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HAVERHILL, Mass. (May 26, 2009) — Haverhill Bank employees raised and donated more than $800 to local organizations from January through April. Recipients included the American Heart Association, Somebody Cares New England and the Massachusetts Society for the Prevention of Cruelty to Animals at Nevins Farm.
The fundraising was coordinated by the Haverhill Bank Activities Committee — an employee-based group whose mission is to give back to the community.
“Haverhill Bank is proud of the work the Activities Committee does to support organizations in the Greater Haverhill community,” said Haverhill Bank President and Chief Operating Officer Peter DiBenedetto. “As a community bank, the bank aims to assist with the needs of the people in this area. With today’s economy, those needs are diverse and range from providing food to families, to supporting animal shelters experiencing an increase in abandoned animals,” he said.
To raise money the Activities Committee orchestrated various in-house events and encouraged employee participation, which required a small financial donation. Past events include “Jeans for a Healthy Heart” and “Red Sox Opening Day for the MSPCA.” The committee determined where to donate the funds. |
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HAVERHILL, Mass. (May 5, 2009) — Haverhill Bank is honoring Rebuilding Together Greater Haverhill Inc. on its “Civic Spotlight” Web page. The nonprofit organization brings volunteers and communities together to improve the homes and lives of low-income homeowners by donating the time, labor and materials needed to complete vital repair projects.
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Haverhill Bank is honoring Rebuilding Together Greater Haverhill Inc. on its “Civic Spotlight” Web page. |
The organization serves residents of Plaistow, N.H., Haverhill, Georgetown, Groveland, Merrimac and Boxford, and emphasis is placed on helping elderly and disabled individuals, veterans and those who have been displaced from their homes due to natural disasters.
“Rebuilding Together is an organization that defines the concept of community –– a group of individuals connected through a common sense of responsibility to help their neighbors,” said Haverhill Bank Chairman and Chief Executive Officer Thomas R. Faulkner. “Without donations from local businesses such as Haverhill Bank, Rebuilding Together could not continue to provide services to those in need,” he said. Haverhill Bank donates more than $40,000 to organizations throughout the community each year.
Each quarter the Civic Spotlight page on the Haverhill Bank Web site honors one local organization for their efforts to help community residents inprove their lives. Visitors to www.haverhillbank.com may use this online feature to learn more about a selected organization. The page features photographs and offers readers an inside look at the services Rebuilding Together Greater Haverhill provides to the community.
Rebuilding Together Greater Haverhill just completed its annual “Rebuilding Day” event on April 25 and 26 –– more than 400 individuals volunteered to repair 25 homes located in the Greater Merrimack Valley. Since the organization was locally incorporated in 1991, more than 1,500 volunteers have completed hundreds of successful projects for more than 400 homes worth a market value of more than $1.5 million. Rebuilding Together Greater Haverhill is part of a network of nearly 225 affiliates across the country.
“It’s about neighbors helping neighbors,” said Rebuilding Together Program Manager Lynn Murphy. “It’s about taking care of everyone with needs in the community.”
Rebuilding Together is always searching for new volunteers. Those interested in donating their time may register online at www.rebuildingtogetherhaverhill.org. |
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HAVERHILL, Mass. (April 29, 2009) — Karen E. Alvino, a resident of Haverhill’s Bradford section and Lynda A. Abate of Methuen were promoted to vice president/compliance and assistant treasurer/compliance, respectively.
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Karen E. Alvino |
Both are responsible for assisting with financial reporting and compliance relating to state and federal regulations. Together, the two offer more than 50 years of experience in the local banking industry.
“Karen and Lynda control the risk of the bank, and ultimately protect the best interests of bank customers. Compliance ensures consumers receive the information needed to make an educated purchasing decision,” said Haverhill Bank Chairman and Chief Executive Officer Thomas R. Faulkner “With so many new, promising products reaching the market, it is crucial that customers understand the realistic benefits and limitations of each”, he said.
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Lynda A. Abate |
Alvino has served the past 28 years at Haverhill Bank. She said her job constantly challenges her to continue to learn and develop new skills. Alvino is a graduate of Lowell State College (now University of Massachusetts Lowell).
“I am excited to apply my banking experience and education to my new position,” said Abate, who has served at local institutions including Bay Bank Merrimack Valley, Merrimack Valley Federal Credit Union and most recently, the former Northeast Community Credit Union until it merged with Haverhill Bank. She received a bachelor’s degree from Hesser College in Manchester, N.H. |
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HAVERHILL, Mass. (April 22, 2009) — Haverhill Bank plans to close its Cushing Avenue branch pending regulatory approval. Disruption is expected to be minimal since the branch is located less than half a mile from the bank’s Rosemont branch.
The bank’s board of directors met Tuesday night and voted unanimously to close the branch near the Plaistow, N.H. border. It was one of four branches of the former Northeast Community Credit Union that merged with Haverhill Bank last December.
“Obviously, it is difficult to justify keeping a branch open that is within walking distance of another,” said Chairman and Chief Executive Officer Thomas R. Faulkner. With heightened public scrutiny of banks and other financial institutions during the current economic downturn, the board believed it prudent to close the branch. “It was a difficult decision since both the Cushing and Rosemont offices had similar construction costs, consumer traffic, deposits, employees and highway access,” he said. Because consumer convenience is of utmost importance, Haverhill Bank will continue to consider other locations for future branches, Faulkner added.
Attempts will be made to reassign as many of the seven employees as possible to the remaining six Haverhill Bank offices and branches. “The bank, as it has been since 1877, is depositor owned and only depositors will benefit from any cost savings,” Faulkner said.
