1. Articles in category: Financial Services

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    1. 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

    2. 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

    3. 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

    4. 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

    5. 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

    6. 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

    7. 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

    8. 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

    9. 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

    10. 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

    11. 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

    12. 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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    13. 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

    14. 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

    15. '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

    16. 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

    17. 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

    18. 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

    19. 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

    20. 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

    21. 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

    22. 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

    23. 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

    24. 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

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