Worcester Business Journal

wbjournal.com | October 28, 2019 | Worcester Business Journal 5 B R I E FS bankHometown finishes $1B Millbury merger e Hometown Financial Group in Easthampton announced Oct. 21 its bankHometown in Oxford has completed its merger with Millbury Savings Bank. Robert Morton, president and CEO of Millbury Savings Bank, is now president and CEO of bank- Hometown. Mat- thew Sosik, former president and CEO of bankHometown, will continue as CEO of Hometown Financial Group and president and CEO of subsidiary bankESB. In the initial announcement of the merger, the compa- nies said there will be no branch closures or staff reductions resulting from the merger. Millbury Savings Bank branches will be rebranded under the bankHome- town name. bankHometown has $1 billion in assets and 15 branches. e bank plans to open a new branch on Grove Street in Worces- ter in early 2020. Worcester's Dive Bar closing Worcester's Dive Bar is set to close next month aer 25 years in operation. e Dive Bar's last night in operation will be Nov. 2. e bar has pushed the local beer scene forward under the direction of husband-and-wife owners Alec Lopez and Sherri Sadowski. e bar, along with sister restaurant Armsby Abbey, introduced in the region the concept of cra beers. Cognex buys Korean company for $195M Natick machine vision systems and bar code reader manufacturer Cognex Corp. has acquired South Korea-based SUALAB for $195 million. SUALAB is developer of deep learning vision soware used to automate visual inspection tasks in industrial markets. e addition of SUALAB's engineering team and intellectual property will be in addition to Cognex's existing deep learning capa- bilities based on technology acquired from ViDi Systems in April of 2017. What does financial freedom mean to you? At Bartholomew & Company, we believe it comes down to sound financial planning and investment advice—expertise you can trust to keep you on track at any stage, whether you're just starting your business or getting ready to retire. It's the kind of guidance we've been delivering for more than 25 years. So that when those important moments come along, you can experience every one of them with confidence. Call us for a complimentary consultation at 508.753.8807, or visit www.bartandco.com. Financial Planning Today for All of Tomorrow's Firsts 370 Main Street, Suite 1000, Worcester, MA 01608 | 508.753.8807 Securities and advisory services offered through Commonwealth Financial Network, ® Member FINRA/SIPC, a Registered Investment Adviser. Continued on Page 6 Give local preference in government projects On Oct. 16, the City of Worcester awarded a $8.5-million construction project to renovate the Worcester Public Library to Northampton firm D.A. Sullivan & Sons, which has extensive experience with library projects. This came after the city government awarded the construction management contract for the $101-million Worcester Red Sox baseball stadium project to Providence-based Gilbane Building Co. and Los Angeles-based AECOM Hunt, both of which have experience will municipal stadiums. When polled online, the majority of WBJ readers said the city should consider local firms first for public contracts. F L AS H P O L L Should the City of Worcester prioritize Central Massachusetts firms when awarding construction projects? Bruce Mathieu Senior Vice President Business Development Officer 978.353.1331 Intelligent BUSINESS Solutions Start here! Info: ICCreditUnion.org or businessbanking@iccreditunion.com Federally Insured by NCUA Like, Friend or Follow Us EXPANSION - with competitive rates for commercial investment and owner-occupied real estate, we can help you realize your expansion or growth plans. "This poll question should not be so cut and dry. My answer is it depends. Construction contracts award should be based on qualifications and price. If a local firm has no experience in the type of project, they should not necessarily get it just because they are local firm. It's important to consider the expertise and experience the firm regarding the project in addition to price." COMMENTS: Yes 58% No 42% Robert Morton, president & CEO of bankHometown

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