Company Notebook

PeoplesBank Passes $1M Giving Threshold
HOLYOKE — PeoplesBank recently announced a historic milestone for the 127-year-old institution: for the first time in its history, the bank contributed more than $1 million to local charitable and civic causes. “We are focused on the possible,” said President and CEO Douglas A. Bowen in making the announcement. “We feel it is possible to create a better community through our charitable giving and volunteer efforts. It is something that we are very passionate about, and it is this passion that makes us who we are.” In a year marked by the widespread devastation caused by the June tornadoes, the bulk of the bank’s charitable giving went toward human services. PeoplesBank committed $200,000 for tornado-relief efforts in the aftermath of the storm. Keeping to its track record of supporting environmentally friendly initiatives, $80,000 of that commitment was spent on regreening five of the impacted communities, including $40,000 for Springfield to help it return to its former status of ‘Tree City USA.’ The bank also made substantial contributions to education, including a greenhouse for students of the Leverett Elementary School. “We had been looking around for different ways to try and raise enough money to build a greenhouse, which is a fairly large expenditure,” said Suzie Chang, a volunteer and parent at the school. “So we were especially excited and thrilled that PeoplesBank decided to make a leadership gift of this size, because it enabled us to just go ahead and do the entire project.” According to Bowen, direct financial contributions are not the only way the bank is making a difference in Western Mass. “Writing a check is not the whole story. At PeoplesBank, we are actively encouraging and facilitating volunteerism. Our employees want to have a direct hand in helping the community. In fact, they were ranked third in the state for most-generous employees, and fourth for volunteer hours donated.”

Hampden Bancorp Reports 19% Increase in Net Income
SPRINGFIELD — Hampden Bancorp Inc., the holding company for Hampden Bank, recently announced net income for the three months ended Dec. 31, 2011 of $694,000 or $0.12 per fully diluted share, as compared to $491,000, or $0.18 per fully diluted share, for the same period in 2010. The company had an increase in net-interest income of $197,000 for the three months ended Dec. 31, compared to the same period in 2010. There was a decrease in interest and dividend income, including fees, of $362,000, or 5.6%, for the three months ended Dec. 31 compared to the three months ended Dec. 31, 2010. This decrease in interest income was mainly due to a decrease in loan income of $257,000 and a decrease in debt-securities income of $100,000. For the three-month period ended Dec. 31, interest expense decreased by $559,000, or 28.7%, compared to the three-month period ended Dec. 31, 2010. The company had net income for the six months ended Dec. 31, 2011 of $1.2 million, or $0.20 per fully diluted share, as compared to $1.0 million, or $0.16 per fully diluted share, for the same period in 2010. The organization’s total assets decreased $5.1 million, or 0.9%, from $573.3 million at June 30, 2011 to $568.2 million at Dec. 31, 2011. Net loans, including loans held for sale, increased $1.7 million, or 0.4%, to $399.8 million at Dec. 31, 2011. Securities decreased $5.8 million, or 5.2%, to $106.1 million as of Dec. 31, 2011 compared to June 30, 2011, and cash and cash equivalents decreased $6.2 million, or 19.9%, to $24.9 million at Dec. 31, 2011. The board of directors declared and increased the quarterly cash dividend to $0.04 per common share, payable on Feb. 28 to shareholders of record at the close of business on Feb. 14.

Dressbarn Plans Donation Drive
WESTFIELD — Dressbarn is teaming up with the nonprofit organization Dress for Success to gather more than 60,000 articles of clothing as part of its S.O.S. ­— Send One Suit — weekend donation drive on March 1-4. This year’s clothing drive marks the 10th consecutive year Dressbarn and Dress for Success have partnered to help women in need receive professional business attire. All 825 Dressbarn stores across the country, including the shop in Westfield, will serve as dropoff sites for new or gently used professional attire including suits, dress shirts, blazers, pants, dresses, and shoes that will be used to benefit women seeking to transition into the workforce. All of the collected professional items will be given to Dress for Success, which will then distribute the articles to women looking to gain a job or trying to re-enter the workforce.

