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wbjournal.com | Book of Lists 2018 | Worcester Business Journal 21 * APR= Annual percentage rate. Currently at 3.49%, introductory rate (fixed) for the first 12 months. Followed by adjustable rate WSJ Prime - 0.25% thereafter, currently at 4.50%. Minimum line amount is $10,000, maximum line is $1,500,000. $10,000 required draw at closing. Equity Lines of Credit have a floor rate of 4.50%, maximum rate of 18%. HELOC's are variable rates subject to increase after consummation, adjusting monthly to the Wall Street Journal (WSJ) Prime Rate - 0.25%. Maximum LTV is 80%. An early termination fee of $500 applies when a home equity line of credit closes within 3 years or property is sold within 1st year of account opening. ** Comparison based on Equity Line of Credit introductory rate of 3.49% and national average credit card rate of 16.15%, credit card balance of $5,000, and payoff period of 12 months. Source: CreditCards.com; Updated: 5/10/2018 A Smart solution for your next big project! 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Equal Housing Lender | Member FDIC | Member DIF apr* 12 month intro apr* thereafter (variable) 3.49% 4.50% Intro Special Home Equity Line of Credit B A N K I N G & F I N A N C E F O C U S 34 Millbury National Bank 18 Main St., Millbury 01527 508-865-9521 • www.mnbonline.com $79,065,000 $79.1 million 2 2 $89,928,000 $116,000 $63,631,000 19 Kathleen Marcum president 1825 35 Needham Bank 41 Front St., Ashland 01721 508-881-1088 • www.needhambank.com $77,689,000 $1.5 billion 3 10 (l) $2,028,271,000 $7,541,000 $1,724,737,000 180 Joseph Campanelli president & CEO 1892 36 Salem Five 19 Concord Road, Sudbury 01776 978-579-0592 • www.salemfive.com $63,789,000 $3.3 billion 1 32 (l) $4,682,195,000 $25,328,000 $3,495,474,000 618 Ping Yin Chai president & CEO 1855 37 Colonial Co-operative Bank (o) 6 City Hall Ave., Gardner 01440 978-632-0171 • www.colonial4banking.com $62,998,000 $63.0 million 2 2 $66,163,000 $30,000 $56,740,000 24 Joseph Guercio president & CEO 1915 38 Cambridge Savings Bank 145 Great Road, Acton 01720 888-418-5626 • www.cambridgesavings.com $53,226,000 $2.7 billion 1 17 (l) $3,585,861,000 $19,581,000 $2,763,414,000 351 Wayne J. Patenaude president & CEO 1834 39 Family Federal Savings and Loan 130 Whalon St., Fitchburg 01420 978-353-0000 • www.familyfederal.com $40,090,000 $82.8 million 2 3 $99,109,000 $99,000 $67,101,000 19 David Brassard president & CEO 1877 40 Bristol County Savings Bank 375 W. Central St., Franklin 02038 508-528-2666 • www.bristolcountysavings.com $33,890,000 $1.6 billion 1 17 (p) $2,028,004,000 $12,604,000 $1,616,574,000 386 Patrick J. Murray Jr. president & CEO 1846 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, 2017. 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, 2017. For companies based outside Central Massachusetts, the address listed is a regional headquarters or local office. Branch locations are as of January 2018. (a) Effective Oct. 2017, Commerce Bancshares Corp. was acquired by Berkshire Hills Bancorp Inc., merging Commerce Bank and Trust Co. into Berkshire Bank. Acquired locations remain operational under the Commerce Bank name. A full systems integration was targeted for March 2018. Data for this list provided by the FDIC under Commerce Bank & Trust Co. (b) Brian W. Thompson, former CEO of Commerce Bank & Trust Co., served as an advisor to Berkshire Bank until Jan. 19. (c) Formed on June 12, 2017 when SpencerBANK and Southbridge Savings Bank merged. (d) Previously president and CEO of SpencerBANK (e) Formed in April 2017 when Marlborough Savings Bank and North Middlesex Savings Bank merged. (f) Previously CEO of Marlborough Savings Bank (g) Merged with Colonial Co-operative Bank on April 1, 2018; a system conversion of Colonial Co-operative Bank will occur summer 2018. (h) Plans to retire June 30, 2018, to be succeeded by Matthew Sosik, president and CEO of the bank's mutual holding company Hometown Financial Group, MHC (i) An additional mortgage center in Fitchburg and a loan and wealth management center in Worcester (no monetary transactions are handled at these two locations) (j) With an additional administrative office located in Southbridge (k) Includes a branch at Auburn High School which is closed to the public (l) Includes one full-service cyber office with contributing deposits (m) Includes