WESTFIELD BANK CONTINUES CONNECTICUT EXPANSION WITH A NEW FINANCIAL SERVICES CENTER IN WEST HARTFORD CENTER
Westfield, MA — Westfield Bank President and CEO James C. Hagan is pleased to announce that the Bank’s new Financial Services Center at 977 Farmington Avenue in West Hartford Center has officially opened. The fully renovated, 4,750 square foot office is located in the space formerly occupied by Cookshop Plus and represents the twenty-fifth brick and mortar facility in the Bank’s retail banking portfolio.
The new Financial Services Center will serve as the hub for the Bank’s Connecticut offices located in Bloomfield, Enfield, Granby, and West Hartford. In addition to a full-service branch office, the new location will be staffed by members of Westfield Bank’s Residential Lending, Commercial Lending, and Business & Government Deposit Services departments along with a representative of Westfield Investment Services. The office will also feature an image technology ATM at the Farmington Avenue entrance and a cash dispensing ATM at the municipal parking lot entrance.
“Opening the new Financial Services Center in West Hartford along with the recent opening of our Bloomfield office at 337 Cottage Grove Road further strengthens our commitment to the people and businesses of Connecticut and the Capital Region,” said Mr. Hagan. “Our suite of retail and commercial bank products and services, community bank values, and customer-first approach is a great fit for local families, businesses, and organizations. We’re very committed to serving this market and look forward to establishing new and longstanding banking relationships.”
Westfield Bank has assembled an experienced team of bankers to staff the new hub office. Vice President and CT Area Manager Matthew Cuddy will manage the new West Hartford branch office. He is joined by Senior Vice President and Commercial Lender Todd Navin; Vice President and Commercial Lender John Pember, Vice President and Business & Government Deposit Services Officer Cathy Turowsky; and Assistant Vice President and Mortgage Loan Officer Daniel Danillowicz. The Bank’s new Connecticut Team has decades of retail and commercial banking experience in the Capital Region and is very familiar with the economic landscape and subtleties of the market.
“We’re so pleased with the reception we’ve received from business leaders and community members in Bloomfield and West Hartford,” said Mr. Hagan. “We’re ready to roll up our sleeves and show the people, families, businesses, and community organizations in the Capital Region what better banking’s all about.”
About Westfield Bank
Westfield Bank, headquartered in Westfield, Massachusetts, is a federally chartered savings bank organized in 1853 and is the largest publicly traded bank headquartered in western Massachusetts. The Bank is a full-service community-oriented financial institution offering a complete range of commercial and retail products and services. Currently the Bank has twenty-five branch offices, fifty-two ATMs, and an additional twenty-three seasonal ATMs and serves Hampden and Hampshire counties in western Massachusetts and Hartford and Tolland counties in northern Connecticut. The Bank’s middle market and commercial real estate lending team is based in Springfield, Massachusetts, and has a general regulatory limit on loans to one borrower of $33.4 million. As of March 31, 2020, the Bank employed 332 full and part time employees, had $2.2 billion in total assets, $1.8 billion in its loan portfolio, and $1.7 billion in total deposits. The Bank is regulated by the Office of the Comptroller of the Currency. As a member of the Federal Deposit Insurance Corporation (FDIC), the Bank’s deposits are insured up to the maximum FDIC insurance coverage limits.
Forward-Looking Statements
This press release contains statements that are forward-looking and are made pursuant to the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Readers are cautioned not to place undue reliance on any such forward-looking statements contained in this press release, which speak only as of the date made. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors discussed under the caption “Risk Factors” in Western New England Bancorp’s Annual Report on Form 10-K for the year ended December 31, 2019. Western New England Bancorp and Westfield Bank do not undertake and specifically decline any obligation to publicly release the result of any revisions that may be made to any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.