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THE FINANCIAL SERVICES AND REAL ESTATE WEEKLY FOR MASSACHUSETTS BY THE NUMBERS
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County close-up: Hampden Spotlight: Holland
OPINION
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When COVID-19 descended on Massachusetts in March, many towns were forced switch from in-person public meetings about developments to ones via Zoom. Land-use lawyer Barry Crimmins lays out the potential road ahead.
WEEK OF MONDAY, NOVEMBER 9, 2020
BANKING & LENDING BY THE NUMBERS
DEMAND DRIVERS
2021 PeoplesBank hopes to launch a national internet bank in 2021. See Diane McLaughlin’s story on page 9. Source: PeoplesBank
50 percent East Boston Savings Bank has seen a 50 percent drop in loan modifications. See Week on the Web on page 2. Source: East Boston Savings Bank
$250,000 Deposit insurance above the FDIC’s $250,000 limit has helped PeoplesBank win customers in Alaska. See Diane McLaughlin’s story on page 9. Source: PeoplesBank
2 Polish National Credit Union employs two of the top loan originators in Hampden County. See By the Numbers on page 6. Source: The Warren Group’s Loan Originator Module
$104 million Enterprise Bank has short-term deferrals active on only $104 million in loans. See Week on the Web on page 2. Source: Enterprise Bank
4.71 percent The share of the Hampden County mortgage market held by Polish National Credit Union. See By the Numbers on page 6. Source: The Warren Group’s Marketshare Module
77 percent The share of loans held by Brookline Bancorp that have returned to payment status. See Week on the Web on page 2. Source: Brookline Bancorp
$3 million The mortgage used to buy the third home in this week’s Gossip Report. See page 9. Source: The Warren Group
Unless otherwise noted, all data is sourced from The Warren Group’s Mortgage Market Share Module, Loan Originator Module, Statistics Module and/or proprietary database. For more information please visit www.thewarrengroup.com/business/ datasolutions.
SOMERVILLE’S NEXT DEVELOPMENT CLUSTER? Inner Belt Joins Lab Growth Corridor
BY STEVE ADAMS
BANKER & TRADESMAN STAFF
S
omerville’s Inner Belt district checks many of the boxes that are in demand among commercial developers. Federal opportunity zone? Check. Zoning for lab-ready floor plates? Check. Close to growing life science clusters? Check. Transitfriendly? The MBTA Green Line Extension project is supposed to wrap up in late 2021. The 100-acre industrial neighborhood is becoming a new frontier for life science expansion in Greater Boston, building off the recent industry growth in Union Square and Cambridge Crossing. Continued on Page 7
COMMERCIAL INTERESTS
FA R F R O M H O M E
CRE Won’t Recover Until COVID-19 Is Crushed
PeoplesBank Seeks Customers from Anchorage to Holyoke
It’s Not the Economy, Stupid − It’s the Virus By Scott Van Voorhis | Banker & Tradesman Columnist
Commercial Real Estate PAGE 3
Internet Banks Give Local Lenders National Stage By Diane McLaughlin | Banker & Tradesman Staff
Banking & Lending PAGE 7