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Pedal to the Mettle

Monson Savings Bank’s birthday celebration

Monson Savings Bank’s birthday celebration

Monson Savings Bank has been commemorating its 150th birthday in many different ways, from a time capsule to assembling and donating $15,000 worth of bicycles to several area charities. Through all these efforts, the bank is celebrating its continuity and its commitment to a community that is now much larger then when it took its first deposit back in 1872.

Dan Moriarty called it a ‘trial run.’

That’s how he referred to his 60-mile bike ride, which he also called the ‘Tour de Branches,’ on July 17, during which he visited all seven Monson Savings Bank (MSB) locations — five branches, the headquarters, and a loan center — on a trek that took him from Monson to East Longmeadow, with stops along the way in Ware, Wilbraham, and Hampden.

Moriarty, the bank’s president and CEO, said this was a tuneup for a ride two and a half times that length, a number that is significant because 150 is also the number of years the bank is celebrating this year, and the ride, still very much in the planning stages, has now become a poignant part of the celebration.

Dan Moriarty’s ‘Tour de Branches’

Dan Moriarty’s ‘Tour de Branches’ helped him prep for a 150-mile ride as part of Monson Savings Bank’s birthday celebration

“My goal is to raise money to give to a local charity … I’m thinking I could ask for per-mile pledges from friends, family, customers, and businesses,” Moriarty told BusinessWest, adding that the charity is still to be determined. “I’m guessing no other bank president belonging to a bank older than 100 years has done this.”

He’s probably on very safe ground with that statement. Not many bank presidents pedal such distances, although he’s certainly comfortable doing so having competed in several Ironman triathlons, where participants cycle 120 miles while also swimming 2.4 miles and running a full 26.2-mile marathon. And, more to his point, there simply aren’t many banks that can boast about being around for 100 years, let alone 150.

And that, more than anything else, is what MSB is celebrating this year, said Mike Rouette, executive vice president and chief operating officer, noting that this longevity, this stability — not only the same bank, but the same name since Ulysses S. Grant was patrolling the White House — is rare in this era of ongoing mergers and acquisitions.

bank employees buried a time capsule

As part of the 150th birthday celebration, bank employees buried a time capsule filled with a number of items reflective of 2022.

It is reflected, he said, in a borrowed slogan that the bank has adopted: ‘Never forget who you are and where you came from; it’s an important part of you that you will find strength and peace from.’

“It’s short, and it’s sweet, and it says a lot about us,” Rouette noted, adding that, while the bank has grown and expanded its presence within the region, it remains loyal to the principles on which it was founded in 1872.

Moriarty agreed.

“I think it takes a strong sense of loyalty to the legacy of the organization to hang on for that long,” he said. “As we know, in this area, some long-lasting institutions decided to go a different route and either merge or combine. It starts with the organization and how it feels the future can be laid out for a bank that’s been around a long time; if they feel they’re not going to make it, they look to a different situation or combination. So far, we’re not committed to looking in a different direction.”

Moving forward, he said the bank “has a lot to talk about” at its upcoming annual meeting and strategic planning sessions in September, from where, when, and how to expand geographically to anticipating where technology is going and how to maximize it to better serve customers.

“We had very big ideas, and I’m happy to say that we made most of them happen — and very successfully.”

“It’s all about delivery systems, customer service, where we’re physically going next, which means market analysis and possible branch expansion,” he explained. “We’re going to do it in a controlled and managed method.”

 

To a Higher Gear

While Moriarty is, indeed, a veteran of Ironman triathlons, it had been a while, seven years by his estimation, since he had taken part in one of those competitions. Thus, he admits to being a little sore after that 60-mile trial run.

“It was a reality check when I came off the bike that day,” he explained. “I said, ‘whoa … that was 60 miles; I have to do that twice plus another 30 miles.’ This will be a good challenge for me; there was about 3,500 feet of climbing for one loop — that’s like going up half of Mount Washington.”

Monson Savings Ba

Monson Savings Bank has retained its original name and home city for 150 years, a rarity in the banking world.

He’s presently training with long-time friend and Ironman coach Kevin Moloney, who took the 60-mile ride with him. He’s also mapping out a course, one that will essentially take him on the 60-mile loop twice, with an additional loop, totaling 30 miles, tacked on.

