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16 Worcester Business Journal | Book of Lists 2017 | wbjournal.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. $7,499,637,000 F O C U S B A N K I N G & F I N A N C E Bank mergers have been a regular occurrence for years. The number of bank branches nationally fell to 5,340 in 2015 - nearly half of the number 20 years before and by 63 percent since a peak of 14,469 in 1983, according to the FDIC. For Central Massachusetts, 2017 is already lining up for at least three mergers. Marlborough Savings Bank and North Middlesex Savings Bank officially merged in April to become Main Street Bank. Southbridge Savings Bank, which was founded in 1848 and SpencerBANK, which got its start in 1871, merged effective June 12 to become Cornerstone Bank. The largest of all, Berkshire Bank announced in May it plans to buy Worcester-based Commerce Bank. Key numbers for that deal: • Berkshire Bank: $9.3 billion in assets and 97 branches • Commerce Bank: $2.2 billion in assets and 16 branches. • Transaction value: $209 million Source: Berkshire Bank Bank mergers Berkshire Bank announced in May it plans to buy Worcester- based Commerce Bank.