Business Administration (SBA) 7(a) loan program operations.  44 Business Capital is now operating as a direct small business lending division of Berkshire Bank reporting up through the Bank's already established Small Business line of business, and originating SBA loans for Berkshire Bank.

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      Mentions:   Berkshire Bank

    2. PeoplesBank Issues Annual Green Report

      Explore PR Newswire (Apr 27 2016)

      PeoplesBank Issues Annual Green Report

      On Earth Day, April 22, individuals and organizations around the world will reflect on the environment, climate change, and a variety of other issues affecting the planet. Through its green values and actions to support environmental sustainability, PeoplesBank believes that it can help make the region a healthier place to live, work, and raise a family.

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    3. Chicopee Savings and Westfield Bank to merge, become largest bank headquartered in Hampden County

      Explore masslive.com (Apr 5 2016)

      Chicopee Savings and Westfield Bank to merge, become largest bank headquartered in Hampden County

      Chicopee Savings has agreed to merge into Westfield Bank to form the largest bank headquartered in here in Hampden County in a $110 million deal. The move continues a trend of bank mergers driven by technology needs and a drive for market share.
      Following the merger, both banks will do business under the Westfield Bank name. The holding company to be renamed Western New England Bancorp with the Nasdaq trading symbol WNEB.

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      Mentions:   Chicopee   Westfield   Westfield Bank

    4. MassMutual Financial Group to lay off nearly 100 more employees in Springfield

      Explore masslive.com (Apr 5 2016)

      MassMutual Financial Group to lay off nearly 100 more employees in Springfield

       MassMutual Financial Group will lay off nearly 100 employees from its information technology department. MassMutual spokesman James Lacey confirmed the layoffs Tuesday morning, saying the employees would leave over the next 18 months. MassMutual is outsourcing the work to a company with which it has had a longtime business relationship, he said.

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      Mentions:   MassMutual   Springfield

    5. 'A milestone event in the 165-year history of MassMutual': Springfield insurance giant buys sales network from MetLife | masslive.com

      Explore masslive.com (Feb 29 2016)

      'A milestone event in the 165-year history of MassMutual': Springfield insurance giant buys sales network from MetLife | masslive.com

      MassMutual announced an agreement Monday to buy MetLife's retail adviser force of life insurance agents for $165 million.  The deal includes a retail distribution operation with more than 40 local sales and advisory operations and approximately 4,000 advisers across the country, Springfield-based MassMutual said.  This move adds to MassMutual's network of 5,800 Career Agency System advisers. These are not MassMutual employees, but independent contractors with the ability to sell MassMutual products.

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      Mentions:   MassMutual   Springfield

    6. MassMutual Financial Group to layoff of 5 percent of workforce in Springfield, Enfield | masslive.com

      Explore masslive.com (Feb 22 2016)

      MassMutual Financial Group to layoff of 5 percent of workforce in Springfield, Enfield | masslive.com

      MassMutual Financial Group is laying off or has laid off approximately 5 percent of its 7,200-person work force in Springfield and Enfield.  The cuts leave MassMutual as still one of the largest area employers and one of the region's oldest employers having been founded in 1851. The number of layoffs works out to be around 360 lost jobs.

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      Mentions:   MassMutual   Springfield

    7. Berkshire Bank Announces $2.3 Million in Community Support

      Explore BusinessWest (Feb 10 2016)

      Berkshire Bank Announces $2.3 Million in Community Support

      Berkshire Bank announced that its two charitable foundations awarded a total of $1,810,229 in grants to nonprofit organizations in Massachusetts, New York, Connecticut, and Vermont during 2015. The grants supported education and community-development initiatives as well as health and human services and cultural programs. In addition, Berkshire Bank provided approximately $500,000 in community sponsorships, raising its total contributions in the community to more than $2.3 million.

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      Mentions:   Berkshire Bank

    8. Leadership Institute 2016 Begins This Week

      Explore BusinessWest (Feb 8 2016)

      Leadership Institute 2016 Begins This Week

      Western New England University and the Springfield Regional Chamber are partnering to offer “Leadership 2016: Skills for Personal, Organizational, and Community Development.” Seven consecutive sessions will be held from 1 to 4:30 p.m. every Thursday from Feb. 11 through March 24.

