1. Articles in category: Financial Services

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    1. Florence Bank Receives Award from U.S. Small Business Administration

      Florence Bank Receives Award from U.S. Small Business Administration

      Florence Bank was recently recognized by the U.S. Small Business Administration (SBA) as the Western Massachusetts Third Party Lender of the Year for loans the bank administers to small businesses in the area. Michael Davey and Erin Couture, both vice presidents and commercial loan officers with the bank, accepted the award on Nov. 8 at an event held during SBA’s annual meeting at Clark University in Worcester. Davey explained that third-party loans, called SBA 504 loans, are offered by the bank in collaboration with certified development corporations such as Granite State Development Corp., Bay Colony Development Corp., and ...

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    2. Polish National Credit Union closing Exchange Street branch following renovations to nearby Chicopee offices

      Polish National Credit Union closing Exchange Street branch following renovations to nearby Chicopee offices

      Polish National Credit Union plans to close its Exchange Street location. An announcement has been posted on the credit union’s website. The decision follows the recent elimination of Thursday, Friday and Saturday hours at Exchange Street location last week. There is no date given for the expected closure.

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    3. PeoplesBank Issues $50,000 Challenge to Financial Institutions in Support of Square One

      PeoplesBank Issues $50,000 Challenge to Financial Institutions in Support of Square One

      One of Square One’s largest and longest-standing donors, PeoplesBank, is taking the season of giving to a new level. The bank has made its annual gift of $10,000 in support Square One’s work with children and families. Now, the company’s leadership is encouraging their peers at other banks and credit unions to match their gift with a donation of their own. The goal for the challenge is to raise an additional $50,000 from others in the banking community this holiday season.

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    4. People’s United closing branches following United Bank merger

      People’s United closing branches following United Bank merger

      Connecticut-based People’s United Bank plans to close three Springfield-area branches in April as part of its takeover of the former United Bank. The branches, closing because they are near other locations, are:

      • a former United branch at 1355 Boston Road in Springfield;
      • a former United Branch at 1414 Main St. in Springfield, at Monarch Place;
      • a location at 85 Elm St. in West Springfield that People’s United bought in 2018 from Farmington Bank.
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    5. KeyBank Recognized as a Leading Disability Employer

      KeyBank Recognized as a Leading Disability Employer

      For the third year, KeyBank was recognized by the National Organization on Disability (NOD) as a Leading Disability Employer. “We are honored to accept this award from the NOD, a leader in inclusion for people with disabilities,” said Kim Manigault, chief Diversity and Inclusion officer. “Inclusion is intentional. This award reflects the work across many lines of business and partnerships that provide supportive experiences for people with disabilities who engage with and work for KeyBank.”

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    6. PeoplesBank Named a ‘Top Corporate Charitable Contributor’ Among Other Honors

      PeoplesBank Named a ‘Top Corporate Charitable Contributor’ Among Other Honors

      The Boston Business Journal has announced the region’s Top Corporate Charitable Contributors, and, for the 12th year in a row, PeoplesBank is among the companies included. Also this month, the bank has been named Best Local Bank for the seventh year and Best Mortgage Lender for the eighth year in the annual Reader Raves survey conducted by the Republican and MassLive. “As a mutual bank, we work really hard to serve both our customers and the community,” said Matthew Bannister, first vice president, Marketing & Innovation at PeoplesBank. “We have a unique ability to help the communities we serve through ...

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    7. Bank of America sells shuttered Westfield office to California investor

      Bank of America sells shuttered Westfield office to California investor

      A California investor bought the former Bank of America office at 10 Main St. last month for $186,375. The price, revealed in documents on file at the Hampden Registry of Deeds, is significantly less than the $915,000 assessment the city placed on the property and the $345,000 sale price it brought back in 1992, when the building last changed hands as part of a bank merger. The replacement cost of the 11,000-square-foot bank building, built in 1900, is $1.44 million, according to city tax documents.

