1. Articles in category: Financial Services

    25-48 of 515 « 1 2 3 4 5 ... 20 21 22 »
    1. 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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    2. 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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    3. UMassFive College Credit Union Continues to Move Beyond Its Roots

      UMassFive College Credit Union Continues to Move Beyond Its Roots

      As the name suggests, the UMassFive College Credit Union was launched to serve employees at UMass Amherst. But it quickly expanded its mission to the other schools in that region, and then beyond employees of those institutions. Today, the process of expansion and evolution continues, and touches many realms, from new branches to new technology to new member sponsors. In short, those humble beginnings have been left well behind.

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    4. KeyBank appoints new Business Banking relationship manager for the Western Massachusetts Market

      KeyBank appoints new Business Banking relationship manager for the Western Massachusetts Market

      KeyBank announced the appointment of Thomas Tierney as a business banking relationship manager for the Western Massachusetts market. In this role, Mr. Tierney will manage commercial relationships for businesses with annual revenues ranging from $3 million to $20 million. In addition to supporting the bank’s existing client relationships. Tierney will be responsible for generating new business banking opportunities, and expanding commercial loans and deposit relationships for the bank. He will report to Allison Standish-Plimpton who serves as senior vice president and business banking sales leader for KeyBank’s Connecticut and Western Massachusetts markets.

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    5. Florence Bank opens Springfield branch; donates to Greenleaf Community Center (photos)

      Florence Bank opens Springfield branch; donates to Greenleaf Community Center (photos)

      The new office is Florence Bank’s first in Springfield and its second in Hampden County following one that opened at 1010 Union St. in West Springfield in September 2017. Headquartered in the Florence section of Northampton, Florence Bank plans to build two or three more Hampden County branches over the next few years, with at least one starting construction 2019, said President John F. Heaps Jr.

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    6. MassMutual pilots ‘LiveMutual’ philanthropy in North End of Springfield, Memphis

      MassMutual pilots ‘LiveMutual’ philanthropy in North End of Springfield, Memphis

      Live in Springfield’s North End and you might not have a place to cash your paycheck or open a savings account. “We don’t have a bank,” said Jose Claudio, chief operating officer of the New North Citizens Council in Springfield. “There are a lot of barriers. Barriers to jobs. Barriers to budgeting money properly.” With its newly launched “Live Mutual” initiative, MassMutual and the MassMutual Foundation want to help partners in the North End — and eventually in Mason Square and downtown — address a lack of access to financial resources and offer education in handling money, and to improve ...

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    7. Monson Savings Bank Asks for Community Input on Charitable Giving

      For the ninth year in a row, Monson Savings Bank is asking the community to help plan the bank’s community giving activities by inviting people to vote for the organizations they would like the bank to support during 2019. “Every year, we donate over $125,000 to organizations doing important work in the communities we serve,” said Steve Lowell, president of Monson Savings Bank. “For several years now, we’ve been asking the community for input on which groups they’d like us to support. We’ve been so pleased by how many people inquire each year as to ...

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    8. New Valley Bank & Trust has state and federal OK, plans 2 office locations

      New Valley Bank & Trust has state and federal OK, plans 2 office locations

      New Valley Bank & Trust Co., the first new bank to open in Springfield in 11 years, has preliminary OKs from state and federal regulators and plans to open offices in early 2019. Before opening, New Valley Bank & Trust must raise $25 million to $30 million in capital, money it will use to make loans as it begins business, said Jeff Sullivan, New Valley's proposed president and CEO. New Valley has contacted about 500 potential investors.

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    9. Michael Daly Steps Down as President, CEO of Berkshire Hills Bancorp

      Michael Daly stepped down Monday as president, CEO, and director of Berkshire Hills Bancorp, Berkshire Bank’s holding company. Berkshire Bank President Richard Marotta has been named CEO and president of the company and CEO of the bank. Sean Gray, chief operating officer of Berkshire Bank, will replace Marotta as bank president. The move comes a year after the financial institution moved its headquarters from Pittsfield to Boston, and the purchase of Worcester-based Commerce Bank helped grow Berkshire to its current $12 billion in assets, making it the largest independent Massachusetts-based bank.