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      Mentions:   MassMutual   Western New England University   Springfield

    9. Glenn Welch Takes the Reins at Freedom Credit Union

      Explore BusinessWest (Jan 13 2016)

      Glenn Welch Takes the Reins at Freedom Credit Union

      Glenn Welch’s move from Berkshire Bank to Freedom Credit Union wasn’t very far geographically — just a half-mile north on Main Street in Springfield — and, to hear him tell it, perhaps even less of a move culture-wise.  “One of the things I heard before coming here — from at least four people who used to work at Hampden Bank was that Freedom reminded them very much of Hampden with its community orientation,” said Welch, a 17-year veteran of Springfield-based Hampden Bank and its president from 2013 until its acquisition by Berkshire Bank last year.

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      Mentions:   University of Massachusetts   Western New England University   Berkshire Bank

    10. MassMutual, Western New England University welcome 400 high school students to academic achievers conference | masslive.com

      Explore masslive.com (Jan 6 2016)

      MassMutual, Western New England University welcome 400 high school students to academic achievers conference | masslive.com

      This is the 14th year MassMutual and Western New England have hosted the conference. This year's theme was 'Build Your Future.'  A big part of everyone's future will depend on learning exactly why and for how long that little rat can be motivated to, or dissuaded from, taping the lever, said Sheralee A. Tershner, chair and professor of neuroscience. She showed the how and why the lever box, once commonly called a Skinner box and now called an 'operant conditioning chamber,' works.  It's not dissimilar to how a slot machine gets players to keep betting money through ...

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      Mentions:   MassMutual   Western New England University

    11. Farmington Bank cuts ribbon for its East Longmeadow branch | masslive.com

      Explore masslive.com (Dec 10 2015)

      Farmington Bank cuts ribbon for its East Longmeadow branch | masslive.com

      Farmington Bank hosted a ribbon cutting Dec. 3 at its new branch in East Longmeadow, at 61 North Main St.  John Patrick, Farmington Bank's chairman, president and CEO, welcomed business, government and community leaders to the newly constructed 2,000 square-foot bank branch.  In a news release, the bank said it wanted to celebrate its role as a community partner a $2,000 donation from the Farmington Bank Community Foundation to the East Longmeadow Educational Endowment Fund.  The East Longmeadow branch is the second office Farmington Bank has opened in western Massachusetts in two months, following the October ribbon ...

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      Mentions:   West Springfield   Springfield

    12. Merchants, NUVO Finalize Merger

      Explore BusinessWest (Dec 7 2015)

      Merchants, NUVO Finalize Merger

      Merchants Bancshares Inc. announced the completion of the merger with Springfield-based NUVO Bank & Trust Co. NUVO’s banking business will be operated as a division of Merchants Bank, a wholly owned subsidiary of Merchants. Total compensation paid by Merchants for NUVO’s outstanding stock comprises approximately 517,100 shares of common stock and $5.1 million in cash. Merchants also paid an aggregate of approximately $878,000 to cash out NUVO stock options and a portion of its common-stock warrants and issued replacement warrants to purchase Merchants common stock on adjusted terms.

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      Mentions:   Springfield   Dale Janes

    13. MassMutual Summer Legal Institute students visit Washington | masslive.com

      Explore masslive.com (Nov 25 2015)

      MassMutual Summer Legal Institute students visit Washington | masslive.com

      Top Students from the MassMutual Summer Legal Institute visited Washington, according to a news release.  The Legal Institute is the free, week-long summer camp that we offer each year with Just the Beginning, a foundation that works to introduce women and minorities to legal professions, and Western New England University. Below are additional details about the trip. Let me know if you have any questions or would like more info.  The top three scholars, Julissa Arce (Sabis), Zachary Fernandes (Minnechaug), and Simone Aldridge Moore (West Springfield High) had a great experience at Just The Beginning's Supreme Court Day, MassMutual ...