a branch located at Medway High School (n) 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. (o) Merged with Fidelity Bank on April 1, 2018; a system conversion of Colonial Co-operative Bank will occur summer 2018. (p) Includes two high school branches which are closed to the public - Compiled by: Heide Martin, hmartin@nebsuinessmedia.com Top banks Ranked by local deposits as of June 30, 2017 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 $5,191,473,000 $1.3 trillion 39 4,821 $1,725,215,000,000 $16,366,000,000 $906,946,000,000 142,680 Edwin Thomas Shea Jr. market president, Central Mass. 1904 2 Middlesex Savings Bank 6 Main St., Natick 01760 508-653-0300 • www.middlesexbank.com $2,865,446,000 $4.0 billion 23 30 $4,620,429,000 $27,136,000 $2,951,068,000 512 Michael G. McAuliffe president & CEO 1835 3 TD Bank 370 Main St., Worcester 01608 508-368-6529 • www.tdbank.com $2,700,879,000 $227 billion 27 1,259 $285,494,922,000 $1,377,449,000 $141,264,574,000 25,188 Mark Crandall regional president, Conn., Mass. & R.I. 1852 4 Santander Bank 446 Main St., Worcester 01608 508-890-6810 • www.santanderbank.com $2,190,023,000 $58 billion 40 652 $78,058,193,000 $278,082,000 $48,137,563,000 9,429 Scott Powell CEO, Santander U.S. 1907 5 Citizens Bank 34 Main St., Natick 01760 508-653-5100 • www.citizensbank.com $2,089,240,000 $88 billion 29 828 $120,724,694,000 $820,349,000 $91,065,842,000 14,792 Bruce Van Saun chairman & CEO 2005 6 Commerce Bank & Trust Co. (a) 386 Main St., Worcester 01608 508-797-6842 • www.berkshirebank.com $1,521,721,000 $1.7 billion 13 16 $1,828,592,000 $14,371,000 $1,380,384,000 226 Michael P. Daly (b) CEO, Berkshire Bank 1955 7 UniBank for Savings 49 Church St., Whitinsville 01588 508-234-8112 • www.unibank.com $1,504,578,000 $1.5 billion 13 13 $1,595,397,000 $7,007,000 $1,172,932,000 268 Sam Pepper president & CEO 1870 8 Avidia Bank 42 Main St., Hudson 01749 978-562-2222 • www.avidiabank.com $1,034,766,000 $1.0 billion 10 10 $1,509,067,000 $9,076,000 $1,181,490,000 226 Mark R. O'Connell president & CEO 1869 9 Cornerstone Bank (c) 176 Main St., Spencer 01562 508-885-5313 • www.cornerstonebank.com $882,615,000 $883 million 15 15 $1,116,445,000 $3,043,000 $971,899,000 187 K. Michael Robbins (d) chairman & CEO 1871 10 Main Street Bank (e) 81 Granger Blvd., Marlborough 01752 508-481-8300 • www.bankmainstreet.com $815,655,000 $816 million 14 14 $989,207,000 $1,733,000 $726,114,000 164 Richard Bennett (f) CEO 1860 11 Fidelity Bank (g) 675 Main St., Fitchburg 01420 978-345-4331 • www.fidelitybankonline.com $694,684,000 $695 million 10 10 $809,421,000 $3,079,000 $642,460,000 143 Edward F. Manzi Jr. chairman & CEO 1888 12 MutualOne Bank 828 Concord St., Framingham 01701 508-820-4000 • www.mutualone.com $600,630,000 $601 million 3 3 $782,357,000 $9,155,000 $650,041,000 86 Mark Haranas president & CEO 1889 13 People's United Bank 120 Front St., Worcester 01608 508-890-5199 • www.peoples.com $587,768,000 $32.1 billion 7 406 $43,654,972,000 $236,554,000 $32,187,458,000 5,175 Patrick J. Sullivan president, Mass. 1988 14 Webster Five Cents Savings Bank 136 Thompson Road, Webster 01570 800-696-9401 • www.web5.com $569,117,000 $569 million 7 7 $798,063,000 $4,535,000 $617,812,000 142 Donald F. Doyle president & CEO 1868 15 Clinton Savings Bank 200 Church St., Clinton 01510 978-365-3700 • www.clintonsavings.com $417,455,000 $417 million 6 6 $536,863,000 $3,722,000 $407,825,000 98 Robert J. Paulhus Jr. president & CEO 1851 16 bankHometown 31 Sutton Ave., Oxford 01540 508-987-1200 • www.hometowncoop.com $406,418,000 $614 million 8 13 $730,403,000 $3,258,000 $490,037,000 114 Michael D. Hewitt (h) president & CEO 1889 17 Rollstone Bank & Trust 780 Main St., Fitchburg 01420 978-345-1061 • www.rollstonebank.com $402,427,000 $402 million 6 (i) 6 (i) $641,830,000 $3,200,000 $479,238,000 96 Martin F. Connors Jr. president & CEO 1846 18 Savers Bank 270 Main St., Southbridge 01550 508-764-4329 • www.saversbank.com $376,959,000 $377 million 6 (j) 6 (j) $530,936,000 $2,243,000 $435,206,000 94 Joseph A. Coderre president & CEO 1910 19 Rockland Trust Co. 58 Main St., Franklin 02038 508-520-3958 • www.rocklandtrust.com $366,293,000 $6.7 billion 4 87 $8,051,997,000 $66,923,000 $6,235,651,000 1,117 Christopher Oddleifson CEO 1907 20 Athol Savings Bank 444 Main St., Athol 01331 978-249-3200 • www.atholsb.com $330,500,000 $331 million 8 8 $406,149,000 $1,655,000 $276,901,000 90 Daniel Zona president & CEO 1867 21 Bay State Savings Bank 28 Franklin St., Worcester 01608 508-890-9000 • www.baystatesavings.com $300,301,000 $300 million 8 (k) 8 (k) $394,256,000 $2,748,000 $336,379,000 68 Peter B. Alden president & CEO 1895 22 Milford Federal Savings and Loan 246 Main St., Milford 01757 $285,709,000 $322 million 3 4 $383,629,000 $918,000 77 Cynthia A. Casey president & CEO 1937 508-655-4101 • easternbank.com $8.8 billion 93 $8,081,502,000 president 34 Millbury National Bank 18 Main St., Millbury 01527 508-865-9521 • www.mnbonline.com $79,065,000 $79.1 million 2 2 $89,928,000 $116,000 $63,631,000 19 Kathleen Marcum president 1825 35 Needham Bank 41 Front St., Ashland 01721 508-881-1088 • www.needhambank.com $77,689,000 $1.5 billion 3 10 (l) $2,028,271,000 $7,541,000 $1,724,737,000 180 Joseph Campanelli president & CEO 1892 36 Salem Five 19 Concord Road, Sudbury 01776 978-579-0592 • www.salemfive.com $63,789,000 $3.3 billion 1 32 (l) $4,682,195,000 $25,328,000 $3,495,474,000 618 Ping Yin Chai president & CEO 1855 37 Colonial Co-operative Bank (o) 6 City Hall Ave., Gardner 01440 978-632-0171 • www.colonial4banking.com $62,998,000 $63.0 million 2 2 $66,163,000 $30,000 $56,740,000 24 Joseph Guercio president & CEO 1915 38 Cambridge Savings Bank 145 Great Road, Acton 01720 888-418-5626 • www.cambridgesavings.com $53,226,000 $2.7 billion 1 17 (l) $3,585,861,000 $19,581,000 $2,763,414,000 351 Wayne J. Patenaude president & CEO 1834 39 Family Federal Savings and Loan 130 Whalon St., Fitchburg 01420 978-353-0000 • www.familyfederal.com $40,090,000 $82.8 million 2 3 $99,109,000 $99,000 $67,101,000 19 David Brassard president & CEO 1877 40 Bristol County Savings Bank 375 W. Central St., Franklin 02038 508-528-2666 • www.bristolcountysavings.com $33,890,000 $1.6 billion 1 17 (p) $2,028,004,000 $12,604,000 $1,616,574,000 386 Patrick J. Murray Jr. president & CEO 1846 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, 2017. 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, 2017. For companies based outside Central Massachusetts, the address listed is a regional headquarters or local office. Branch locations are as of January 2018. (a) Effective Oct. 2017, Commerce Bancshares Corp. was acquired by Berkshire Hills Bancorp Inc., merging Commerce Bank and Trust Co. into Berkshire Bank. Acquired locations remain operational under the Commerce Bank name. A full systems integration was targeted for March 2018. Data for this list provided by the FDIC under Commerce Bank & Trust Co. (b) Brian W. Thompson, former CEO of Commerce Bank & Trust Co., served as an advisor to Berkshire Bank until Jan. 19. (c) Formed on June 12, 2017 when SpencerBANK and Southbridge Savings Bank merged. (d) Previously president and CEO of SpencerBANK (e) Formed in April 2017 when Marlborough Savings Bank and North Middlesex Savings Bank merged. (f) Previously CEO of Marlborough Savings Bank (g) Merged with Colonial Co-operative Bank on April 1, 2018; a system conversion of Colonial Co-operative Bank will occur summer 2018. (h) Plans to retire June 30, 2018, to be succeeded by Matthew Sosik, president and CEO of the bank's mutual holding company Hometown Financial Group, MHC (i) An additional mortgage center in Fitchburg and a loan and wealth management center in Worcester (no monetary transactions are handled at these two locations) (j) With an additional administrative office located in Southbridge (k) Includes a branch at Auburn High School which is closed to the public (l) Includes one full-service cyber office with contributing deposits (m) Includes a branch located at Medway High School (n) 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. (o) Merged with Fidelity Bank on April 1, 2018; a system conversion of Colonial Co-operative Bank will occur summer 2018. (p) Includes two high school branches which are closed to the public - Compiled by: Heide Martin, hmartin@nebsuinessmedia.com n Boston-Cambridge-Newton market 131 institutions, $302.7 billion n Worcester 39 institutions, $17.8 billion n Providence (includes Fall River and New Bedford) 30 institutions, $40.6 billion n Springfield 20 institutions, $15 billion n Barnstable 10 institutions, $7.7 billion Source: Federal Deposit Insurance Corporation Mass. banking markets Number of banking institutions in regions of Massachusetts, and the total amount of deposits: