1. Articles in category: Financial Services

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    1. 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

    2. 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

    3. 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

    4. 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

    5. 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

    6. 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

    7. 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

    8. 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

    9. 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

    10. 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

    11. 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

    12. 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

    13. 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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    14. 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

    15. 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

    16. 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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    17. United Way of Pioneer Valley Honors Community Leaders Today | BusinessWest

      Explore BusinessWest (Jun 17 2015)

      United Way of Pioneer Valley Honors Community Leaders Today | BusinessWest

      United Way of Pioneer Valley will present eight awards to local community leaders during its annual meeting and celebration today, starting at 5:15 p.m. at Chez Josef in Agawam.  The event is hosted by MassMutual Financial Group, Health New England, Excel Dryer, the Springfield Department of Health & Human Services, and Jennifer Endicott. Azell Cavaan, chief communications officer for Springfield Public Schools, and Waleska Lugo-DeJesus, director of the Healing Racism Institute of Pioneer Valley, will serve as emcees.

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    18. Santander Bank branch at MassLive Building in downtown Springfield closing July 10 | masslive.com

      Explore masslive.com (May 28 2015)

      Santander Bank branch at MassLive Building in downtown Springfield closing July 10 | masslive.com

      The Santander Bank branch at 1350 Main St. is shutting down.  The location inside One Financial Plaza, where MassLive also has its offices, is closing its doors effective Friday, July 10.  Customers are being directed to the branch at 590 Sumner Ave. Hours are Monday through Wednesday from 9 a.m. to 3 p.m., Thursday and Friday from 9 a.m. to 5 p.m., Saturday from 9 a.m. to 1 p.m. and closed on Sunday.

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      Mentions:   Springfield

    19. Nuvo Bank, last Springfield-based bank, acquired by Merchants Bank of Vermont | masslive

      Explore masslive.com (Apr 28 2015)

      Nuvo Bank, last Springfield-based bank, acquired by Merchants Bank of Vermont | masslive

      - Nuvo Bank & Trust Co. will be sold to Merchants Bancshares, Inc. of South Burlington, Vermont for $21.8 million or $7.15 cents a share.  Nuvo opened in April 2008 just as the worldwide banking crisis hit hard and was the first new bank company founded in Springfield in two decades.  Nuvo had only one office in the retail area of Tower Square to be close to the city's legal and accounting offices. The company isfocused on business, commercial and industrial loans, rather than retail banking like household checking accounts, although those types of accounts are available.

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      Mentions:   West Springfield   Berkshire Bank   Springfield

    20. United Bank reports $13 million net income, 12-cent dividend | masslive.com

      Explore masslive.com (Apr 22 2015)

      United Bank reports $13 million net income, 12-cent dividend | masslive.com

      United Bank of West Springfield, Massachusetts, and Rockville Bank of Connecticut announced a $369 million merger in November 2013, and the merger became final on April 30, 2014. That's why earnings for the combined banks are being compared with Rockville's 2014 results.

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      Mentions:   West Springfield   Springfield   United Bank

    21. Florence Bank Names Henry Downey VP of Commercial Lending | BusinessWest

      Explore BusinessWest (Apr 14 2015)

      Florence Bank, a mutually owned savings bank serving the Pioneer Valley through nine branch locations, announced the appointment of Henry Downey to the position of vice-president of Commercial Lending.  Downey comes to Florence Bank with more than a decade’s banking experience, most recently at Chicopee Savings Bank, where he served as senior vice president and team leader in the Commercial Lending department. His duties there included managing a commercial-lending team and an extensive loan portfolio. His experience also includes serving as assistant vice president and commercial and loan officer at TD Bank in Springfield, and as an analyst at ...

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      Mentions:   TD Bank   Springfield   Chicopee

    22. MassMutual to Provide More Than $100,000 to Junior Achievement to Expand Financial Literacy Programs | masslive

      Explore masslive.com (Mar 18 2015)

      MassMutual to Provide More Than $100,000 to Junior Achievement to Expand Financial Literacy Programs | masslive

      Massachusetts Mutual Life Insurance Company (MassMutual) today announced that for the third straight year it will provide more than $100,000 to Junior Achievement USA (JA) to provide financial literacy programs to young people in 12 communities across the United States.  'Learning how to make smart money and education decisions at a young age is one of the biggest influences on future financial success,' said Nick Fyntrilakis, Vice President, Community Responsibility, MassMutual. 'We are proud to support Junior Achievement to empower students to take control of their financial future.'

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      Mentions:   MassMutual   Springfield   Nick Fyntrilakis

    23. Hampden Bancorp Stockholders Approve Berkshire Hills Merger | BusinessWest

      Explore BusinessWest (Mar 13 2015)

      Hampden Bancorp Stockholders Approve Berkshire Hills Merger | BusinessWest

      Hampden Bancorp Inc. announced that its stockholders have voted to approve the previously announced merger of Hampden with Berkshire Hills Bancorp Inc. The companies expect to complete the merger in April 2015, although there can be no assurance that the closing will occur then. Consummation of the merger is subject to approval by state and federal regulatory agencies.  On Nov. 4, Hampden and Berkshire announced that they had entered into a definitive merger agreement under which Berkshire will acquire Hampden and its subsidiary, Hampden Bank, in an all-stock transaction. Under the terms of the merger agreement, each outstanding share of ...

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      Mentions:   Springfield

    24. MassMutual exec: 2014 earnings result of customer focus | masslive

      Explore masslive.com (Mar 2 2015)

      MassMutual exec: 2014 earnings result of customer focus | masslive

      The success MassMutual experienced in 2014 and announced Thursday resulted from a focus on the customer, said Michael Rollings, executive vice president and chief financial officer.  'Like anything, success has a lot of drivers here,' Rollings said. 'We've got a diverse book of business.'  MassMutual said Thursday that its net gain from operations before policy owner dividends and taxes – the company's primary earnings measure as a mutual company – was up 27 percent to $2.2 billion.

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      Mentions:   MassMutual   Springfield

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