1. Articles in category: Financial Services

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    1. River Valley Co-op exceeds $5 million financing goal for Easthampton store

      River Valley Co-op exceeds $5 million financing goal for Easthampton store

      River Valley Co-op said this week that members have loaned $5.2 million toward its new store in Easthampton. That exceeded the co-op’s goal of raising $5 million. The loans came form 300 members. Total development costs are projected to be about $17 million. The co-op expects more economic development financing from other sources, according to a news release. River Valley Co-op opened its first store at 330 North King St. in Northampton in 2008. It said it expects construction of the Easthampton store to begin this fall and for the store to be open in the fall of ...

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    2. Greenfield Cooperative Bank Maintains a Solid Pace of Growth

      Greenfield Cooperative Bank Maintains a Solid Pace of Growth

      Like most all bank presidents in the 413, Michael Tucker would concede that a great many of the region’s communities are heavily populated with financial institutions, or “overbanked,” to use the term most would put into play. He’s inclined to include Greenfield on that list, and gestures out the window of his office to make his point. “They used to call the other end of the street Bank Row,” he said, referring to a stretch of Federal Street now occupied by what once were stately bank offices, many of them redeveloped for other uses. “They really should call ...

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    3. PeoplesBank preserves Yankee Pedlar memories on site of Holyoke landmark

      PeoplesBank preserves Yankee Pedlar memories on site of Holyoke landmark

      PeoplesBank president and CEO Thomas Senecal said that anyone could have bought the failed Yankee Pedlar restaurant property on Northampton Street. “But most buyers wouldn’t have done what we did with it,” he said. What the Holyoke-based bank did was to preserve the original Hildreth House mansion as a community room and meeting space, while building a state-of-the-art banking center and branch office. While Senecal wouldn’t say how much the new office costs, he said it is more expensive than an average new bank branch.

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    4. New Valley Bank & Trust Co. Officially Opens Its Doors

      New Valley Bank & Trust Co. Officially Opens Its Doors

      Springfield’s first startup bank in 11 years has officially opened its doors. New Valley Bank & Trust Co. received final regulatory approval and staged a press conference on June 10 to celebrate what co-founder Jeff Sullivan called “a business bank for the ambitious.” “We’re mindful of the privilege we’ve been granted, and we intend to not only be responsive to our shareholders, but to be responsible to the communities we serve,” co-founder Frank Fitzgerald added during a gathering of supporters, co-investors, business leaders, and elected officials.

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    5. Fortune 500: Where did Massachusetts companies like MassMutual and General Electric rank? - masslive.com

      Fortune 500: Where did Massachusetts companies like MassMutual and General Electric rank? - masslive.com

      MassMutual is No. 84 on the Fortune 500 list of the largest companies, with $39.2 billion in revenue and $398 million in profits.  The prestigious list came out in the June edition of the magazine and online this week.  It’s MassMutual’s 25th year on the list, Fortune said. Last year it was ranked at 93. MassMutual has been in the coveted Fortune 100 since 2013.

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    6. Wellfleet insurance moving into ‘inspirational’ space in Springfield’s Tower Square; name will appear on building

      Wellfleet insurance moving into ‘inspirational’ space in Springfield’s Tower Square; name will appear on building

      Wellfleet’s new office space on the 10th, 11th and 12th floors of Tower Square is “inspirational”, company president and CEO Drew DiGiorgio said Friday at a news conference formally announcing the company’s move downtown. Wellfleet has outgrown its space on Roosevelt Avenue and is expanding to Tower Square, taking over about 50,000 square feet of office space in the 28-floor tower. MassMutual subsidiary Barings previously occupied the space.

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    7. Florence Bank Recognizes 11 People for Community Service, Grants $5,500 to 11 Nonprofits

      Florence Bank Recognizes 11 People for Community Service, Grants $5,500 to 11 Nonprofits

      In 2011, it seemed a leukemia diagnosis was the worst thing that could happen to Gayle Bradley’s grandson. But in 2015, after four years of remission, the then-10-year-old Luke Bradley relapsed and also contracted bacterial meningitis. Luke spent six weeks in intensive care, suffered seizures, and barely survived the damage to his ventricles and brain. Luke spent 15 months living in a hospital and recovered slowly. Now, he is in remission once again, and just completed his freshman year of high school. Clearly impacted by the trauma of Luke’s illness, his family founded a nonprofit, called LukeStronger Inc ...

