Worcester Business Journal

wbjournal.com | October 3, 2022 | Worcester Business Journal 17 Statement of Ownership, Management, and Circulation (All Periodicals Publications Except Requester Publications) 1. Publication Title 2. Publication Number 3. Filing Date _ 4. Issue Frequency 5. Number of Issues Published Annually 6. Annual Subscription Price 7. Complete Mailing Address of Known Office of Publication (Not printer) (Street, city, county, state, and ZIP+4 ® ) Contact Person Telephone (Include area code) 8. Complete Mailing Address of Headquarters or General Business Office of Publisher (Not printer) 9. Full Names and Complete Mailing Addresses of Publisher, Editor, and Managing Editor (Do not leave blank) Publisher (Name and complete mailing address) Editor (Name and complete mailing address) Managing Editor (Name and complete mailing address) 10. Owner (Do not leave blank. If the publication is owned by a corporation, give the name and address of the corporation immediately followed by the names and addresses of all stockholders owning or holding 1 percent or more of the total amount of stock. If not owned by a corporation, give the names and addresses of the individual owners. If owned by a partnership or other unincorporated firm, give its name and address as well as those of each individual owner. If the publication is published by a nonprofit organization, give its name and address.) Full Name Complete Mailing Address 11. Known Bondholders, Mortgagees, and Other Security Holders Owning or Holding 1 Percent or More of Total Amount of Bonds, Mortgages, or Other Securities. If none, check box None Full Name Complete Mailing Address 12. Tax Status (For completion by nonprofit organizations authorized to mail at nonprofit rates) (Check one) The purpose, function, and nonprofit status of this organization and the exempt status for federal income tax purposes: Has Not Changed During Preceding 12 Months Has Changed During Preceding 12 Months (Publisher must submit explanation of change with this statement) PS Form 3526, July 2014 [Page 1 of 4 (see instructions page 4)] PSN: 7530-01-000-9931 PRIVACY NOTICE: See our privacy policy on www.usps.com. 1 0 6 3 6 5 9 5 Worcester Business Journal 09/22/2022 Bi-Monthly 24 $84.00 172 Shrewsbury St, Worcester, MA 01604 Leah Allen 508-755-8004 172 Shrewsbury St, Worcester, MA 01604 Peter Stanton, 172 Shrewsbury St, Worcester, MA 01604 Brad Kane, 172 Shrewsbury St, Worcester, MA 01604 Peter Stanton, 172 Shrewsbury St, Worcester, MA 01604 New England Business Media, LLC 172 Shrewsbury St, Worcester, MA 01604 Peter Stanton 172 Shrewsbury St, Worcester, MA 01604 Thomas Curtin 172 Shrewsbury St, Worcester, MA 01604 13. Publication Title 14. Issue Date for Circulation Data Below 15. Extent and Nature of Circulation Average No. Copies Each Issue During Preceding 12 Months No. Copies of Single Issue Published Nearest to Filing Date a. Total Number of Copies (Net press run) b. Paid Circulation (By Mail and Outside the Mail) Mailed Outside-County Paid Subscriptions Stated on PS Form 3541 (Include paid (1) distribution above nominal rate, advertiser's proof copies, and exchange copies) Mailed In-County Paid Subscriptions Stated on PS Form 3541 (Include paid (2) distribution above nominal rate, advertiser's proof copies, and exchange copies) Paid Distribution Outside the Mails Including Sales Through Dealers and Carriers, (3) Street Vendors, Counter Sales, and Other Paid Distribution Outside USPS ® Paid Distribution by Other Classes of Mail Through the USPS (4) (e.g., First-Class Mail ® ) c. Total Paid Distribution [Sum of 15b (1), (2), (3), and (4)] d. Free or Nominal Rate Distribution (By Mail and Outside the Mail) (1) Free or Nominal Rate Outside-County Copies included on PS Form 3541 (2) Free or Nominal Rate In-County Copies Included on PS Form 3541 Free or Nominal Rate Copies Mailed at Other Classes Through the USPS (3) (e.g., First-Class Mail) (4) Free or Nominal Rate Distribution Outside the Mail (Carriers or other means) e. Total Free or Nominal Rate Distribution (Sum of 15d (1), (2), (3) and (4)) f. Total Distribution (Sum of 15c and 15e) g. Copies not Distributed (See Instructions to Publishers #4 (page #3)) h. Total (Sum of 15f and g) i. Percent Paid (15c divided by 15f times 100) * If you are claiming electronic copies, go to line 