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      Mentions:   MassMutual   West Springfield   Western New England University

    14. Farmington Bank to open in East Longmeadow Nov. 18 | masslive.com

      Explore masslive.com (Nov 13 2015)

      Farmington Bank to open in East Longmeadow Nov. 18 | masslive.com

      Farmington Bank will open its newest branch office in western Massachusetts will open on November 18 at 61 North Main Street in East Longmeadow.  This branch follows the opening of its first office in Massachusetts at 85 Elm Street in West Springfield in October.  The new East Longmeadow office will feature an open floor plan with approximately 2,000 square feet of space, allowing customers to interact with Farmington Bank's Personal Bankers without teller lines. The branch will also offer a drive-up window and a 24-hour drive-up ATM.

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      Mentions:   West Springfield   Springfield

    15. Springfield-based Nuvo Bank sale to Merchants Bancshares to be finalized in December | masslive.com

      Explore masslive.com (Nov 10 2015)

      Springfield-based Nuvo Bank sale to Merchants Bancshares to be finalized in December | masslive.com

      Nuvo Bank & Trust Co. and Merchants Bancshares Inc. of South Burlington, Vermont, announced Monday that they have all the necessary shareholder and regulatory approvals for Merchant's purchase of Nuvo to move forward.  The deal, first announced in April, is for Merchants Bancshares to buy Nuvo for for $21.8 million or $7.15 cents a share. Merchants is buying Nuvo with 75 percent stock and 25 percent cash.

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      Mentions:   Springfield

    16. MassMutual Financial Group announces record $1.7 billion dividend payout | masslive.com

      Explore masslive.com (Nov 3 2015)

      MassMutual Financial Group announces record $1.7 billion dividend payout | masslive.com

      MassMutual Financial Group announced a record dividend Monday of $1.7 billion for 2016.  The payout, which goes to eligible holders of MassMutual whole life insurance polices and some annuities, works out to a dividend interest rate of 7.10 percent, the Springfield-based company said Monday. Policy and annuity holders receive their payments on the anniversary dates of their polices and can take the money in one of four ways:as cash, to pay their insurance premiums, to buy more insurance coverage or they can leave the money on interest with MassMutual.

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      Mentions:   MassMutual   Springfield

    17. Farmington Bank opens new branch on Elm Street in West Springfield | masslive.com

      Explore masslive.com (Oct 6 2015)

      Farmington Bank opens new branch on Elm Street in West Springfield | masslive.com

      Farmington Bank is an old bank with a new branch in an old bank building.  It plans to open its new branch on Elm Street in West Springfield today, Tuesday.  Founded in 1851, the Connecticut-based bank, with headquarters in Farmington, started hiring staff and building business in Greater Springfield about a year ago. The location, 85 Elm St. at the corner of Elm and Central streets, was most recently a Bank of America location but was for many years a Third National Bank. It was built as the West Springfield Trust Co. in 1921.

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      Mentions:   West Springfield   Springfield   Bank of America

    18. Farmington Bank to open 1st Massachusetts branch on Elm St., West Springfield | masslive.com

      Explore masslive.com (Sep 25 2015)

      Farmington Bank to open 1st Massachusetts branch on Elm St., West Springfield | masslive.com

      Farmington Bank will open its first Massachusetts branch office at 85 Elm St. in the city's downtown on Tuesday, Oct. 6.  A formal grand opening will follow on Oct. 15 amid a week of special events, said bank spokesman Tom Andrea.  The location in West Springfield was most recently a Bank of America location before Bank of America closed it in 2012. A traditional downtown office building, 85 Elm St. was once home to the West Springfield Trust Co. according to the lettering in the building's cornice.

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      Mentions:   West Springfield   Springfield   Bank of America

    19. Greenfield, Northampton Banks Make a Smooth Transition

      Explore BusinessWest (Sep 9 2015)

      Greenfield, Northampton Banks Make a Smooth Transition

      For the CEO of Greenfield Cooperative Bank, the recent merger with Northampton Cooperative Bank — joining two institutions with a combined 236 years of history — made sense on a number of levels, from their similar cultures to the prospect of greater lending clout, to different but compatible branch footprints that eliminated the need for layoffs. The goal, he said, was to make the merger as seamless for customers as possible, while putting a broader range of services within their reach. For 36 years in the banking industry, Michael Tucker has weathered plenty of changes, so the recent merger of Greenfield Cooperative ...