As he said, it’s a work in progress when it comes to planning the ride, choosing a beneficiary, and filling in other details. And this ride will, as noted, will be a capstone — along with a formal gala in September to be attended by employees, board members, and plus-ones (total guest list of … you guessed it, 150) — to what has been a full year of activities marking the bank’s milestone.

Recapping them, Caitlin O’Connor, vice president and Marketing officer, said there has been a wide variety of events and programs, from the burying of a time capsule to the commissioning of a painting of the bank’s first president, Charles Merrick; from a traveling historical display featuring antique currency to monthly $150 cash prizes; from the placing of a marker where the original bank building stood at the corner of Main and State streets in Monson to several build-a-bike initiatives, whereby bank employees have assembled and donated $15,000 worth of bicycles to several nonprofits in the area, including I Found Light Against All Odds, Educare Springfield, and the South End Community Center.

“We had a ‘Cheers to 150 Years’ event starting on March 19 to really kick things off; that’s was an employee event and the starting point,” O’Connor told BusinessWest. “And from then on, it just grew and took on a life of its own. We had very big ideas, and I’m happy to say that we made most of them happen — and very successfully.”

Collectively, these events and programs have punctuated the bank’s place in the community — literally, as with the marker placed at the original bank location, but also figuratively, as a community bank that is very much involved in the cities and towns where it has locations, and the region as a whole, Rouette noted, adding that the 150th anniversary has been a great vehicle for making introductions, forging new relationships, and reinforcing existing ones.

“What a great way to walk into a nonprofit that you’re hoping to bring into the bank or a commercial or residential customer,” he said of the celebration and everything that it conveys about the bank, its history, its stability, and a future that will look very much like the present and the past.

“It’s an opportunity to give them your story — who you are, what you’re about, and your overall legacy,” he went on. “People want to do business with people that have been around, that are part of the community — not just here today and gone tomorrow, but institutions that are truly the cornerstone, the bedrock of the area.”

 

The Ride Stuff

That word ‘area’ has taken on new meaning for MSB since its last major anniversary — its 100th, in 1972 — and especially since 1998.

It was during that year that the bank opened its first location outside of Monson, a branch in Hampden. Five years later, a third branch was opened in Wilbraham, and new locations were added in Ware in 2103 and East Longmeadow in 2020. During that same memorable year, MSB’s Loan and Operations Center moved to a state-of-the-art facility in Wilbraham.

‘Build a Bike,’ where employees assemble bikes and donate them to area charities

The 150th celebration has featured a number of programs and events, including ‘Build a Bike,’ where employees assemble bikes and donate them to area charities, in this case, I Found Light Against All Odds.

With these moves, the bank is now serving a much broader area and becoming more involved in the region’s unofficial capital, Springfield, and serving a broader demographic mix of commercial and residential customers, said Dina Merwin, senior vice president and chief risk and senior compliance officer for the bank.

“We’ve well beyond the towns in which we have branches, and so we recognize that we want to reach all potential customers in our market,” she explained. “We recognize also our desire to include financial inclusion in reaching all potential customers in our market, whether that cuts across lines of income levels, race, ethnicity, and any other basis.

“Many of our recent events were focused in the Springfield area,” she went on, “while we continue to support and celebrate all the communities in which we are committed. We also recognize that there have been some demographic shifts in our market area in age and different types of population, so it’s important for us to recognize that and make sure we’re inclusive in all our efforts.”

While the area being served by the bank has changed, the name over the growing number of doors hasn’t, said Moriarty, noting that his institution, unlike many others, has chosen to keep the name of the community where it began as part of the brand, as well as that word ‘Savings.’

“I think the recession will be short and challenging, but I think Monson Savings and other banks are positioned well to weather, manage, and help customers through this period.”

“We’re going against the grain on that in some respects,” he noted. “Mike and I met with the board of directors during a strategic planning session, and we feel that the reputation that the bank has built the past 150 years does mean something, and we believe it’s recognizable in the community. We want to leverage that from a standpoint of legacy — Monson itself, where it all began — and then ‘Savings’ connoting security and trust, even though we feel we are a commercial player in the market.”

