Company Notebook

Company Notebook

New England Public Radio, WGBY Join Together to Create New England Public Media

SPRINGFIELD — New England Public Radio and WGBY Public Television announced they will join to create a robust new multi-media organization, New England Public Media (NEPM), with one of the largest newsrooms in Western Mass. With a goal of expanding public media offerings for the people of Western New England, NEPM will build on the strength of each organization to deliver the educational content, cultural and news programs, and community engagement that characterizes public media. Martin Miller, CEO and general manager of New England Public Radio, will become president of NEPM. Anthony Hayes, general manager of WGBY Public Television, will become chief operating officer and general manager of the new organization. NEPM will be an independently run organization with its own governing board. Combined, New England Public Radio and WGBY Public Television have 78 employees, and all current employees will be part of the new organization. NEPM’s enhanced newsroom will total about 21 and is expected to grow over the coming years. The WGBH Educational Foundation, which holds the broadcast license for WGBY, will invest $6 million over six years in the new venture. When combined with critical community support for NEPM, this investment will allow for new programming while ensuring in-depth local journalism remains the centerpiece of the combined organization. WGBH will have a seat on the NEPM board. UMass Amherst will continue to hold the broadcast license for WFCR 88.5FM, and along with the NEPR Foundation board, it has been actively involved in the negotiations that led to the creation of NEPM. The university remains deeply committed to supporting the growth of public media in Western Mass. and will have a seat on the NEPM Board. The support of the Five College Consortium has been a vital part of the history and long-standing excellence of WFCR (Five College Radio) and New England Public Radio since its inception. The executive director of the consortium, which includes Amherst, Hampshire, Mount Holyoke, and Smith colleges as well as UMass Amherst, will also serve on the NEPM board. Along with an expanded news service, NEPM will focus on new content creation including digital music streams, multi-platform and digital programming, and community engagement and education, in addition to the programs audiences now enjoy. A new daily radio program with a local focus will be among the first initiatives the new organization will undertake. Details will be finalized over the coming months with plans and final approval to be completed this summer.

 

Gov. Charlie Baker to Speak at UMass Amherst Commencement

AMHERST — Gov. Charlie Baker will be the featured speaker at the undergraduate commencement at UMass Amherst on Friday, May 10 at 4:30 p.m. at McGuirk Alumni Stadium. The governor will address an anticipated crowd of about 20,000 family members, friends, and other guests as approximately 5,500 undergraduates receive their bachelor’s degrees at the Commonwealth’s flagship campus. “We are honored that Governor Baker will deliver this year’s commencement address,” said UMass Amherst Chancellor Kumble Subbaswamy. “As a results-driven leader, he combines a concentration on thoughtful data analysis with an emphasis on building relationships that strengthen our Commonwealth. His support for UMass Amherst has provided our students the opportunity to flourish as they play an invaluable role in the state’s innovation economy. “It’s no coincidence that, under the governor’s leadership, Massachusetts has achieved record employment, the highest percentage of citizens with healthcare, and an outstanding education system,” he went on. “At the flagship campus, we are proud of playing a role in providing high-quality, affordable education for our citizens.”

Big Y Express Eliminates Plastic Bags

SPRINGFIELD — As part of the recent announcement of Big Y Foods Inc. to phase out single-use plastic bags at its checkouts, its Big Y Express Gas and Convenience locations became the first division in the 80-store company to eliminate these bags completely. Previously, Big Y Express in Lee was the only gas and convenience location without these bags as part of that town’s ordinance. Now, the other eight locations in Massachusetts and Connecticut have joined in this pursuit. Single-use plastic bags create an inordinate amount of waste. According to the EPA, more than 380 billion plastic bags are used in the U.S. each year. If not disposed of properly, this plastic can end up in waterways and forests where it can harm fish, marine animals, birds, and other wildlife. Big Y has been complying with single-use plastic-bag bans in five of its local communities in Massachusetts (Amherst, Great Barrington, Lee, Northampton, and South Hadley) since 2014. The company also issued a pledge in January to eliminate all single-use plastic bags at its checkouts in 2020. The elimination of these bags at its Express locations is the first phase of the implementation for this pledge. Currently, there are several more towns with bans pending, such as Longmeadow and West Springfield. In addition, the legislatures of both Massachusetts and Connecticut are discussing statewide bans on single-use plastic bags.

Country Bank Reports Record Earnings, New Board Leadership

WARE — Country Bank President and CEO Paul Scully announced the appointment of Maura McCaffrey, former CEO of Health New England, and Keith Blanchette, partner at Stolberg, Ebbeling and Blanchette, LLP, to its board of trustees at its recent annual meeting held at the AC Marriott in Worcester. The bank also appointed five new corporators, including Nancy Crimmin, president of Becker College; Cherylann Gengel, co-founder of Be Like Brit; Michael Myers, president of the Worcester Railers; Peter Dawson, partner at Mirick O’Connell; and Mark Donahue, partner at Fletcher Tilton. At the meeting, Country Bank reported its 2018 earnings resulted in record-breaking profits. Net income was reported at $12,853,000, with total assets increasing to $1,624,000,000. Deposit balances increased to $1,083,182,000, and total loans increased from the prior year to $1,240,421,000. Capital was reported at 14.06%, maintaining the bank’s position as one of the higher-capitalized banks in the Commonwealth. As part of its ongoing Worcester expansion, the bank partnered with the Worcester Red Sox as one of the team’s 21 founding partners in anticipation of its move to Worcester in 2021.