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      Mentions:   Northampton   Greenfield   Michael E Tucker

    20. Thomas Senecal to Succeed Douglas Bowen as PeoplesBank President

      Explore BusinessWest (Aug 17 2015)

      Thomas Senecal to Succeed Douglas Bowen as PeoplesBank President

      The PeoplesBank board of directors announced that bank President and CEO Douglas Bowen will retire in July 2016, to be succeeded by Thomas Senecal, currently executive vice president and chief operating officer.  The board’s leadership-succession plan calls for Senecal to become president at the bank’s annual meeting in February 2016. Bowen will become chairman and CEO at that time. Senecal will be named president and CEO in July 2016 upon Bowen’s retirement. During this transition period, Bowen will remain active in his position and the bank’s management and strategy implementation.

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      Mentions:   Douglas A Bowen

    21. REB Receives Grant from PeoplesBank to Support Talk/Read/Succeed

      Explore BusinessWest (Aug 3 2015)

      REB Receives Grant from PeoplesBank to Support Talk/Read/Succeed

      The Regional Employment Board of Hampden County (REB) received a $2,500 grant award from PeoplesBank to support the work of the Talk/Read/ Succeed (TRS) program. Talk/Read/Succeed is a place-based holistic program and currently serves 150 low- to moderate-income families at two Springfield Housing Authority (SHA) developments in Springfield. The goal of TRS is to have all children enter kindergarten ready to learn and go on to read proficiently by fourth grade. The $2,500 grant award is part of PeoplesBank’s Community Care Program and will be used to support parent-education programs at the SHA sites ...

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    22. MassMutual brings 'Girls Who Code' to Springfield, offering girls chance to excel at computer technology | masslive.com

      Explore masslive.com (Aug 3 2015)

      MassMutual brings 'Girls Who Code' to Springfield, offering girls chance to excel at computer technology | masslive.com

      MassMutual is hosting this summer session of Girls Who Code at its massive State Street office headquarters. Girls Who Code's national mission is to get more high-school girls interested in computer and engineering careers and majoring in computer science and similar fields in college.  The Girls Who Code participants hail mostly from Springfield, Enfield and surrounding towns, although a few commute from Amherst, said Yasmine Laurent, Girls Who Code program manger for Greater Boston.  This is the first Girls Who Code summer immersion program in Western Massachusetts, Laurent said. There are programs in eastern Massachusetts, but most centered literally ...

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      Mentions:   MassMutual   Springfield   Amherst

    23. Westfield Bank reports quarterly net income of $1.4 million | masslive.com

      Explore masslive.com (Jul 31 2015)

      Westfield Bank reports quarterly net income of $1.4 million | masslive.com

      Westfield Financial, Inc. the holding company for Westfield Bank reported net income of $1.4 million, or 8 cents per share, for the quarter ended June 30, 2015, compared to $1.3 million, or 7 cents per diluted share, for the quarter ended June 30.  For the six months ended June 30, 2015, net income was $2.7 million, or15 cents per share, compared with $3 million, or 16 cents per share, for the same period in 2014, according to a news release issued Thursday.

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      Mentions:   Westfield   Westfield Bank

    24. Common Threads

      Explore BusinessWest (Jul 20 2015)

      Common Threads

      As the bank celebrates its milestone anniversary this year, it is not marking that number or another figure ($2 billion in assets, which the institution just passed), as much as it is highlighting those traits it still has in common with Skinner, he explained.  “If William Skinner were to look at the bank today, he would see that, in some ways, nothing has changed, and in another way, everything has changed,” said Bowen, now in his 10th year at the helm of the Holyoke-based institution.  Certainly, the figures on the ledger sheet have changed. The bank, which opened on St ...

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