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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: Hampden
After North Easton Savings Bank acquired Mutual Bank last year, it joined the state’s growing list of $1 billion banks. It also got a new leader, as Mutual Bank’s president and CEO, Rich Spencer, became head of the combined organization.
IN PERSON
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WEEK OF MONDAY, AUGUST 10, 2020
BANKING & LENDING BY THE NUMBERS
113,000 Massachusetts lenders processed around 113,000 PPP loans through June 30. See Diane McLaughlin’s story on this page. Source: Small Business Administration
12,847 The most prolific processer of PPP loans in Massachusetts made this many through June 30. See Diane McLaughlin’s story on this page. Source: Small Business Administration
$2.8 billion Following its latest acquisition, Bristol County Savings Bank has $2.8 billion in assets. See Week on the Web on page 2. Source: FDIC
$14.3 billion Massachusetts lenders processed PPP loans worth $14.3 billion through June 30. See Diane McLaughlin’s story on this page. Source: Small Business Administration
TOP PPP LENDERS
FINANCIAL FIRST RESPONDERS MASSACHUSETTS’ TOP PPP LENDERS, RANKED
745 Digital Federal Credit Union processed 745 PPP loans through June 30. See Diane McLaughlin’s story on this page. Source: Small Business Administration
14,000 PPP loans processed by South Shore Bank through June 30 saved 14,000 jobs. See Diane McLaughlin’s story on this page. Source: Small Business Administration
2,300 Cape Cod Five processed around 2,300 PPP loans through June 30. See Diane McLaughlin’s story on this page. Source: Small Business Administration
BANKS BY DIANE MCLAUGHLIN BANKER & TRADESMAN STAFF
F
rom system problems to unclear and changing guidelines, community banks faced multiple challenges throughout the early days and weeks of the Paycheck Protection Program, all while themselves adjusting to the effects of the pandemic and economic shutdown. A key to confronting the challenges was understanding the issue at hand, said Bert Talerman, co-president of Cape Cod Five, one of the top PPP lenders in Massachusetts. “It was a unique situation, unique levels of volume,” Talerman said. “And being able to take that unique approach to it and not view it in terms of a traditional commercial lending lens is really one key to us being able to have achieved here the level of support for customers.” Continued on Page 9
6.49 percent Quicken Loans holds 6.49 percent of the single-family mortgage market in Hampden County. See By the Numbers on page 6. 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.
NUMBER RANK LENDER OF LOANS 1 CITIZENS BANK 12,847 2 BANK OF AMERICA 12,592 3 EASTERN BANK 7,682 4 TD BANK 5,772 5 ROCKLAND TRUST CO. 5,618 • Through June 30, 2020 • Source: Small Business Administration
CREDIT UNIONS NUMBER RANK LENDER OF LOANS 1 DIGITAL FEDERAL CREDIT UNION 745 2 GREYLOCK FEDERAL CREDIT UNION 414 3 ROCKLAND FEDERAL CREDIT UNION 358 4 ST. MARY’S CREDIT UNION 286 5 WEBSTER FIRST FEDERAL CREDIT UNION 205 • Through June 30, 2020 • Source: Small Business Administration
COMMERCIAL INTERESTS
CHANGING CHANNEL
Sometimes, Opposition to Housing Is All About Excluding Non-Whites
State Ruling Could Benefit Future Developers
By Scott Van Voorhis | Banker & Tradesman Columnist
By Steve Adams | Banker & Tradesman Staff
Trump Admits Dark Truth Gillette Seeks Flexibility Behind NIMBYism to Redevelop Campus
Commercial Real Estate PAGE 3
Commercial Real Estate PAGE 7