Page 10 - BusinessWest January 6, 2025

2025 Snapshots
Robert Fraser, President and CEO, MountainOne
The failure of Silicon Valley Bank in 2023 resulted in a regulatory focus on balance- sheet management and liquidity for banks of all sizes. On balance, liquidity to fund growth will continue to be a challenge for many banks and will contribute to more mergers as a means of
increasing efficiencies and creating more deposit- growth opportunities.
The Fed’s recent announcement regarding fewer- than-anticipated rate cuts in 2025 has dampened enthusiasm of significantly improving net-interest margins, but we should see some margin improve- ment in 2025. High long-term interest rates, along with minimal inventory, will continue to challenge the residential mortgage market.
Our company makeup, which includes a signifi- cant (and growing) bank-owned insurance agency and investment division, reduces our reliance on net-interest income for overall profitability. In 2024, we acquired two insurance agencies in the Pioneer Valley, G.W. Morisi Insurance and the McClure Insur- ance Agency. Looking ahead, we have the financial capacity to continue to acquire insurance agencies that fit our business model and culture. This strategy will continue to assist us in reducing dependence on net-interest margin.
Sam Hanmer, President and CEO, Rush Insurance Group
The property and casualty insurance industry in 2025 continues to navigate chal- lenges stemming from cli- mate change, inflation, and evolving technology. Cata- strophic weather events, such as hurricanes and wild- fires, have intensified claims, driving insurers to reassess
risk models and pricing. Inflation has raised the cost of claims, particularly in auto and property sectors.
Rush Insurance Group is advising clients to reas- sess their deductible levels as a way to save on pre- mium costs. Opting for a higher deductible means assuming greater out-of-pocket responsibility in the event of a claim, but often results in significantly lower monthly or annual premiums. This strategy
is especially beneficial for policyholders with strong financial reserves who can cover higher deductibles. By balancing deductible levels with risk exposure, clients can better control insurance costs while still maintaining essential coverage.
Carolyne Hannan, Senior Vice President, Comcast, New England
Comcast serves thousands of businesses and residents with Xfinity and Comcast Business products and ser- vices across Western Mass. Over the last three years, the company has invested nearly $909 million in our state-of- the-art network across Massachusetts.
In 2025, Comcast will introduce innovations like WiFi Boost, delivering gig speeds to Xfinity Mobile and Comcast Business Mobile customers, to sup- port increasing demands to stream, game, chat, and surf at home and on the go. Comcast will also con- tinue to invest in its network locally, delivering 2-gig download speeds and up to 10 times faster upload speeds to more Xfinity customers in Holyoke, Long- meadow, Southwick, Springfield, West Springfield, and Westfield.
Additionally, as cybersecurity threats evolve in 2025, businesses will need to establish a multi-lay- ered approach to protecting their operations. Com- cast Business has a full suite of solutions, including fast, reliable connectivity and advanced cybersecurity, to meet the needs of businesses of all sizes.
10 JANUARY 6, 2025
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