The parent company of Berkshire Bank is planning to sell off one of its mortgage subsidiaries and exit other non-strategic, non-relationship types of lending, as part of a broader strategic review the company began earlier this year.
East Boston Savings Bank plans to open new branches in Cambridge and Brighton in 2019, bringing the bank up to 40 branches, as it continues to use de novo branches to drive growth.
Brookline Bank has purchased the remaining shares in Eastern Funding, one of its subsidiaries that specializes in commercial lending to small and medium sized businesses, to now own the company outright.
The parent company of Randolph-based Envision Bank is coming off its best quarter since 2017 and since the bank rebranded from Randolph Savings Bank, attributing the success to moves it has made in its mortgage division.
The closures come as new Boston Private President and CEO Anthony DeChellis continues to take a hard look at the bank’s strategy, and as the bank reported $963 million in negative net flows in the wealth management business between Boston Private and its affiliate partners.
The parent company of Rockland Trust has just officially surpassed $11 billion in assets, but it is already thinking about taking the next step.
The parent company of Webster Bank reported a profitable first quarter to start the year and the closing on a purchase of a large residential real estate portfolio in Eastern Massachusetts.
The parent company of Cambridge Trust has completed its purchase of Portsmouth, New Hampshire-based Optima Bank & Trust.
The parent company of Hartford-based United Bank reported another profitable quarter to start the year, but major losses could be coming.
The parent company of Medford-based Century Bank announced net income of $9.4 million for the first quarter of 2019, or $1.69 per Class A share diluted, an increase of 22.2 percent compared to net income of $7.7 million, or $1.38 per Class A share diluted, for the same period a year ago.
Federally-insured credit unions continued to see solid growth in the first quarter of 2018.
The parent companies of Melrose Bank and Pilgrim Bank both reported positive net income and growth in the first quarter of 2018.
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.
Admirals Bank continues to slow losses as it works to bring itself back to profitability.
The parent company of Lowell-based Enterprise Bank reported strong profits and growth in the first quarter, crediting the recent boost from tax reform and continued investment in the bank.
The parent company of Rockland Trust reported another quarter of record earnings in what it sees as a strong economic environment. But loan demand did not pan out as expected, particularly in the upper end of the market.
The parent company of East Boston Savings Bank had another year of explosive growth, but experienced a lower net interest margin due to changes in the country’s tax code and a higher cost of funds as deposit competition and interest rates increase.
It was another quarter of record earnings for the parent company of Brookline Bank that included strong profits and loan growth.
The parent company of Boston Private opened 2018 with a strong first quarter, but continues to closely watch deposit betas and the performance of its wealth division as key indicators for how the company will perform throughout the rest of the year.
With the completed conversion and systems integration of Commerce Bank, Berkshire Bank is ready to push profitability at the now $11.5-billion asset company.
