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Timothy Sullivan

Market Embraces Workforce Housing

MassHousing launched the nation’s most ambitious state-level initiative specifically aimed at building middle-income affordability because we saw the housing market struggling to respond to the housing needs of Massachusetts’s working families.

Laurel Egan Kenny

Treasury Management Helps Banks Diversify Revenue

Supporting the collections, disbursements, concentration, investment and funding activities of client companies are all under the purview of a bank’s treasury management department, a sector that may help banks diversify their revenue streams and bring in long-term, recurring revenue. For nearly a decade, Laurel Egan Kenny, founder and president of Turningpoint Communications, has been helping banks and the fintech companies that support them in the treasury space market their products to banks, as well as helping banks of all sizes grow and differentiate their treasury business. After leading marketing at State Street and what is now Santander in its treasury management and global trade divisions, Egan Kenny went out on her own. While every financial institution offers business banking solutions in one way or another, many smaller banks are following the larger players and investing in the creation or growth of their own treasury management divisions, an idea Egan Kenny believes is now crucial to a bank’s success.

BayCoast Bank has donated $50,000 as part of a $250,000 pledge to the USS Massachusetts Memorial Committee Inc. for capital projects at the Battleship Cove Maritime Museum.

Community Good Works

BayCoast Bank, Jeanne D’Arc Credit Union and North Shore Bank are among those featured in this week’s roundup.

FOMC Members Concerned About Small Banks And CRE Lending

Yesterday’s release of meeting minutes from the Federal Open Market Committee’s July 25-26 meeting garnered plenty of headlines due to the dialogue between FOMC members suggesting a rate increase in December may not be as certain as some had initially thought. But smaller banks were not left out the FOMC’s discussion.