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PeoplesBank Named Second Fastest-Growing Bank in Massachusetts
Boston Business Journal published its list of the fastest-growing banks in Massachusetts and, given its acquisition of the First National Bank of Suffield, it was not a surprise that PeoplesBank was on the list. What was a surprise, according to Brian Canina, CFO of PeoplesBank, was that the bank was number two on the list.
“About 50% of our growth came from the merger,” explained Mr. Canina. “But the untold story is that the rest of that growth was organic. We attribute our organic growth to our mutual charter. We do not have to divert earnings to shareholders so we can reinvest in our organization and the communities we serve. That means improved technology, better products and services – including rates and terms – as well as a level of investment in the community that is unmatched by our competitors.”
The complete Boston Business Journal list can be found at: http://bit.ly/bostonbizj
About: PeoplesBank is a leader in innovation, corporate responsibility, environmental sustainability, and employee engagement. Our three LEED® certified offices are environmentally friendly, and we have financed more than $182 million in wind, hydroelectric, and solar energy projects.
As the largest community bank in the market, we have a unique ability to help the communities we serve through volunteer efforts and millions of dollars in donations to charitable and civic causes. Our associates devote an average of 10,000 hours to volunteer work each year, and 48 of the bank’s officers serve on the boards of directors and committees of 115 nonprofit organizations in the area.
We currently have 20 banking centers located in Massachusetts and four banking centers in Connecticut operating as First Suffield Bank, a division of PeoplesBank.
GCAi for PeoplesBank
Darcy Fortune, 413-736-2245