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wbjournal.com | Book of Lists 2017 | Worcester Business Journal 19 B A N K I N G & F I N A N C E F O C U S 34 Northern Bank & Trust 265 Great Road, Littleton 01460 978-486-3543 • www.nbtc.com $96,758,000 $1.3 billion 3 14 12 $1,654,311,000 $15,024,000 $1,426,796,000 178 James J. Mawn Jr. president & CEO 1960 35 Millbury National Bank 18 Main St., Millbury 01527 508-865-9521 • www.mnbonline.com $77,251,000 $77.3 million 2 2 $88,497,000 $276,000 $64,285,000 19 Kathleen Marcum president 1825 36 Colonial Co-operative Bank 6 City Hall Ave., Gardner 01440 978-632-0171 • www.colonial4banking.com $65,897,000 $65.9 million 2 2 $72,747,000 $96,000 $60,402,000 25 Joseph Guercio president & CEO 1915 37 Salem Five 19 Concord Road, Sudbury 01776 978-579-0592 • www.salemfive.com $60,088,000 $2.9 billion 1 31 $4,079,769,000 $24,241,000 $2,941,133,000 552 Ping Yin Chai president & CEO 1855 38 Needham Bank 41 Front St., Ashland 01721 508-881-1088 • www.needhambank.com $59,441,000 $1.5 billion 3 10 13 $1,997,915,000 $9,816,000 $1,688,857,000 191 Joseph Campanelli CEO 1892 39 Cambridge Savings Bank 145 Great Road, Acton 01720 617-575-8514 • www.cambridgesavings.com $49,604,000 $2.5 billion 1 18 10 $3,454,853,000 $14,935,000 $2,641,044,000 344 Wayne J. Patenaude president & CEO 1834 40 Berkshire Bank 303 Turnpike Road, Westborough 01581 800-773-5601 • www.berkshirebank.com $49,030,000 $5.7 billion 1 14 95 $7,893,906,000 $49,206,000 $6,024,370,000 1,147 Michael P. Daly president & CEO 1846 41 Eastern Bank 2 South Ave., Natick 01760 508-655-4101 • easternbank.com $46,943,000 $8.5 billion 1 96 $9,965,949,000 $46,944,000 $7,541,145,000 1,764 Quincy Miller 15 president 1818 42 Family Federal Savings and Loan 130 Whalon St., Fitchburg 01420 978-353-0000 • www.familyfederal.com $37,264,000 $78.1 million 2 3 $92,958,000 $147,000 $60,563,000 19 David Brassard president & CEO 1877 43 NorthEast Community Bank 35 Edgell Road, Framingham 01701 508-879-0006 • www.necommunitybank.com $35,066,000 $478 million 1 9 $677,701,000 $3,276,000 $583,642,000 96 Kenneth Martinek chairman & CEO 1934 44 Bristol County Savings Bank 375 W. Central St., Franklin 02038 508-528-2666 • www.bristolcountysavings.com $32,218,000 $1.4 billion 1 17 $1,842,042,000 $10,653,000 $1,452,899,000 362 Patrick J. Murray Jr. president & CEO 1846 45 Lowell Five Cent Savings Bank 65 Groton St., Pepperell 01463 978-433-8500 • www.lowellfive.com $30,124,000 $879 million 1 16 $1,035,383,000 $4,470,000 $791,367,000 215 David E. Wallace president & CEO 1854 Source: Federal Deposit Insurance Corp. Notes: Local deposits represent deposits at bank locations within Central Massachusetts. Local and total deposits are as of June 30, 2016. Number of employees represents full-time equivalents. Assets, net income, net loans and leases, as well as employee data are for entire bank network as of Sept. 30, 2016. For companies based outside Central Massachusetts, the address listed is a regional headquarters or local office. Branch locations are as of January 2017. First Niagara Bank NA had $21,924,000 local deposits at a branch in Webster as of June 30, 2016. In Oct. 2016, the bank was acquired by KeyBank, and the Webster site permanently closed. 1 In May 2017, Berkshire Hills Bancorp Inc. and Commerce Bancshares Corp. announced a merger agreement under which Berkshire will acquire Commerce and its subsidiary, Commerce Bank and Trust; targeted to close by early 2018. 2 Marlborough Savings Bank and North Middlesex Savings Bank merged in April 2017, forming Main Street Bank. Data are for Marlborough Savings Bank. 3 SpencerBANK and Southbridge Savings Bank merged on June 12, 2017 forming Cornerstone Bank. Data are for SpencerBANK. 4 SpencerBANK and Southbridge Savings Bank merged on June 12, 2017 forming Cornerstone Bank. Data are for Southbridge Savings Bank. 5 Represents six branches conducting monetary transactions, one mortgage center and one loan and wealth management center 6 An additional administrative office located in Southbridge 7 Five Conn. branches were acquired on Nov. 21, 2016 through a merger of the holding companies of Easthampton Savings Bank (ESB) and Hometown Bank on April 1, 2016. Deposits from these branches are not included in this figure; summary deposit report predates the acquisition. 