United Financial Bancorp Announces Q1 Earnings, Dividend

HARTFORD, Conn. — United Financial Bancorp Inc., the holding company for United Bank, announced results for the quarter ended March 31. The company reported net income of $12.7 million, or $0.25 per diluted share, for the quarter ended March 31, 2019, compared to net income for the quarter ended Dec. 31, 2018 of $12.2 million, or $0.24 per diluted share. The company reported net income of $15.8 million, or $0.31 per diluted share, for the quarter ended March 31, 2018. “Despite the challenging operating environment, the United Financial Bancorp Inc. team is focused on expanding and winning new client relationships, maintaining strong asset quality and ample capital, and providing superior customer service,” said William Crawford, IV, president and CEO of the company and the bank. Assets totaled $7.34 billion at March 31, 2019, decreasing $16.9 million from $7.36 billion at Dec. 31, 2018. At March 31, 2019, total loans were $5.73 billion, representing an increase of $75.1 million, or 1.3%, from the linked quarter. Deposits totaled $5.66 billion at March 31, 2019 and decreased by $6.3 million, or 0.1%, from $5.67 billion at December 31, 2018.

HealthDrive to Acquire New England Geriatrics

WEST SPRINGFIELD — HealthDrive, a leader in delivering integrated specialty healthcare services to residents of long-term care, skilled nursing, and assisted-living facilities, announced it has reached a definitive agreement to acquire New England Geriatrics (NEG), a provider of comprehensive and quality psychiatric care for patients and their families. This acquisition will allow HealthDrive to expand its services as it seeks to create a leading multi-specialty healthcare platform for vulnerable populations. This is the first acquisition for HealthDrive as a portfolio company of Bain Capital Double Impact, the impact-investing business of Bain Capital. Financial terms of the private transaction were not disclosed. NEG was founded on mission-driven principles in 1994 to provide mental-health services to underserved geriatric populations in Massachusetts. Today, the company serves more than 13,500 Massachusetts and Connecticut residents in over 129 long-term-care facilities, four managed inpatient geriatric psychiatric units, and one outpatient clinic through its dedicated network of mental-healthcare professionals. As consultants to the facilities and their primary-care physicians, NEG clinicians provide evaluation and diagnostic services, medication management, psychotherapy, behavior-management consultation, and evaluation of patients for inpatient psychiatric hospitalization. Steve Marcus, the current CEO of NEG, who will join HealthDrive as a senior adviser, added that “we selected HealthDrive as our partner because it is most aligned with our commitment to clinical excellence for the vulnerable population New England Geriatrics serves. We have worked side by side with HealthDrive providers in skilled-nursing facilities for many years, and it is apparent that the HealthDrive team truly understands the population that we at New England Geriatrics make our mission to serve. We are confident that, through our partnership with HealthDrive, New England Geriatrics will continue to offer the same great level of care that we have provided over these past 25 years.” The transaction is anticipated to close in the first half of 2019 and is subject to regulatory review and customary closing conditions.

UMassFive Among Recipients of Workforce Training Fund Grant

HADLEY — UMassFive College Federal Credit Union announced its selection as one of 68 Workforce Training Fund grant recipients in the state of Massachusetts chosen by the Baker-Polito administration. As a financial institution deeply invested in the communities it serves, UMassFive takes pride in supporting the local economy through providing quality service and products for its members, and by offering employment opportunities that encourage personal growth and career development. Accomplishing both of these goals means taking a real interest in the professional development of every employee and offering training opportunities so that any staff might become an expert in their chosen field. The $174,000 awarded to UMassFive will provide training for current and newly hired employees that focuses on technology-related mastery as well as leadership and management development in order to promote job growth, retention, and increased opportunity. This project is funded by a Workforce Training Fund grant from the state Executive Office of Labor and Workforce Development. The grant program is administered by Commonwealth Corp.

Work Opportunity Center Cuts Ribbon on New Springfield Facility

SPRINGFIELD — Work Opportunity Center Inc. held a ribbon-cutting ceremony on April 8 at its newly purchased and renovated community-based day-services (CBDS) facility located at 73 Marketplace in Springfield. Established in 1969, Work Opportunity Center Inc. (WOC) initially served its participants through a center-based work-service model. Community-based day services were added in the summer of 2014. In June 2016, center-based work services were discontinued for all participants, and those services were converted to CBDS. As of March 14, 2019, there are approximately 84 individuals participating in WOC CBDS services. Last month, 34 program participants and six staff members transferred from the WOC facility in Agawam to its newest facility in Springfield. The CBDS program of supports enables individuals with developmental disabilities to enrich their lives and enjoy a full range of community activities by providing opportunities for developing, enhancing, and maintaining competency in personal, social, and community activities. Service options for individuals participating in the CBDS program include career exploration, community-integration experiences, skills development and training, volunteer opportunities with local nonprofits, health and fitness classes, socialization experiences, and support to enhance interpersonal skills as well as the pursuit of personal interests and hobbies. The renovation of the 73 Marketplace facility is supported by a $10,000 grant made by the Irene E. & George A. Davis Foundation along with a $5,000 grant from Westfield Bank toward the purchase of a new vehicle for program participants.

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