1. Articles in category: Financial Services

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    1. Financial Review Publication Names PeoplesBank to Top Ten List

      Explore masslive.com (Aug 26 2016)

      Financial Review Publication Names PeoplesBank to Top Ten List

      AdvisoryHQ has named PeoplesBank to its list of The Top Ten Banks in Massachusetts after an extensive review, PeoplesBank said. The publication described the list as follows: "The names on this list of banks in Massachusetts are all very distinctive from one another, yet all have many advantages, benefits, and value-creating products and services that make them excellent choices for consumers seeking the very best in financial services.

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      Mentions:   Springfield   Holyoke

    2. Arrha Credit Union sets grand opening of West Springfield office | masslive.com

      Explore masslive.com (Aug 16 2016)

      Arrha Credit Union sets grand opening of West Springfield office | masslive.com

      Arrha Credit Union plans a grand opening of its new office at 63 Park Ave. on Sept. 8 at from 4 to 6 p.m.  The 2,500-square-foot branch office occupies what was once the site of West Springfield's Knights of Columbus lodge hall. Arrha bought the site in June 2015 for $350,000 from the Knights of Columbus Council 2212. The Catholic fraternal organization had a lodge on the site facing the West Springfield green since 1924, but maintaining the building had gotten to be too much.

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    3. MassMutual Program Introduces Students to Law Careers

      Explore BusinessWest (Aug 11 2016)

      MassMutual Program Introduces Students to Law Careers

      Nia Major used to get really nervous when she met someone new and had to talk with them.  But after completing a week-long Summer Legal Institute session (SLI) at MassMutual last month, the 15-year-old from Sabis International Charter School in Springfield gained so much confidence that she was named a grand-prize winner in an oral-argument competition, where she played the role of a lawyer in a mock case that involved name-calling and cyberbullying.

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      Mentions:   MassMutual   Western New England University   Springfield Renaissance School

    4. Berkshire Bank Named Among Top 10 Best Banks in Massachusetts

      Explore BusinessWest (Aug 4 2016)

      Berkshire Bank Named Among Top 10 Best Banks in Massachusetts

      Berkshire Bank has been recognized by AdvisoryHQ News as one of the Top 10 Best Banks in Massachusetts. “We are honored to be recognized by AdvisoryHQ News on their list of the best banks in Massachusetts,” said Tami Gunsch, executive vice president of Retail Banking. “We look forward to continuing to provide solutions to meet the financial needs of those within our communities and help our customers thrive and achieve what’s most exciting in their lives.”

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      Mentions:   Berkshire Bank

    5. That’s What Drives Continued Growth at Greenfield Savings Bank

      Explore BusinessWest (Jul 15 2016)

      That’s What Drives Continued Growth at Greenfield Savings Bank

      Blocking and tackling.  Those are the fundamentals of winning football at any level, or so most coaches would say. But John Howland uses that phrase often as he talks about banking.  He uses it, as those on the gridiron do, in reference to maintaining a keen focus on the basics, the things one has to do right in order to achieve success. And in the case of financial institutions, that list includes some things that most would consider obvious — everything from good customer service to attractive products and services; from having competitive rates on those products to giving back within ...

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      Mentions:   Amherst   Northampton   Greenfield

    6. PeoplesBank strengthens mutual structure as new CEO takes office | masslive.com

      Explore masslive.com (Jul 13 2016)

      PeoplesBank strengthens mutual structure as new CEO takes office | masslive.com

      PeoplesBank has changed its bylaws to make it more difficult for the bank to convert from mutual ownership by its depositors to public ownership by stockholders.  The changes, enacted in February but announced this week, bar the bank's senior management and trustees from self-enrichment in the event of a conversion, said Thomas W. Senecal, president & CEO of PeoplesBank.

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    7. MassMutual completes acquisition of MetLife's U.S. insurance sales force

      Explore masslive.com (Jul 5 2016)

      MassMutual completes acquisition of MetLife's U.S. insurance sales force

      MassMutual announced Tuesday that it has completed a $165-million purchase of MetLife's U.S. retail adviser force of life insurance agents.  The deal was first announced in February.   MetLife made the deal to sell off its Premier Client Group to avoid being designated "too big to fail" under federal regulations established in the wake of the 2008 financial crisis.

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      Mentions:   MassMutual   Springfield

    8. Berkshire Bank buys First Choice Bank in New Jersey | masslive.com

      Explore masslive.com (Jun 30 2016)

      Berkshire Bank buys First Choice Bank in New Jersey | masslive.com

      Berkshire Hills Bancorp, parent of Berkshire Bank announced Wednesday that it and First Choice Bank have signed a definitive merger agreement.  First Choice Bank will merge into Berkshire Bank and its subsidiary, First Choice Loan Services Inc., will become a subsidiary of Berkshire Bank in an all-stock transaction valued at approximately $111.7 million, Berkshire Bank said.  Berkshire's total assets will increase to $8.9 billion including the $1.1 billion in acquired First Choice assets.

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      Mentions:   Berkshire Bank

    9. Dowd Insurance Agencies enters into alliance with a subsidiary of The Quincy Mutual Group

      Explore masslive.com (Jun 17 2016)

      Dowd Insurance Agencies enters into alliance with a subsidiary of The Quincy Mutual Group

      The Dowd Insurance Agencies, a leading insurance provider serving New England for 118 years, today announced it will enter into a strategic alliance with a subsidiary of The Quincy Mutual Group. Through Quincy Perpetuation Partners (QPP), the new subsidiary, Quincy Mutual will invest in a 20 percent ownership position in The Dowd Insurance Agencies. The Dowd Insurance Agencies will continue to operate under independent ownership – this is not a merger or acquisition in any form.

