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.
The rate of consolidation in the banking industry has lately been a cause for concern, as fewer banks typically means reduced access to banking services and small business loans.
The parent company of Rockland Trust announced yesterday that it would acquire the parent company of Hyde Park-based Blue Hills Bank in a deal that will give Rockland the largest deposit share in Massachusetts, the largest branch network and bring the company over $11 billion in assets.
In this week’s Community Good Works, banks donate to nonprofits, arts centers and marathons in their communities.
The parent company of Hyde Park-based Blue Hills Bank made solid gains in the first quarter, despite a slowdown in profits from the same period last year.
Blue Hills Bank makes a large donation to celebrate its hometown’s 150-year anniversary, an Eagle Scout is rewarded by a local bank and realtors pitch in to help build a Habitat home in Duxbury.
Absent a fourth quarter that involved tax reform and pension settlement write downs, the parent company of Blue Hills Bank had a strong year driven by commercial real estate growth.
Industry veterans take on new roles in droves this week.
Blue Hills Bancorp, the holding company of Blue Hills Bank, reported net income of $3.8 million, or $0.16 per diluted share, for the third quarter of 2017, compared to net income of $1.6 million, or $0.07 per diluted share, for the third quarter of 2016.
Seven mutual banks and holding companies converted to stock companies between 2010 and 2014, often an indicator that they may be fishing for a buyer. Four of those seven will complete the state-mandated three-year waiting period following the completion of an initial public offering, and be eligible for acquisition this year.
Blue Hills Bank staff get their hands dirty as volunteer landscapers and East Cambridge Savings Bank writes a $10K check to support local businesses in this week’s community good works.
Tighe & Bond adds three to its team, Eastern Bank announced two leadership appointments and 10 other organizations announce personnel changes in this week’s personnel file.
Blue Hills Bancorp Inc., the holding company of Blue Hills Bank, saw net income of $3.9 million, up $2.5 million from this time last year, as the company moves to reduce the amount of and change the composition of securities it manages.
Promotions abound in this week’s Personnel news roundup.
Rachel Chisholm describes herself as a “people person,” and it is apparent that she thrives on her community involvement, dedication to advancing her employees and assisting her customers. “I love mentoring, developing, coaching people. Between that and the customers, I think that’s my favorite – really interacting. I’m a people person, so having that interaction with people is really the highlight.”
German investors have acquired 148 State St. in Boston, a 64,500-square-foot office building anchored by the headquarters of Public Consulting Group, for $41 million.
Blue Hills Bank recently named Kevin F. Malone its new executive vice president of commercial banking.
Blue Hills Bank, Cushman & Wakefield and Fidelity Bank are among those institutions announcing changes to personnel in this week’s roundup.
Blue Hills Bank, Cambridge Chamber of Commerce and MassDevelopment are among those announcing changes to personnel in this week’s roundup.