Baystate Medical Center Plans Healing Garden
SPRINGFIELD — Patients, visitors, and staff at Baystate Medical Center will benefit from the therapeutic qualities provided by a new healing garden that will serve as the centerpiece of its Hospital of the Future, which opens its doors on March 2. Recognizing the importance of a holistic approach to medicine and the health benefits that gardens provide, Charles and Elizabeth D’Amour and Big Y have provided funding for the new healing garden, whose fountain, labyrinth, numerous plants, benches, and more will serve as a respite for those visiting Baystate. In recognition of the D’Amour family’s longstanding commitment to Baystate Medical Center and to create a healthy community, Mark R. Tolosky, president and CEO of Baystate Health, announced the official name of the garden as the D’Amour Family Healing Garden. “We are humbled and privileged to be able to honor our entire Big Y family of employees and customers by contributing to Baystate Health’s Hospital of the Future,” said Charles L. D’Amour, Big Y president and CEO. “Elizabeth and I are particularly proud to lend our efforts to support Baystate’s mission to improve the health of our neighbors, friends, and people in our communities, and we hope that this healing garden will provide comfort, support, and healing for all.” Tolosky noted that the hospital is grateful for the ongoing support of the D’Amour family over the years. “Their philanthropic support has been instrumental in helping us to carry out our mission of providing quality patient care and clinical excellence in a setting close to home, where residents throughout Western Mass. can benefit from the latest technology and specialized care,” he said. Tolosky added that studies have shown that access to an outdoor garden where patients and their families can relax in a beautiful, natural environment can have a positive effect on their physical and mental well-being. “The D’Amours’ latest gift to the hospital now makes this possible, not only for our patients and visitors, but for our health care staff who also need a place to get away and enjoy a moment for themselves,” he added. Located off the hospital’s main lobby, the garden is easily accessible to patients, staff, and anyone visiting the hospital.

MassMutual Retirement Services Records Third Year of Record Sales
SPRINGFIELD — MassMutual Retirement Services’ 2011 sales results mark the highest in the division’s 65-year history, surpassing its record-breaking sales performance of 2010. Written sales for 2011 exceeded $6 billion, representing a 13% increase over 2010. Assets under management in retirement plans administered by MassMutual also reached a new record of $55 billion at year end 2011, a 7% increase over the same period last year. The division also enjoyed record net cash flow in 2011, surpassing $3.5 billion for the first time in division history. “MassMutual’s strong sponsor retention rate of 95%, along with the sustained sales momentum in the company’s retirement plan business, have directly contributed to our 2011 record results,” said Elaine Sarsynski, executive vice president of MassMutual’s Retirement Services Division and chairman and CEO of MassMutual International LLC. “In addition to growing our core retirement-plan business in the corporate segment, MassMutual’s success in the nonprofit market was exceptional, with a 29% increase in sales vs. 2010.” Sarsynski added that MassMutual’s stable value/investment only and professional employer organization markets also enjoyed strong growth. “Our broad capabilities make MassMutual a provider of choice in the industry — one that delivers high-value, high-touch service,” she added.

Maybury Material Handling Receives Industry Award
EAST LONGMEADOW — Maybury Material Handling has been awarded MVP (Most Valuable Partner) status for 2011 in a new program from the industry’s trade association, the Material Handling Equipment Distributors Assoc. To earn the award, the company demonstrated a commitment to business excellence, professionalism, and good stewardship. MVP status requires a company to provide evidence of their commitment to their partners in business, including their customers, employees, and suppliers. Companies must satisfy criteria in industry relations, customer relations, peer-to-peer networking, training for employees, and business best practices. Brian Boals, UNARCO’s director of distributor sales, recommended Maybury for the honor, noting that “Maybury’s partnership with UNARCO is exemplary of the model to which we would like all dealer partners to aspire.” John Maybury, president of Maybury Material Handling, noted, that “our business success is dependent on forming partnerships with top-rated industrial suppliers like UNARCO and in hiring and developing associates that consistently display our values of integrity, teamwork, ongoing improvement, and customer-service excellence. They deserve every bit of this recognition.”