8 Marlborough Savings Bank and North Middlesex Savings Bank merged in April 2017 forming Main Street Bank. Data are for North Middlesex Savings Bank. 9 Includes a branch located at Auburn High School, which is closed to the public. 10 Includes one full-service cyber office with contributing deposits 11 Includes a branch located at Medway High School 12 The branch at 89 Elm St., Woburn was closed in April 2017. 13 Includes one full-service cyber office with contributing deposits. 14 Another branch located at 45 Lyman St., Westborough, which contributed deposits, has been closed. 15 Miller succeeded Robert Rivers who became chairman and CEO on Jan. 1, 2017. Former chairman and CEO Richard Holbrook retired at the end of 2016. - Compiled by: Heide Martin, hmartin@nebsuinessmedia.com Source: Federal Deposit Insurance Corp. Notes: Local deposits represent deposits at bank locations within Central Massachusetts. Local and total deposits are as of June 30, 2016. Number of employees represents full-time equivalents. Assets, net income, net loans and leases, as well as employee data are for entire bank network as of Sept. 30, 2016. For companies based outside Central Massachusetts, the address listed is a regional headquarters or local office. Branch locations are as of January 2017. First Niagara Bank NA had $21,924,000 local deposits at a branch in Webster as of June 30, 2016. In Oct. 2016, the bank was acquired by KeyBank, and the Webster site permanently closed. 1 In May 2017, Berkshire Hills Bancorp Inc. and Commerce Bancshares Corp. announced a merger agreement under which Berkshire will acquire Commerce and its subsidiary, Commerce Bank and Trust; targeted to close by early 2018. 2 Marlborough Savings Bank and North Middlesex Savings Bank merged in April 2017, forming Main Street Bank. Data are for Marlborough Savings Bank. 3 SpencerBANK and Southbridge Savings Bank merged on June 12, 2017 forming Cornerstone Bank. Data are for SpencerBANK. 4 SpencerBANK and Southbridge Savings Bank merged on June 12, 2017 forming Cornerstone Bank. Data are for Southbridge Savings Bank. 5 Represents six branches conducting monetary transactions, one mortgage center and one loan and wealth management center 6 An additional administrative office located in Southbridge 7 Five Conn. branches were acquired on Nov. 21, 2016 through a merger of the holding companies of Easthampton Savings Bank (ESB) and Hometown Bank on April 1, 2016. Deposits from these branches are not included in this figure; summary deposit report predates the acquisition. 8 Marlborough Savings Bank and North Middlesex Savings Bank merged in April 2017 forming Main Street Bank. Data are for North Middlesex Savings Bank. 9 Includes a branch located at Auburn High School, which is closed to the public. 10 Includes one full-service cyber office with contributing deposits 11 Includes a branch located at Medway High School 12 The branch at 89 Elm St., Woburn was closed in April 2017. 13 Includes one full-service cyber office with contributing deposits. 14 Another branch located at 45 Lyman St., Westborough, which contributed deposits, has been closed. 15 Miller succeeded Robert Rivers who became chairman and CEO on Jan. 1, 2017. Former chairman and CEO Richard Holbrook retired at the end of 2016. - Compiled by: Heide Martin, hmartin@nebsuinessmedia.com Top banks Ranked by local deposits as of June 30, 2016 Bank Local deposits/ total deposits Local branches/ U.S. branches Assets/ net income (loss)/ net loans and leases No. of employees Top local executive Year founded 1 Bank of America 365 Main St., Worcester 01608 508-751-8060 • bankofamerica.com $4,736,502,000 $1.2 trillion 40 4,753 $1,659,793,000,000 $14,747,000,000 $884,222,000,000 146,255 Edwin Thomas Shea market president, Central Mass. 1904 2 Middlesex Savings Bank 6 Main St., Natick 01760 508-653-0300 • www.middlesexbank.com $2,732,789,000 $3.8 billion 24 31 $4,439,693,000 $22,661,000 $2,814,381,000 503 Michael G. McAuliffe president & CEO 1835 3 TD Bank 370 Main St., Worcester 01608 508-368-6529 • www.tdbank.com $2,480,697,000 $214 billion 27 1,287 $264,527,851,000 $992,044,000 $132,682,160,000 25,177 Mark Crandall regional president, Conn., Mass. & R.I. 1852 4 Santander Bank 446 Main St., Worcester 01608 508-890-6810 • www.santanderbank.com $2,077,121,000 $58 billion 40 674 $85,473,923,000 $166,578,000 $52,318,011,000 