Florence Savings Bank Continues Strong Growth
FLORENCE — Florence Savings Bank’s first-quarter financial results indicate a continuation of its strong growth trend, according to John F. Heaps, Jr., president. Total assets at the end of the first quarter stood at $883.8 million, an increase of $51.6 million or 6.2% from the corresponding period last year. Growth in the bank’s loan portfolio was the primary source of the asset growth. Total loans ended the quarter at $531.8 million, up $71.7 million or 15.6% from the prior year. The loan growth was fueled by increases in both residential real estate loans and equity loans. Residential real estate loans were up $49.7 million or 15.8%, ending the quarter at $364.8 million, and equity loans increased 39.8% or $19.2 million, ending the quarter at $67.5 million. Total deposits were $633.9 million at the end of March, up $31.2 million or 5.2% from March 2005 levels.
MassMutual Offers Weekly Podcast To Field Sales Force
SPRINGFIELD — While many people use their computers or MP3 players to download music, TV shows, and movies, MassMutual is taking podcasting to new levels by providing its field sales force with company news, product information, and marketing tips on a weekly basis. MassMutual’s National Center for Professional Development (NCPD), a unit providing training content and opportunities for its field force, writes, produces and distributes a weekly 15-minute audio podcast – a digital audio file delivered via the Internet – to field representatives. Currently, more than 700 of MassMutual’s field force subscribe to the free weekly program, and that number continues to grow. Subscribers provide regular feedback to the NCPD on content they would like to hear, which results in timely and informative programs that speak directly to the interests of listeners.
Easthampton Savings Bank Surpasses $675M in Assets
EASTHAMPTON — Easthampton Savings Bank’s assets were at $675.9 million at the end of the first quarter, according to William S. Hogan, Jr., president. The bank’s total assets were up $32.2 million from a year ago, an increase of 5%, and total assets were up $8 million for the quarter. Also, loans total more than $502 million, with the total loan portfolio increased $31 million, while deposit growth was $17 million or 3% from this time last year, an increase of $11 million or 9% for the quarter. Total deposits are now at $525 million.
UMass Breaks Ground for Environmentally Friendly Heating Plant
AMHERST — Groundbreaking ceremonies were recently staged for a $118.7 million central heating plant at UMass Amherst. The facility will replace an obsolete, coal-burning facility built in the 1940s. Fueled by natural gas and oil, the new plant will significantly reduce greenhouse gas emissions upon its scheduled completion in March 2008. The plant is designed to meet the campus demand for steam and will satisfy nearly all of the demand for electricity, and will comply with some of the most rigorous air quality requirements in the U. S. The facility will be located adjacent to the Amherst wastewater treatment plant on the western edge of the campus, overlooking playing fields. Housed in a 45,000-square-foot building with a 95,000-square-foot big roof that covers both the energy facility and associated storage tanks, the plant will have the look of a field house.
Bank Featured in American Banker; Opens NY Branch
PITTSFIELD — Berkshire Hills Bancorp Inc., and its subsidiary, Berkshire Bank, were recently featured in American Banker, the daily trade publication for the U. S. banking industry. The article discusses how the bank has grown since late 2002, under the direction of President and CEO Michael P. Daly. In other news, the bank recently opened a full-service branch at Delaware Plaza in Delmar, N.Y.
Smith & Wesson Lands $8M Contract
SPRINGFIELD — The California Highway Patrol recently ordered 9,700 stainless steel tactical pistols from Smith & Wesson, valued at approximately $8 million. The model 4006TSW pistols will be shipped over an 18-month period beginning in June. The pistols are priced at about $850 each and will replace earlier versions of the model 4006, which the California officers have used since 1990.
Businesses Receive CMA Awards
SPRINGFIELD — lshd Advertising Inc. recently won 17 Creative Merit Awards (CMA) at the Ad Club of Western Massachusetts’ annual awards show. lshd received top awards for Blackstone Medical Inc.’s “NASS Trade Show Promotional Campaign,” MassMutual’s “8-Ball” direct mail and landing page and “Prepared USA” ad and Tip in Brochure, as well as First Pioneer’s Annual Report and “USCRA Vintage Grand Prix” 4+ color poster. As part of the annual awards, the Ad Club also recognizes results. For the fifth consecutive year, lshd won the coveted Dynamic Impact Award for its results-driven campaign for MassMutual. Additionally, the firm won four Silvers, one of which was Holyoke Medical Center’s ‘A Star Is Born’ radio campaign, and seven Bronze Awards. Clients included MassMutual, Blackstone Medical Inc., Nufern, Deerfield Urethane, Heat-fab, Ensign-Bickford Aerospace & Defense and Farm Credit. Lenox Softworks also received a Gold Merit Award for its Lexington Group’s Web site entry in the Electronic/Interactive Media-web site category. The Lexington Group web site features a series of animated scenes of modern office space. For a complete list of Ad Club winners, visit www.adclubwm.org.
Titan Roofing Recognized By Firestone Building Products
CHICOPEE — Titan Roofing Inc. is a recipient of the 2006 Firestone Master Contractor Award from the Firestone Building Products Company. The yearly award recognizes a company’s dedication to installing quality roofing systems. This recognition marks the 19th time Titan Roofing has achieved Master Contractor status. Firestone-licensed contractors earn the Master Contractor Award each year based on total square footage and quality points accumulated for achieving exceptional inspection ratings on Firestone Red Shield warranted RubberGard™ EPDM, UltraPly™ TPO and asphalt based roofing system installations.