Berkshire Bank Receives National Recognition for Community Commitment
PITTSFIELD — Berkshire Bank has received national recognition for its contributions to the community from the American Bankers Assoc. (ABA) through the organization’s Community Bank Award Program. Berkshire Bank was one of more than 200 entrants to be awarded a certificate of recognition for its ‘outstanding work’ in the community through the efforts of its Employee Volunteer Program. “We are extremely honored to receive this recognition from the ABA, and take great pride in the contributions that we make to the community through our Employee Volunteer Program, as well as through the financial support we are able to provide to nonprofit organizations doing important work,” said Sean Gray, executive vice president of retail banking. “At Berkshire Bank, community involvement is ingrained in our culture. Our team members are always eager to give back in a variety of ways, including company-wide projects and individual initiatives such as board service.” In 2011, Berkshire Bank employees donated 26,620 hours of community service through both individual employee efforts and company-sponsored projects. Through the bank’s corporate employee-volunteer program, employees completed 67 projects last year in which more than 50% of the bank’s 800 employees participated. These projects included a company-wide food drive to support local food pantries, a care-package drive for soldiers serving overseas, assistance with tornado-relief efforts, mentoring efforts in local schools, winter coat collection, and various work projects throughout the bank’s service area. Gray noted that, of the 7,363 federally insured banks currently operating in the U.S., fewer than 1% were honored in 2011 with the ABA award for work in the community.

Synergy Physical Therapy Opens in Northampton
NORTHAMPTON — Physical therapists Jim Lyons and Bill Hogan recently opened a clinic, Synergy Physical Therapy, behind the Northampton Athletic Club on Carlon Drive. Lyons noted that the goal of the clinic is to “create the best physical-therapy clinic in the region and merge it with the health and fitness goals that Northampton Athletic Club has achieved, giving patients the best continuum of care on their wellness journey.” Hogan added that their commitment to patients is to “help restore function, improve mobility, relieve pain, and prevent or limit permanent physical disability.” Lyons is a graduate of Springfield College and American International College and is currently pursuing his doctorate in Physical Therapy with a concentration in manual therapy from the University of St. Augustine. He has experience working with a variety of orthopedic and neurologic conditions in all age groups, as well as pre- and post-surgical patients. Hogan started his career as an athletic trainer working with high-school, college, professional, and recreational athletes and broadened his scope of practice by acquiring a master’s degree in Physical Therapy. He has worked with geriatric and spinal rehabilitations, and his specialties are sports medicine, orthopedics, and manual therapy.

Monson Savings Involves Community in Giving
MONSON — For the second year, Monson Savings Bank asked the community to help plan the bank’s giving activities by inviting area residents to vote for the organizations they would like the bank to support during 2012. Hundreds of people weighed in and voted for more than 65 organizations doing community service work in Monson, Hampden, and Wilbraham, according to Steven Lowell, bank president. “Charitable giving is absolutely part of the fabric of this bank,” he said. “In 2011, we made more than $134,000 in contributions to local and regional causes, which were in part guided by the input we received through this process last year. We feel it is important to engage our communities like this and are pleased that so many people responded to our request for input.” The top vote getters are Greene Room Productions, Link to Libraries, Monson Bellman Antique Fire Apparatus Club/Museum, Opacum Land Trust, Monson Tornado Volunteers, Quaboag Highlanders Pipes and Drums, Trees Bring Hope, Monson Free Library, Wilbraham Soccer Club, and the Replanting Monson Tree Committee. Four of the 10 organizations were new to the top 10 list this year. “The fact that the list changes somewhat from year to year demonstrates the value of our reaching out to ask people for their input,” said Lowell, adding that “we are very pleased to be part of a community that is so committed to helping people, to volunteerism, and to great causes.”