Indeed, while celebrating its 150th anniversary in all those ways mentioned above, MSB has also been carrying on with business, said Moriarty, noting that it has been a solid year in many respects, despite a sagging economy, with continued growth in commercial lending and, overall, a $30 million increase in total assets, bringing the bank near the $650 million mark.

“We’re working to strengthen existing relationships while also fostering new ones across the board, from individuals to businesses,” he said. “We’re trying to help them navigate where this challenging environment is going.”

On the commercial-lending side of the ledger, an already competitive landscape has become even more so as rates start to edge up, said Rouette, adding that many businesses are being more cautious amid general uncertainty about where the economy is headed and, overall, a decline in confidence.

“You’re seeing a bit of a slowdown, especially as people hear of the inflationary environment we’re in,” he went on. “People are pushing back potential projects that they have; maybe they were going to start in the third quarter or fourth quarter of this year, and now they’re saying, ‘let’s pump the brakes a little bit and possibly look at next year and see where we land from a rate standpoint and with the economic environment.’

“We had a great first and second quarter,” he went on. “But when you’re out talking to customers, you can hear the apprehension and cautious tone of voice that business owners are using right now.”

Moriarty concurred, and noted that a recession is now more likely than not, in his opinion, and this will add to the many challenges business owners and managers are currently facing.

“I think the recession will be short and challenging,” he said, “but I think Monson Savings and other banks are positioned well to weather, manage, and help customers through this period. And once the Fed gets control of inflation and the employment market evolves a little bit, we’ll see some improvement.”

Looking ahead, and toward creation of a new strategic three-year plan for the bank, Moriarty said a number of topics will be considered, including the need to be more “customer-centric versus product-centric,” as he put it.

“That means that we have to make sure we’re creating frictionless opportunities and delivery systems that make it easy for customers to manage their banking,” he explained. “That includes digital banking; we know we have cutting-edge products now, but we know things are going to change drastically in the next three to five years, so we have to make sure we’re positioned to give those offerings to our customers.

“Artificial intelligence will come more into play in the next three to five years,” he went on. “The usefulness or the quickness with which we can do data analysis of what our customers have and what they need will be important. Customers want to have things at their fingertips; they want to maximize and analyze their financial situation and be able to look forward and make good decisions.”

As for possible geographic expansion, Moriarty said there are many possibilities, and he’s not ready to talk about any of them.

He did say that the consensus among experts in the industry is that the recent pattern of consolidation within the sector will continue, leaving opportunities for smaller, community banks like Monson Savings.

“We feel that we benefit from other mergers and acquisitions because we’ve been around for so long, and we know that where there’s shakeup, there’s also opportunity,” he said. “We’re going to keep an open mind to that.”

 

Going the Last Mile

Returning to the subject of his planned bike ride, Moriarty joked that now that he’s started to talk about it, he’s pretty much committed to doing it.

He’s training two or three times a week with Moloney and looking at a number of options for which charity or charities (probably the latter) he will be fundraising for.

It’s been a while since he’s taken part in an Ironman competition or even a marathon — he’s run in several of those as well, including Boston a number of times. But he said it’s like … well, riding a bike. Not really, but close.

In any case, like the institution he now leads, he’s proven that he’s in it for the long haul — as in the very long haul: 150 miles for him, 150 years for the bank.

They’ve both put the pedal to the mettle.

 

George O’Brien can be reached at [email protected]

Cannabis Daily News Events Luxury Living News Sports & Leisure The Cannabis Industry

NORTHAMPTON — HONEY, a recreational cannabis dispensary, located in the former home of Sierra Grille, will stage its grand opening on July 9 at 1 p.m.

Visitors can enjoy all day music, fresh popped kettle corn, and performances by the local hula hoopers, wing dancers, stilt walkers, and aerialists. There will be a fire performance at 8:30 p.m.

HONEY is owned and operated by Volkan Polatol and Kevin Perrier. In opening HONEY Northampton, Polatol and Perrier have teamed up with HONEY Brands, originally founded in California, which produces full spectrum, distilled cannabis oil in vape cartridges.

“We are thrilled to partner with the HONEY brand,” Perrier said. “It’s telltale black-and-gold packaging has become synonymous with the best cannabis hash oil on the market today. And now, consumers on the East Coast can try it for themselves. We’re also proud to be able to make the HONEY hash oils from our own facility at Wemelco Industries in Easthampton.”