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    8. People’s United Stresses Local Connections as It Acquires United Bank - BusinessWest

      People’s United Stresses Local Connections as It Acquires United Bank - BusinessWest

      People’s United Bank is no longer the small, Springfield-based institution, then known as the Bank of Western Massachusetts, that made its name three decades ago through a strong emphasis on local commercial lending. And the now-Connecticut-based institution is growing again, with a planned acquisition of United Bank that will push its assets well above $50 billion. But local connections are still key to the People’s United ethos, its Massachusetts president says — and he hopes United Bank customers feel the same way

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    9. New Valley Bank & Trust of Springfield opens branch in Sixteen Acres

      New Valley Bank & Trust of Springfield opens branch in Sixteen Acres

      New Valley Bank & Trust will open its first branch office next week at 1930 Wilbraham Road the city’s Sixteen Acres section. New Valley is the only bank with its headquarters in Springfield and the first new bank to start up in the city since 2008. It opened offices in One Monarch Place downtown in May. This second office in Sixteen Acres is its first retail branch with a drive-thru and Saturday hours.

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    10. Florence Bank to build at former Hu Ke Lau site in Chicopee; restaurant may return at new location

      Florence Bank to build at former Hu Ke Lau site in Chicopee; restaurant may return at new location

      Florence Bank plans to build a new branch office on a portion of the old Hu Ke Lau site on busy Memorial Drive, but that doesn’t necessarily mean the end of the longtime Polynesian showplace. The bank’s plans for the branch are detailed in documents filed with the Chicopee Planning Department, where developers are looking for site approval, said Planning Director Lee M. Pouliot. The project is listed on the agenda for Thursday at 7 p.m. at the Rivermill Senior Center on 5 West Main St., Classroom 30.

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    11. TD Bank Names Steve Webb Regional President for Southern New England

      TD Bank Names Steve Webb Regional President for Southern New England

      TD Bank named Steve Webb regional president for Southern New England. In this role, Webb will lead commercial and retail banking teams in Massachusetts, Rhode Island, Upstate New York, and Connecticut. “Steve’s leadership and strategic mindset are widely recognized at TD Bank and within the New England business community, making him a clear choice to lead this region,” said Chris Giamo, head of Commercial Bank. “We are confident that Steve, along with the entire Southern New England TD team, will continue to drive growth and market share in this important geography.”

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    12. PeoplesBank Internship Program Named to Top-100 List in the U.S.

      PeoplesBank Internship Program Named to Top-100 List in the U.S.

      PeoplesBank joined Google, Facebook, BMW, Southwest Airlines, and more top companies on the 2019 WayUp Top 100 Internship Programs list. WayUp is a professional networking application that connects college students and recent graduates to career opportunities with reputable employers. According to WayUp, the bank was selected because “PeoplesBank interns not only get a behind-the-scenes look at what it takes to operate a bank, they also get hands-on experience to work on passion projects like Habitat for Humanity’s Build Days.” The list is determined by a panel of industry experts who consider everything from public votes to internship-program highlights. More ...

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    13. Former Yankee Pedlar owner Jeff Clayton says PeoplesBank project ‘looks great’

      Former Yankee Pedlar owner Jeff Clayton says PeoplesBank project ‘looks great’

      Jeff Clayton probably shouldn’t take Exit 16 from Interstate 91 to get to work at the Martin J. Clayton insurance Agency. The more direct route would be Exit 17A. But Exit 17A wouldn’t take him past the Yankee Pedlar, the restaurant that his family owned for 22 years before selling the buildings and land to PeoplesBank in 2017 for $1.16 million. Two years of design and construction followed and on Sept. 3 PeoplesBank will open its new Pedlar banking center at the site, having retained the portions of the old Hildreth House as a community room and ...

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    14. MassMutual Foundation donates $1.5M for Way Finders Housing Center at former Peter Pan site

      MassMutual Foundation donates $1.5M for Way Finders Housing Center at former Peter Pan site

      The MassMutual Foundation has donated $1.5 million to Way Finders toward the new Housing Center the agency is building at the former Peter Pan Bus Lines site at 1780 Main St. MassMutual Foundation announced the donation Tuesday. The $1.5 million, along with some other donations, puts Way Finders 75% of the way to its fundraising goal of raising $2.5 million for the $16.8 million building, said Peter A. Gagliardi, chief executive officer of Way Finders.

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    15. 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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    16. 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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    17. 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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    18. 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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    19. 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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    20. 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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    21. 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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    22. 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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