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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: Granville
IN PERSON
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When Anne Tangen looked at the photographs in a historic timeline at BankFive’s Fall River office, she saw that the 15 presidents over the past 165 years had all been men. Tangen became the first woman president of the institution once known as the Fall River Five Cents Savings Bank on April 6.
WEEK OF MONDAY, MAY 11, 2020
BANKING & LENDING BY THE NUMBERS
STRANGE BEDFELLOWS
500 percent Needham Bank has seen a 500 percent increase in customers using remote image capture. See Diane McLaughlin’s story on page 9. Source: Joe Campanelli
4,000 square feet The size of Middlesex Savings Bank’s planned Maynard Crossing branch. See Week on the Web on page 2. Source: Capitol Group Properties
42 percent Bank customers are using mobile apps 42 percent more than before the pandemic. See Diane McLaughlin’s story on page 9. Source: Boston Consulting Group
4,000
Boston Properties, Alexandria Team Up with Utility
Berkshire Bank is processing forbearances for 4,000 loans. See Week on the Web on page 2. Source: Berkshire Bank
$8 million
BY STEVE ADAMS
Eastern Bank is donating $8 million to various COVID-19 relief efforts. See Week on the Web on page 2. Source: Eastern Bank
BANKER & TRADESMAN STAFF
T
wo developers that compete for global icons such as Facebook and Google as tenants in Cambridge’s Kendall Square find themselves on the same side of the table for a change, with one poised to gain approval for an additional 800,000 square feet of office-lab space in the tech mecca. As Eversource seeks a site for a new substation to upgrade Cambridge’s electric grid, Boston Properties and Alexandria Real Estate Equities are offering a complex solution that reflects the lengths that developers will go to find new infill development avenues in East Cambridge.
16 percent Sixteen percent of bank customers plan to visit branches less after the pandemic ends. See Diane McLaughlin’s story on page 9. Source: Boston Consulting Group
55 percent Berkshire Bank increased its provision for credit losses by 55 percent. See Week on the Web on page 2. Source: Berkshire Bank
3.88 percent The third-most prolific single-family lender in Hampden County commands 3.88 percent of the market. See By the Numbers on page 6. Source: The Warren Group’s Marketshare Module
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.
RIVALS LOOK TO UNLOCK KENDALL INFILL
Continued on Page 7
COMMERCIAL INTERESTS
BACK TO WORK
Boston’s Largest Developers Are Best Positioned to Weather This Storm
Social Distancing, Rise in Technology Use Force Changes
By Scott Van Voorhis | Banker & Tradesman Columnist
By Diane McLaughlin | Banker & Tradesman Staff
It’s Survival of the Biggest Lenders Write New Branch Following the Pandemic Playbooks as Reopening Looms
Commercial Real Estate PAGE 3
Banking & Lending PAGE 9