In addition to HONEY vapes, the dispensary also carries the highest-testing flower and a huge selection of brands from across the state. The location’s innovative LED tunnel, color-changing displays, and chill playlist all create a relaxed, club vibe, and budtenders are on hand to give expert advice on all products.

Class of 2022 Event Galleries Special Coverage

The Class of 2022

More than 600 people turned out at the Log Cabin Banquet & Meeting House on June 16 to celebrate BusinessWest’s 40 Under Forty Class of 2022. The class, chosen by a panel of five judges, was the 16th class of rising stars celebrated by BusinessWest. The evening also featured the announcement of the Alumni Achievement Award winner for 2022 — Anthony Gleason II, president and co-founder of the Gleason-Johndrow Companies, a member of the class of 2010. The loud, boisterous crowd enjoyed networking, fine food, entertainment, and an opportunity to celebrate the latest young leaders to join one of the region’s more exclusive clubs. The photos on the following pages help convey the energy from a special evening. The event was sponsored by presenting sponsor PeoplesBank, with supporting sponsors Comcast Business, Live Nation, Mercedes Benz of Springfield, The Mill District, UMass Isenberg School of Management, and Stand Out Truck. The Young Professional Society of Greater Springfield was an event partner. The Alumni Achievement Award was again sponsored by Health New England.

2022 Presenting Sponsor

2022 Supporting Sponsors

2022 Presenting Sponsor Alumni Achievement Award

Partner

2022 Sponsor Videos

PeoplesBank

Health New England

Comcast Business

Live Nation

Mercedes-Benz Springfield

The Mill District

Stand Out Truck

UMass Isenberg

Class of 2020 Event Galleries Special Coverage

2020 40 Under Forty Virtual-Hybrid Celebration
Tues., Oct. 13 & Wed., Oct. 14, 2020

Scenes from Tuesday's 4 PM Event

Scenes from Tuesday's 6:30 PM Event

Scenes from Wednesday's 4 PM Event

Scenes from Wednesday's 6:30 PM Event


Photography by Leah Martin Photography

Amid new restrictions imposed by the governor on large gatherings and with a strong desire to keep everyone safe, it was decided that the most prudent course was to instead celebrate our honorees’ accomplishments with a hybrid platform.

The hybrid event has been spread out over two days on Tues., Oct. 13 and Wed., Oct. 14. Each “mini-event” will allow 10 honorees to celebrate in person at the Upper Vista of the Log Cabin. For those who can’t join us in person, we’ve created a livestream option so friends and family can cheer on the Class of 2020 from the safety and comfort of their home. The new two-night ‘Virtual Access Pass’ allows you to see all 40 of this year’s honorees accept their awards on Tuesday, Oct. 13 and Wednesday, Oct. 14!

The 40 Under Forty program for 2020 is sponsored by PeoplesBank and Health New England (presenting sponsors); Comcast Business, Isenberg School of Management, and Mercedes-Benz of Springfield (sponsors); the Young Professional Society of Greater Springfield (partner); and WWLP 22 News/CW Springfield (exclusive media sponsor).

Please refer to the below list to see when your 40 Under Forty honoree will be accepting their award.

2020 Sponsors Videos

2020 Presenting Sponsors

2020 Sponsors

2020 Partner

2020 Exclusive Media Sponsor

Event Galleries Features Healthcare Heroes

Scenes from the October 2019 Gala

The 2019 Healthcare Heroes

There were eight winners in this third class, with two in the category of Lifetime Achievement, because two candidates were tied with the top score. The Heroes for 2019 are:

• Lifetime Achievement (tie): Katherine Wilson, president and CEO, Behavioral Health Network Inc.; and Frank Robinson, vice president, Public Health, Baystate Health;

• Health/Wellness Administrator/Administration: Emily Uguccioni, executive director, Linda Manor Assisted Living;

• Collaboration in Health/Wellness: Carol Constant, convener, Dementia Friendly Western Massachusetts; and director of Community Engagement, Loomis Communities;

• Community Health: Amy Walker, certified nurse midwife, Cooley Dickinson Health Care;

• Emerging Leader: Tara Ferrante, program director of the Holyoke Outpatient Clinic, ServiceNet;

• Innovation in Health/Wellness: Cristina Huebner Torres, vice president, Research & Population Health, Caring Health Center Inc.; and

• Patient/Resident/Client Care Provider: Shriners Hospitals for Children – Springfield.

