Banking and Lending

Treasury Management Helps Banks Diversify Revenue

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.

MassDevelopment Provides Nearly $23M In Bonds For JP Nursing Facility

MassDevelopment Provides Nearly $23M In Bonds For JP Nursing Facility

MassDevelopment has issued $22.8 million in tax-exempt bonds for Lutheran Home of Jamaica Plain Inc., a subsidiary of Ascentria Care Alliance Inc. Ascentria used bond proceeds to buy Laurel Ridge Rehabilitation & Skilled Nursing Center, a 120-bed skilled nursing facility in Boston’s Jamaica Plain neighborhood. Berkshire Bank purchased the bonds.

Giant Shoe Sculpture Seeks New Home

Giant Shoe Sculpture Seeks New Home

Team Haverhill and Haverhill Bank are partnering to find a new home for one of the original shoe sculptures created for the Soles of Haverhill project. The shoe, designed by luxury department store Nordstrom, has been on display at the bank’s Lafayette Square branch since 2009. The shoe sculptures salute Haverhill’s celebrated manufacturing history as the Queen Slipper City.

Repeal Of Volcker Rule Moves Closer

Repeal Of Volcker Rule Moves Closer

There has been growing momentum throughout the year to alter or repeal the Volcker Rule. Earlier this month, the U.S. Office of the Comptroller of the Currency sent out a formal notice soliciting comment on whether certain parts of the rule should be revised.

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