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    8. Gareth Ross to Head MassMutual’s Enterprise Technology and Experience Organization

      Gareth Ross to Head MassMutual’s Enterprise Technology and Experience Organization

      MassMutual announced that Gareth Ross has been named head of the new Enterprise Technology and Experience (ETX) organization, which is responsible for all of the company’s internal and external technology and digital efforts, as well as direct-to-consumer marketing efforts. Industry leaders Arthur Riel and Jim Routh have also joined MassMutual and the ETX organization as head of Core Technology & Initiatives and head of Enterprise Information Risk Management, respectively. “Gareth brings a distinct combination of strategic vision and proven ability to build and lead top teams to this expanded role,” said Roger Crandall, MassMutual chairman, president, and CEO. “I am ...

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    9. New Valley Bank & Trust Co., first Springfield bank in 11 years, opens Thursday

      New Valley Bank & Trust Co., first Springfield bank in 11 years, opens Thursday

      New Valley Bank & Trust Co., the first startup bank in Springfield in 11 years, will begin opening accountsand accepting deposits on Thursday, May 30. New Valley — the only bank with its headquarters in Springfield — received its final regulatory approval, this one from the Federal Reserve Bank of Boston, on Wednesday.

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    10. MassMutual moving Barings out of Tower Square; Springfield-grown Wellfleet taking its place

      MassMutual moving Barings out of Tower Square; Springfield-grown Wellfleet taking its place

      Barings, the investment management arm of Springfield’s MassMutual, is closing its Springfield location in Tower Square. The move has cleared the way for another insurance company, Wellfleet, to move in. Barings has been relocating employees away from Springfield since it opened a headquarters in Charlotte, North Carolina, in 2016, said spokeswoman Kelly Smith in an email Monday. She offered no further detail about when the Springfield office would finally close.

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    11. Berkshire Bank Announces 2019 Volunteer Service X-ellence Award Winners

      Berkshire Bank Announces 2019 Volunteer Service X-ellence Award Winners

      Berkshire Bank announce the 2019 Volunteer Service X-ellence Award winners: Leonard O’Dea, money desk officer in Pittsfield, for his leadership and individual volunteer service activities outside of his role at the bank; Melissa Myers, compliance analyst in Pittsfield, for her leadership and service in both company-supported and individual volunteer activities; and Shanatia Bygrave, financial services representative in Hudson, N.Y., for her leadership and participation in the bank’s corporate volunteer program.

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      Mentions: Berkshire Bank
    12. PeoplesBank Named Second-fastest-growing Bank in Massachusetts

      PeoplesBank Named Second-fastest-growing Bank in Massachusetts

      he Boston Business Journal published its list of the fastest-growing banks in Massachusetts, and, following its acquisition of First National Bank of Suffield, PeoplesBank ranked second on the list. “About 50% of our growth came from the merger,” said Brian Canina, chief financial officer of PeoplesBank. “But the untold story is that the rest of that growth was organic. We attribute our organic growth to our mutual charter. We do not have to divert earnings to shareholders, so we can reinvest in our organization and the communities we serve. That means improved technology, better products and services — including rates and ...

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      Mentions: Holyoke
    13. Florence Bank Names President’s Award Winners for 2019

      Florence Bank Names President’s Award Winners for 2019

      Florence Bank recently announced that Justin LaMontagne and Jennifer Halpin were named the recipients of its 2019 President’s Award. The President’s Award is a tradition established by the bank in 1995, affording employees opportunities to nominate their peers for this prestigious award that recognizes outstanding performance, customer service, and overall contribution to Florence Bank. LaMontagne and Halpin were nominated by numerous colleagues.

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    14. MassMutual, with more than 10,000 employees worldwide, has eliminated traditional job titles

      MassMutual, with more than 10,000 employees worldwide, has eliminated traditional job titles

      Springfield-based MassMutual has eliminated traditional job titles, meaning roles like "assistant vice president" no longer exist within the company. Susan Cicco, MassMutual's head of Human Resources and Employee Experience, said the titles were confusing and didn't accurately reflect what employees contributed to the organization.

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    15. United Bank puts former West Springfield headquarters on the market for $3.35M

      United Bank puts former West Springfield headquarters on the market for $3.35M

      United Bank, now based in Hartford, has put its former headquarters at 95 Elm Street in West Springfield on the market for $3.35 million. United Bank merged in 2014 with the former Rockville Bank in Connecticut. The resulting bank took the United name but moved its headquarters to Connecticut.

