Workers Credit Union Surpasses 100K Members and Grows Assets in 2018
Fitchburg-based Workers Credit Union surpassed 100,000 members in 2018, while growing assets by nearly 10 percent to roughly $1.8 billion.
Profits at Eastern Bank Swell in 2018
Eastern Bank reported another very profitable year, reporting annual earnings in 2018 that exceeded those of similarly-sized peers such as Berkshire Bank and Rockland Trust.
New Boston Private CEO Says Company Has ‘Receptivity’ for Change
Under the rein of former CEO Clay Deutsch, Boston Private and its parent company went through a great deal of change, as the company refocused its wealth management and private banking segments.
Berkshire Bank Q4 Earnings Slow Thanks to CEO Transition, Technology Changes
In his first earnings call as new CEO of Berkshire Bank, Richard Marotta stuck to the numbers, kept on point and spoke very little of the leadership transition that saw longtime CEO Michael Daly depart under controversial circumstances.
Commercial Lending, HSA Drive Strong Q4 at Webster Bank
Strong commercial lending and a surge of new health savings accounts helped drive growth at the parent company of Webster Bank.
Rockland Trust Continues to Fill in Footprint in Key Areas
Rockland Trust continues to fill in holes in its growing franchise, making successful gains in the Boston, Worcester and Cape Cod markets.
Century Bank Reports Record Earnings for 2018 While Nonperforming Assets Rise
The parent company of Medford-based Century Bank had record earnings for the year of 2018.
Employer Confidence Weakens in December
Massachusetts employers gave a big “Bah Humbug” to the year-end economy as business confidence withered in the face of a government shutdown and the largest one-month stock market decline since the Great Depression.
MBA Charitable Foundation Announced Record 2018 Community Grants
The Massachusetts Bankers Association recently announced that its charitable foundation has set a new record in its annual year-end community grant season, gifting 45 grants totaling $163,000.
More Single-Family Homes Under Agreement in October, While Condominiums Fall
The number of single-family homes put under agreement in the month of October rose 9 percent over the last year, while condominium pending sales were down 5 percent over last year, according to the Massachusetts Association of Realtors.
United Bank’s Growth Fails to Meet Expectations
Competitive pricing continued to slow loan growth at the parent company of Hartford-based United Bank in the third quarter of 2018.
Rockland Trust Continues to Build Franchise in Worcester Area
While much of the recent focus has been on Rockland Trust’s planned acquisition of Blue Hills Bank and its expansion in the Boston area, the company has also been busy building out its franchise in Worcester and Central Massachusetts.
Boston Private Executives Explain Latest Divestiture and Layoffs
The recent divestiture in wealth management subsidiaries could free up capital for future acquisition opportunities, while staff reductions were an attempt to make up for slow growth, Boston Private executives said on an earnings call last week.
Century Bank Reports Profitable Q3 Despite CRE Dip
Medford-based Century Bank had a profitable third quarter of the year, but saw total commercial real estate volume decline on an annual basis.
Marginal Profits and Growth at Melrose Bank in Q2
Growth and profits at the parent company of Melrose Bank continued to grow in the second quarter, but at a marginal pace.
Americans Focus on Debt Reduction as Debt Climbs
More than half of Americans are placing debt reduction as their top priority this year.
Division of Banks July Branch Activity
The Massachusetts Division of Banks in July granted permission to the City of Boston Credit Union to expand its membership to those that live, work or attend school in Middlesex County, while also approving a number of branch moves.
Residential Real Estate Volume Dips for Fourth Consecutive Time at HarborOne
Residential real estate volume at the parent company of Brockton-based HarborOne Bank slowed for the fourth consecutive time in the second quarter.
Enterprise Bank Enjoys Solid Second Quarter
The parent company of Lowell-based Enterprise Bank reported net income of $7.6 million, or $0.64 per diluted share, an increase of $2 million compared to the same three-month period in 2017.
Consumer Credit Slows in June
The growth of consumer spending slowed in June, coming in under projections of economists, according to recent data from the Federal Reserve.