8,818 Scott Powell president & CEO 1907 5 Citizens Bank 34 Main St., Natick 01760 508-653-5100 • www.citizensbank.com $1,892,964,000 $77 billion 31 851 $114,604,518,000 $635,912,000 $84,746,678,000 14,632 Bruce Van Saun chairman & CEO 2005 6 Commerce Bank & Trust Co. 1 386 Main St., Worcester 01608 508-797-6842 • www.bankatcommerce.com $1,750,100,000 $1.9 billion 14 17 $1,911,894,000 $9,481,000 $1,383,434,000 231 Brian W. Thompson president & CEO 1955 7 UniBank for Savings 24 Gold Star Blvd., Worcester 01605 508-756-0807 • www.unibank.com $1,567,903,000 $1.6 billion 13 13 $1,597,636,000 $7,457,000 $1,088,721,000 257 Sam Pepper president & CEO 1870 8 Avidia Bank 42 Main St., Hudson 01749 978-562-2222 • www.avidiabank.com $921,808,000 $922 million 8 8 $1,342,643,000 $6,413,000 $1,053,273,000 208 Mark R. O'Connell president & CEO 1869 9 Fidelity Bank 9 Leominster Connector, Leominster 01453 978-870-1306 • www.fidelitybankonline.com $666,869,000 $667 million 10 10 $777,779,000 $2,546,000 $604,732,000 144 Edward F. Manzi Jr. chairman & CEO 1888 10 People's United Bank 120 Front St., Worcester 01608 508-890-5199 • www.peoples.com $579,940,000 $29.1 billion 7 391 $40,278,972,000 $215,256,000 $29,228,338,000 4,984 Patrick J. Sullivan president, Mass. 1988 11 MutualOne Bank 828 Concord St., Framingham 01701 508-820-4000 • www.mutualone.com $538,537,000 $539 million 3 3 $696,888,000 $4,962,000 $554,448,000 82 Mark Haranas president & CEO 1889 12 Webster Five Cents Savings Bank 136 Thompson Road, Webster 01570 508-943-9401 • www.web5.com $518,827,000 $519 million 7 7 $745,858,000 $3,494,000 $575,776,000 145 Donald F. Doyle president & CEO 1868 13 Marlborough Savings Bank now Main Street Bank 2 81 Granger Blvd., Marlborough 01752 508-481-8300 • www.bankmainstreet.com $440,604,000 $441 million 7 7 $521,180,000 $1,706,000 $347,564,000 92 Rick Bennett CEO 1860 14 SpencerBANK now Cornerstone Bank 3 176 Main St., Spencer 01562 508-885-5313 • www.spencerbankonline.com $427,713,000 $428 million 6 6 $564,197,000 $2,191,000 $487,062,000 84 K. Michael Robbins president & CEO 1871 15 Southbridge Savings Bank now Cornerstone Bank 4 253-257 Main St., Southbridge 01550 508-765-9103 • www.southbridgesavingsbank.com $403,657,000 $404 million 9 9 $543,824,000 $1,436,000 $469,308,000 110 Todd R. Tallman president & CEO 1848 16 Clinton Savings Bank 200 Church St., Clinton 01510 978-365-3700 • www.clintonsavings.com $399,706,000 $400 million 6 6 $522,094,000 $2,288,000 $392,090,000 96 Robert J. Paulhus Jr. president & CEO 1851 17 Rollstone Bank & Trust 780 Main St., Fitchburg 01420 978-345-1061 • www.rollstonebank.com $373,254,000 $373 million 8 5 8 5 $585,566,000 $3,046,000 $434,313,000 90 Martin F. Connors Jr. president & CEO 1846 18 Savers Bank 270 Main St., Southbridge 01550 508-764-4329 • www.saversbank.com $368,928,000 $369 million 6 6 6 6 $492,032,000 $2,030,000 $390,073,000 92 Joseph A. Coderre president & CEO 1910 19 bankHometown 31 Sutton Ave., Oxford 01540 508-987-1200 • www.hometowncoop.com $361,446,000 $361 million 7 8 13 $457,435,000 $1,545,000 $371,836,000 83 Michael D. Hewitt president & CEO 1889 20 Rockland Trust Co. 58 Main St., Franklin 02038 508-520-3958 • www.rocklandtrust.com $344,296,000 $6.2 billion 4 84 $7,499,637,000 $60,652,000 $5,701,262,000 1,088 Christopher Oddleifson president & CEO 1907 21 North Middlesex Savings Bank now Main Street Bank 8 7 Main St., Ayer 01432 978-732-1080 • www.bankmainstreet.com $340,103,000 $340 million 7 7 $427,396,000 $1,870,000 $320,158,000 83 Rick Bennett CEO 1885 n Granite Savings Bank merged with and into Cape Ann Savings Bank. n Chelsea Bank merged with and into East Cambridge Savings Bank. n Peoples Federal Savings Bank merged with and into Rockland Trust Company n Northampton Co-operative Bank merged with and into Greenfield Co-operative Bank. n Hampden Bank merged with and into Berkshire Bank. n Citizens National Bank of Connecticut merged with and into Easthampton Savings Bank. n Lenox National Bank merged with and into Adams Community Bank. n Merrimac Savings Bank merged with and into North Shore Bank. n NUVO Bank & Trust Company merged with and into Merchants Bank of Vermont. n Scituate Federal Savings Bank merged with and into Coastal Heritage Bank. Source: Office of Consumer Affairs & Business Regulation (latest year available) 2015 bank mergers in Mass.