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      Mentions:   Holyoke

    10. MassMutual donation boosts UMass science

      Explore masslive.com (Jun 17 2016)

      MassMutual donation boosts UMass science

      The largest grant ever made by MassMutual to a local or regional initiative is a tremendous boost to the computer science program at the University of Massachusetts. The $15 million grant is a nod to the present but also the future. Most will go to the Center for Data Science and will allow for additional faculty, a doubling of course options and expansion of the master's degree program. The remainder of about $3 million will support the cybersecurity program at UMass Springfield at Tower Square. Announcement of the grant was made June 10.

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      Mentions:   University of Massachusetts   Smith College   MassMutual

    11. MassMutual donates $15M to boost computer science at UMass Amherst and Springfield

      Explore masslive.com (Jun 10 2016)

      MassMutual donates $15M to boost computer science at UMass Amherst and Springfield

      MassMutual announced Friday that it will donate $15 million to University of Massachusetts computer science programs over the next 10 years. Of the $15 million, $12 million will support the University of Massachusetts Amherst's Center for Data Science with additional faculty, a doubling of the number of available courses and an expansion of the master's degree program. In Springfield, the company will donate $3 million over 10 years to expand a cybersecurity certificate program taught at the university's center in MassMutual owned Tower Square. The cybersecurity certificate program is an eight-week, 15-credit-hour program. "We believe the world ...

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      Mentions:   University of Massachusetts   Smith College   MassMutual

    12. Springfield-based MassMutual Financial Group climbs to 76 on annual Fortune 500 list | masslive.com

      Explore masslive.com (Jun 8 2016)

      Springfield-based MassMutual Financial Group climbs to 76 on annual Fortune 500 list | masslive.com

      MassMutual Financial Group jumped 18 places on the annual Fortune 500 list of America's top companies to No. 76, its highest ranking in history, the company said Monday. At No. 76, MassMutual is the second highest-ranking company in the state behind No. 73, Liberty Mutual Insurance Co. at $39.4 billion. Liberty Mutual has significant operations in the Springfield Technology Park including a call center and paralegal operations.

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      Mentions:   MassMutual   Liberty Mutual   Springfield

    13. Easthampton Savings Bank plans $1 million, 12-employee branch in Holyoke | masslive.com

      Explore masslive.com (May 25 2016)

      Easthampton Savings Bank plans $1 million, 12-employee branch in Holyoke | masslive.com

      Mayor Alex B. Morse said in a text message the project would cost at least $1 million and the branch would have more than 12 employees.  ''BankESB' is having an ever increasing presence as a lender in Holyoke, driving the financing behind some of the largest projects in the city. I'm very excited they'll have a physical location here as they continue growing their business and other business in the community,' Morse said in comments from the press release.

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      Mentions:   Holyoke   Easthampton Savings Bank   Easthampton

    14. Berkshire Bank Foundation Awards Nearly $85,000 to 20 Nonprofits

      Explore BusinessWest (May 13 2016)

      The funding supported a variety of organizations, including DevelopSpringfield, supporting the construction of the Springfield Innovation Center in downtown Springfield; Volunteers in Public Schools of Westfield, supporting the Westfield Credit for Life Fair; Ludlow Community Center & Randall Boys & Girls Club in Ludlow, supporting its Project Learn academic-success program; Revitalize Community Development Corp. in Springfield, supporting its Green-N-Fit Neighborhood Block Rebuild; HAP Inc. in Springfield, supporting its first-time homebuyer counseling and education program; and United Way of Pioneer Valley in Springfield, supporting the creation of a financial-success center.

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      Mentions:   Berkshire Bank   Springfield   Westfield

    15. Bank of America branch in downtown Springfield to close | masslive.com

      Explore masslive.com (May 11 2016)

      Bank of America branch in downtown Springfield to close | masslive.com

      The Bank of America branch in Monarch Place is expected to close this August.
      MassLive obtained a copy of a notice sent to bank clients, saying the branch will shut down on Aug. 16. Branches in West Springfield and on Carew Street will remain open, the notice said.

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      Mentions:   West Springfield   Springfield   Bank of America

    16. Farmington Bank commits $5M to small business lending in Western Massachusetts | masslive.com

      Explore masslive.com (May 11 2016)

      Farmington Bank commits $5M to small business lending in Western Massachusetts | masslive.com

      Farmington Bank has announced the availability of up to $5 million in low-interest rate loans for qualified small businesses in Western Massachusetts.  The program aims to target new and existing small businesses in Springfield, West Springfield and East Longmeadow, according to a news release from the bank.

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      Mentions:   West Springfield   Springfield

    17. Westfield, Chicopee Merger Called a Logical Step on Many Levels

      Explore BusinessWest (May 5 2016)

      Westfield, Chicopee Merger Called a Logical Step on Many Levels

      He couldn’t pinpoint exactly when they started, but Westfield Bank President and CEO Jim Hagan said the talks he’s had with his counterpart at Chicopee Savings Bank, Bill Wagner — about this marketplace, the changes taking place in it, and a possible merger of their institutions — are not exactly a recent development.  Well, that’s true of those first few subjects of conversation, anyway.  “Bill and I had a number of discussions about this market, what was happening in it, bank consolidations, and the importance of size and scale in the industry,” said Hagan, who took the helm at ...

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      Mentions:   West Springfield   Springfield   Chicopee

    18. 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

    19. 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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    20. 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.

      (Read Full Article)

      Mentions:   Chicopee   Westfield   Westfield Bank

    21. 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

    22. '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

    23. 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

    24. 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

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