16 on page 3. If you are not claiming electronic copies, skip to line 17 on page 3. PS Form 3526, July 2014 (Page 2 of 4) 7,427 7,301 Worcester Business Journal 09/19/2022 833 859 2,923 2,979 0 0 25 25 3,781 3,863 1,247 1,426 2,310 1,877 0 0 0 0 3,557 3,303 7,338 7,116 89 135 7,427 7,301 51.47% 53.75% Statement of Ownership, Management, and Circulation (All Periodicals Publications Except Requester Publications) 16. Electronic Copy Circulation Average No. Copies Each Issue During Preceding 12 Months No. Copies of Single Issue Published Nearest to Filing Date a. Paid Electronic Copies b. Total Paid Print Copies (Line 15c) + Paid Electronic Copies (Line 16a) c.  Total Print Distribution (Line 15f) + Paid Electronic Copies (Line 16a) d. Percent Paid (Both Print & Electronic Copies) (16b divided by 16c Í 100) I certify that 50% of all my distributed copies (electronic and print) are paid above a nominal price. 17. Publication of Statement of Ownership If the publication is a general publication, publication of this statement is required. Will be printed in the ________________________ issue of this publication. Publication not required. 18. Signature and Title of Editor, Publisher, Business Manager, or Owner Date I certify that all information furnished on this form is true and complete. I understand that anyone who furnishes false or misleading information on this form or who omits material or information requested on the form may be subject to criminal sanctions (including fines and imprisonment) and/or civil sanctions (including civil penalties). 09/22/2022 0 0 0 0 � � 10/03/2022 year, Chase plans to open a branch in Springfield and has its sights set on Cape Cod as well, doubling its 36 Massachusetts branches by 2025. Chase sees itself as a member of the community, just like the more- entrenched smaller banks, but these inroads aren't assumed, said Cooke. "I tell my team all the time: 'Just because you can build it doesn't mean they are going to come,'" she said. "You have to build that trust." For Chase, it has meant making connections in the community's chamber of commerce, organizations like Worcester nonprofit Abby's House, and being intentional about local commitment. Central Massachusetts has seen some bank branch consolidation, though. From 2018 to 2021, the 15 largest banks in the region, ranked by local deposits, had a net loss of 11 branches, according to a Worcester Business Journal examination of Federal Deposit Insurance Corp. data. Murphy is quick to warn of broad generalizations, noting each bank branch decision is made on highly unique and individual factors. Closures can be related to overlapping, Murphy said, like when two banks are near one another and merge, and it's determined how the institution will serve the market as a combined entity. Ahmed, of Cornerstone, which recently closed its Warren location, said reasons for closures can vary greatly. It may be related to volume of traffic, better alignment of service areas, or more efficient resource management of personnel or marketing, he said. Every branch – its location and scenario – are highly individual. "Some open, some close, it depends on their strategy," Murphy said. To illustrate this point, Murphy said last year the Massachusetts 136 banks and 2048 branches, according to the Federal Deposit Insurance Corp. Due to consolidation, there are now 132 banks and 1961 branches. "Branches do remain critically important to consumers," said Cooke. B A N K I N G & F I N A N C E F O C U S Central Mass. bank branches The 15 largest banks in Central Massachusetts, ranked by local deposits, had a net loss of 11 branches from 2018 to 2021. Source: Federal Deposit Insurance Corp. Central Mass. Central Mass. branches, branches, Bank Headquarters in 2018 in 2021 Difference Bank of America North Carolina 33 27 -6 TD Bank Toronto 25 22 -3 Middlesex Savings Bank Natick 22 26 4 Citizens Bank Providence 29 27 -2 Santander Bank Boston 37 26 -11 UniBank Whitinsville 14 14 0 Berkshire Bank Boston 14 14 0 Avidia Bank Hudson 10 10 0 M&T Bank Buffalo 6 8 2 Cornerstone Bank Worcester 13 13 0 Main Street Bank Marlborough 13 12 -1 Fidelity Bank Leominster 13 14 1 Rockland Trust Co. Rockland 7 9 2 Webster Five Auburn 7 7 0 bankHometown Oxford 8 11 3 Total 251 240 -11 W

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