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      Mentions: Berkshire Bank
    10. MassMutual and the Hampden County Bar Association Legal Clinic expand Pro Bono Partnership

      MassMutual and the Hampden County Bar Association Legal Clinic expand Pro Bono Partnership

      Springfield - Expanding its relationship with the Hampden Country Bar Association (HCBA) Legal Clinic, the MassMutual Foundation, Inc. - a dedicated corporate foundation established by Massachusetts Mutual Life Insurance Company (MassMutual) - announced that it is providing the Hampden County Bar Association more than $300,000 to help underserved residents in the Springfield community access resources and education that will empower them to effectively navigate debt-related legal issues.

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    11. Michael T. Oleksak Joins bankESB as VP of Commercial Lending

      Michael T. Oleksak Joins bankESB as VP of Commercial Lending

      Matthew Sosik, president and CEO of bankESB, announced that Michael T. Oleksak has been hired as vice president of Commercial Lending. Oleksak brings more than 15 years of experience in banking, most recently serving as the vice president of Commercial Lending for Westfield Bank, managing a portfolio of more than $25 million. Before Westfield Bank, Oleksak was the assistant vice president, Business Banking officer at United Bank.

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    12. MassMutual announces $1.72 billion dividend in 2019

      MassMutual announces $1.72 billion dividend in 2019

      Massachusetts Mutual Life Insurance Co. said Monday that its board of directors has approved a record $1.72 billion estimated dividend payout in 2019. It's an increase of more than $125 million more than 2018, and marks the 151st consecutive year that MassMutual will be paying a dividend, according to a news release. The 2017 dividend was $1.6 billion. The 2019 estimated payout reflects a dividend interest rate of 6.4 percent for eligible participating policies, maintaining the same rate as 2018.

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    13. 25 employees laid off at Liberty Mutual in Springfield

      25 employees laid off at Liberty Mutual in Springfield

      Liberty Mutual Friday laid off about 25 employees at its 1 Federal St. office as work is outsourced to "an external partner," a spokesman said. "These changes will impact approximately 25 employees in Springfield who currently perform administrative tasks for field legal offices. These employees will have the opportunity to pursue other job openings at Liberty Mutual, or we will support each of them with outplacement assistance.

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    14. Invesco, MassMutual Announce Strategic Combination of Invesco and OppenheimerFunds

      Invesco Ltd. and MassMutual announced that they have entered into a definitive agreement, whereby Invesco will acquire MassMutual asset-management affiliate OppenheimerFunds Inc. In turn, MassMutual and OppenheimerFunds employee shareholders will receive a combination of common and preferred equity consideration, and MassMutual will become a significant shareholder in Invesco, with an approximate 15.5% stake. This strategic transaction will bring Invesco’s total assets under management to more than $1.2 trillion, making it the 13th-largest global investment manager and sixth- largest U.S. retail investment manager, further enhancing the company’s ability to meet client needs through its comprehensive range ...

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    15. United Bank moves into Webster Bank offices in East Longmeadow, Springfield, West Springfield, closes others

      United Bank moves into Webster Bank offices in East Longmeadow, Springfield, West Springfield, closes others

      United Bank has taken over six Wesbter Bank branches it bought from Webster back in May. The locations, including the West Springfield branch at 50 Elm St.,  the Springfield branch at 1355 Boston Road and an East Longmeadow branch at 62 Center Square, officially became United Bank branches Oct. 9. Signs were changed. The other branches were Waterford and Groton in Connecticut and Westerly, Rhode Island. The bank converted customer accounts over Columbus Day weekend. United's branches at 95 Elm St., West Springfield, 459 Main St. in Indian Orchard and 94 Shaker Road in East Longmeadow have all closed.