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    16. Longtime TD Bank Executive David Glidden to Take Reins at Liberty Bank

      Longtime TD Bank Executive David Glidden to Take Reins at Liberty Bank

      Connecticut-based Liberty Bank announced that David Glidden will serve as its new president and CEO, effective March 18, succeeding Chandler Howard, who has led the bank since 2007. “We extend a warm welcome to David as he joins Liberty Bank,” said Mark Gingras, chairman of the Liberty Bank board of directors. “After an extensive, nationwide search, we are confident that David’s leadership experience and remarkable achievements will lead Liberty Bank toward a future of continued growth, outstanding customer service, and community involvement.”

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    17. New Valley Bank & Trust names senior staff, board of trustees | masslive.com

      New Valley Bank & Trust names senior staff, board of trustees | masslive.com

      New Valley Bank & Trust Co., the first new bank to open in Springfield in 12 years, announced its board of trustees and key senior staff members Tuesday.  New Valley will have its executive offices and a small walk-up retail branch in the Monarch Place office tower downtown. It is also planning to open a branch office in Sixteen Acres.

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    18. Community Bank reopens renovated Tower Square office in Springfield

      Community Bank reopens renovated Tower Square office in Springfield

      Community Bank cut a ceremonial ribbon Thursday to mark a renovation of its offices in the Tower Square retail mall, and announced $12,500 in donations to three local groups. Springfield Boys & Girls Club received $7,500 and YMCA of Greater Springfield and Big Brothers Big Sisters of Hampden County each received $2,500 in a brief ceremony attended by Springfield Mayor Domenic J. Sarno at the branch office. The bank was once Nuvo Bank & Trust Co., which changed its name in May 2017 to Community Bank following a series of mergers that ended with Community Bank System buying Merchants ...

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    19. New Florence Bank branch in Springfield features fast cash-handling technology, coffee bar (photos, video)

      New Florence Bank branch in Springfield features fast cash-handling technology, coffee bar (photos, video)

      Local officials, employees and stakeholders were on hand Wednesday to officially cut the ribbon on Florence Bank’s newest Pioneer Valley branch on Allen Street in Springfield. The new branch, which officially opened in December, has an open floor plan with two teller pods and technology for quick cash handling. The location also features a drive-up ATM with SMART technology for easy depositing and a comfortable waiting area inside with a coffee bar and free Wi-Fi.

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    20. MassMutual Significantly Expands Suite of Employee Benefits | Business Wire

      MassMutual Significantly Expands Suite of Employee Benefits | Business Wire

      To better meet the needs of a diverse and growing workforce and continue to attract top talent, Massachusetts Mutual Life Insurance Company (MassMutual) has announced a significant expansion of its employee benefit offerings. The introduction of several brand new offerings complements enhancements to existing benefits, providing a comprehensive suite of options available to employees of all ages.

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      Mentions: MassMutual
    21. Florence Bank Unveils Second Hampden County Branch in Springfield

      Florence Bank Unveils Second Hampden County Branch in Springfield

      Florence Bank opened its second Hampden County branch at 1444 Allen St. in Springfield on Dec. 19, and a ribbon-cutting ceremony is slated for Wednesday, Jan. 16 at 9 a.m. “We’re very pleased to be expanding our presence in Springfield,” said John Heaps Jr., Florence Bank’s president and CEO. “Our focus is on providing great customer service and helping to reinvigorate the community.” Bank employees, customers, board members, and corporators will be present for the ribbon cutting, along with invited guests — among them Springfield business and civic leaders, including Mayor Domenic Sarno.

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    22. At bankESB, Growth Continues on a Number of Fronts

      At bankESB, Growth Continues on a Number of Fronts

      In this era of rampant mobile banking, opening a physical branch is a different proposition than it used to be, Matt Sosik said. But it’s still an important one. “At this point in the cycle of our industry, branching has fallen by the wayside a little bit,” said Sosik, president and CEO of bankESB, which recently opened its 11th branch on Sargeant Street in Holyoke — a move that, despite the declining emphasis on bricks and mortar, made a lot of sense. “We feel we’ve been banking with the people of Holyoke for years and years, so Holyoke is ...

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