Photography by Dani Fine Photography

Presenting Sponsors

Partner Sponsors

Supporting Sponsors

40 Under 40 The Class of 2019

Scenes From the June 20 Event

40under40-logo2017aThe Class of 2019 was celebrated at the annual 40 Under Forty Gala on Thursday, June 20 at the Log Cabin Banquet & Meeting House in Holyoke.

More than 650 people crammed the Log Cabin which has become one of the region’s best networking events.

Presentation of the Continued Excellence Award to Cinda Jones, president of W.D. Cowls Inc., was the opening act of the 40 Under Forty celebration.


Photography for this special section by Leah Martin Photography

A Gallery of the Celebration

2019 Sponsor Videos

 

Presenting Sponsors

Sponsors

Partner

Exclusive Media Sponsor

Cover Story Event Galleries Healthcare Heroes

Scenes from the Healthcare Heroes 2018 Gala

Passion is the word that defines these heroes. And it was on clear display Oct. 25 at the Starting Gate at GreatHorse in Hampden, site of the Healthcare Heroes Gala.

This was the second such gala. The event was a huge success, not because of the venue (although that was a factor) or the views (although they certainly helped), but because of the accomplishments, the dedication, and, yes, the passion being relayed from the podium.

There are seven winners in all, in categories chosen to reflect the broad scope of the health and wellness sector in Western Mass., and the incredible work being done within it. Go HERE to view the  2018 Healthcare Heroes Program Guide

The Healthcare Heroes for 2018 are:

• Patient/Resident/Client Care Provider:

Mary Paquette, director of Health Services/nurse practitioner, American International College

• Health/Wellness Administrator/Administrator:

Celeste Surreira, assistant director of Nursing, the Soldiers’ Home in Holyoke

• Emerging Leader:

Peter DePergola II, director of Clinical Ethics, Baystate Health

• Community Health:

Dr. Matthew Sadof, pediatrician, Baystate Children’s Hospital

• Innovation in Health/Wellness:

TechSpring

• Collaboration in Health/Wellness:

The Consortium and the Opioid Task Force

• Lifetime Achievement:

Robert Fazzi, founder, Fazzi Associates.

American International College and Baystate Health/Health New England are presenting sponsors for Healthcare Heroes 2018. Additional sponsors are National Grid, partner sponsor, and Elms College MBA Program, Renew.Calm, Bay Path University, and Trinity Health Of New England/Mercy Medical Center as supporting sponsors.

HealthcareHeroesSponsors

Photography by Dani Fine Photography

Meet the Judges

There were more than 70 nominations across seven categories for the Healthcare Heroes Class of 2018. Scoring these nominations was a difficult task that fell to three individuals, including two members of the Class of 2017, with extensive backgrounds in health and wellness. They are:

Holly Chaffee

Holly Chaffee

Dexter Johnson

Dexter Johnson

Dr. Michael Willers:

Dr. Michael Willers:

Holly Chaffee, MSN, BSN, RN: Winner in the Healthcare Heroes Health/Wellness Administrator/Administration category in 2107, Chaffee is president and CEO of VNA Care, a subsidiary of Atrius Health. Formerly (and when she was named a Healthcare Hero) she was the president and CEO of Porchlight VNA/Homecare, based in Lee.

Dexter Johnson: A long-time administrator with the Greater Springfield YMCA, Johnson was named president and CEO of that Y, one of the oldest in the country, in the fall of 2017. He started his career at the Tampa Metropolitan Area YMCA, and, after a stint at YMCA of the USA, he came to the Springfield Y earlier this decade as senior vice president and chief operating officer.

Dr. Michael Willers: Winner in the Patient/Resident/Client-care Provider category in 2017, Willers is co-owner of the Children’s Heart Center of Western Mass. Formerly a pediatric cardiologist with Baystate Children’s Hospital, he founded the Children’s Heart Center of Western Mass. in 2012.
 

 

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