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    16. Freedom Credit Union merges with West Springfield Federal Credit Union

      Freedom Credit Union merges with West Springfield Federal Credit Union

      Freedom Credit Union of Springfield announced Monday it is merging with the much smaller West Springfield Federal Credit Union. West Springfield Federal Credit Union will conduct business as Freedom Credit Union, according to the release. The new Freedom Credit Union will have 11 branches -- including the current West Springfield Credit Union Branch at 58 Union St. --  and more than 30,000 members once the merger is completed. The credit unions expect regulatory approval by the end of the year.

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    17. PeoplesBank unveils plan for financial services center at former Yankee Pedlar in Holyoke

      PeoplesBank unveils plan for financial services center at former Yankee Pedlar in Holyoke

      The Planning Board conducted a public hearing and site plan review Tuesday night of PeoplesBank's ongoing renovation of the former Yankee Pedlar Inn at 1850 Northampton St. The bank hired Western Builders as the lead contractor. PeoplesBank paid $1.2 million in September 2017 for the site, which includes the main house and several smaller structures. Crews already demolished the former Opera House, Carriage House and gift shop. Only the Hildreth House, or main building, remains.

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    18. Peoples United Foundation Awards $62,000 in Grants

      Peoples United Foundation Awards $62,000 in Grants

      People’s United Community Foundation, the philanthropic arm of People’s United Bank, N.A., today announced that it awarded $62,000 to Western and Central Massachusetts non-profits during its second grant cycle of 2018.  Funding was allocated to 13 non-profit organizations in support of activities that ranged from basic needs services and affordable housing initiatives, to education and workforce development programs. Grant recipients included:

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    19. MassMutual lays off workers in Enfield, elsewhere; no impact in Springfield

      MassMutual lays off workers in Enfield, elsewhere; no impact in Springfield

      MassMutual laid off workers Tuesday as part of a reorganization of its Workplace Solutions retirement plan business, spokeswoman Laura Crisco said. "MassMutual is making significant investments in our retirement business to simplify and enhance the experience for plan sponsors, financial advisors, third party administrators, and plan participants," she said in a written statement. "At the same time, we continually evaluate our operations to ensure we are working as efficiently and effectively as possible, delivering the best experience to our customers and the greatest value to our policyowners.

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    20. PeoplesBank Again Named a Top Corporate Charitable Contributor - BusinessWest

      PeoplesBank Again Named a Top Corporate Charitable Contributor - BusinessWest

      The Boston Business Journal has announced the region’s Top Corporate Charitable Contributors, and, for the 11th year in a row, PeoplesBank is among the companies included.  The region’s top charitable companies, which include, in many instances, the companies’ corporate foundations, will be honored at the Boston Business Journal’s 13th annual Corporate Citizenship Awards on the evening of Thursday, Sept. 6 at Fenway Park in Boston.

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    21. United Financial Bancorp Announces Q2 Earnings

      United Financial Bancorp Inc., the holding company for United Bank, announced results for the quarter ended June 30, 2018. The company reported net income of $15.6 million, or $0.31 per diluted share, for the quarter ended June 30, 2018, compared to net income for the linked quarter of $15.8 million, or $0.31 per diluted share. The company reported net income of $16.2 million, or $0.32 per diluted share, for the quarter ended June 30, 2017.

       

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      Mentions: United Bank
    22. PeoplesBank buys First National Bank of Suffield for $60M

      PeoplesBank buys First National Bank of Suffield for $60M

      PeoplesBancorp, parent of PeoplesBank, will buy First Suffield Financial, Inc., parent company of The First National Bank of Suffield, Connecticut, for $60 million. First Suffield Financial shareholders will receive $12,001.85 in cash per share, according to a news release. PeoplesBank is mutual bank and has 18 banking offices in Western Massachusetts and assets exceeding $2.4 billion.

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      Mentions: Holyoke
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