All of the expected operating efficiencies from the merger of the two institutions have not yet been fully realized since the union took place only a few months ago. While there have been one-time costs associated with merging accounts and data, savings will come from information technology, insurance, auditing and other operating expenses. Haverhill Bank has deposits of $212 million and capital of $30 million or 12 percent of assets. |
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Haverhill Bank Chairman/CEO Thomas R. Faulkner (right) and President/COO Peter L. DiBenedetto present Beatrice M. Davis (center) with the grand prize from Haverhill Bank’s Royalty Raffle. |
HAVERHILL, Mass. (April 8, 2009) — Beatrice M. Davis of Haverhill was named as the grand prize winner of the Haverhill Bank Royalty Raffle. Courtesy of Haverhill Bank, Davis will spend a day treated as royalty, complete with a visit to a spa and dinner out on the town — all by way of limousine.
Cynthia Comeau and Toni Donais, both of Bradford, won the second and third prizes respectively. Comeau was awarded a 26 inch flat-screen, LCD Samsui television and Donais received an Apple iPod Touch.
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Toni Donais (center), one of three winners of the Haverhill bank Royalty Raffle, receives an iPod Touch from bank Chairman/CEO Thomas R. Faulkner (right) and President/COO Peter L. DiBenedetto. |
“The royalty theme was rather fitting – customers should feel as if they are being treated like roayalty,” said Chairman and Chief Executive Officer of Haverhill Bank, Thomas R. Faulkner. “Today, people can conduct their banking in so many different ways, with banks that may not even be local. Haverhill Bank aims to treat each customer as if he or she is the most important customer at the bank, whether they come into a branch or bank online,” he said
The free contest, sponsored by Haverhill Bank, ran throughout the month of February and celebrated the benefits of the recent merger between the bank and former Northeast Community Credit Union. The contest was open to both customers and non-customers and the winners were drawn at random by Faulkner and Peter L. DiBenedetto, president and chief operations officer. |
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HAVERHILL, Mass. (Jan. 12, 2009) — Haverhill Bank customers and former credit union members may use any branch beginning today. Though Haverhill Bank and the former Northeast Community Credit Union officially merged Dec. 16, 2008, due to system upgrades and data merging, customers and former members could not use all branches until today.
Haverhill Bank has seven locations throughout Greater Haverhill, including Haverhill High School and Whittier Regional Vocational Technical School. Nearly all branches feature drive-up tellers and 24-hour automated teller machines (ATM). Remote ATMs are located in the Ward Hill Business Park, Whittier Rehabilitation Hospital and on Hilldale Avenue.
“Banking at Haverhill Bank is now even more convenient. Now, with seven branches located throughout the community, many customers are likely to discover a branch closer to home, work or school,” said Chairman and Chief Executive Officer Thomas R. Faulkner. He said Haverhill Bank now has branches located within schools thought the community, allowing many students and staff a quick and convenient alternative to accessing accounts.
“The current hours of operation at each branch will not change, and the same helpful staff that so many have come to rely on will still be assisting customers with their banking needs,” explained President and Chief Operating Officer Peter L. DiBenedetto.
Since the completion of the merger, customers now benefit from full-deposit insurance. Haverhill Bank now has the ability to offer more services and issue larger loans than either of the two institutions could have separately. Savings are coming in the areas of information technology, insurance, auditing expense and other operating expenses.
The bank currently reports assets of approximately $250 million, deposits of $215 million and capital of $30 million. The institution now employs about 85 staff. |
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HAVERHILL, Mass. — Northeast Community Credit Union Treasurer and CEO Peter L. DiBenedetto and Haverhill Bank President Thomas R. Faulkner met Monday in Boston to officially complete the merger of Haverhill Bank and Northeast Community Credit Union. The two signed documents sealing the union of the two Haverhill-based institutions.
Today, all former credit union offices are operating under the Haverhill Bank name and customers are receiving full deposit insurance coverage from Federal Deposit Insurance Corporation and Share Insurance Fund. Customers should continue to use their usual branches until Monday, Jan. 12, 2009. All branches will be closed only one day; Saturday, Jan. 10, 2009 to merge computer files.
“Haverhill Bank is a depositor-owned institution, so despite the name change, all former credit union members will still remain part-owners of their financial institution,” said Faulkner. He noted Haverhill Bank provides full-deposit insurance and will now have seven locations throughout Haverhill, including Haverhill High School and Whittier Regional Vocational Technical High School. Haverhill Bank will also be able to offer more services and larger loans to customers, he said.
Haverhill Bank remains the oldest cooperative bank in Massachusetts. Faulkner will serve as chairman and chief executive officer and DiBenedetto will serve as president and chief operating officer. No layoffs are proposed and all branches will remain open immediately after the merger.
Faulkner said savings will come in the areas of information technology, insurance, auditing expense and other operating expenses.
The bank will have combined assets of approximately $260 million, deposits of $220 million and capital of $30 million, thereby enabling the ability to offer larger loans than either of the separate institutions may now provide. Despite their different charters, Northeast Community Credit Union and Haverhill Bank are very similar organizations. Both are owned by their depositors or members and have deep roots in the community. |
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HAVERHILL, Mass. — The merger of Northeast Community Credit Union (NCCU) and Haverhill Bank is expected to close on Tuesday. Upon the official signing, the credit union will immediately begin operating under the name Haverhill Bank.
Those visiting the bank should expect to notice the new identity immediately from signage, but not personnel. There will be no layoffs and all branches will remain open after the merger.
“Combining data and merging accounts will be relatively easy in that the two organizations now are on the same data processing server. However, this will not be complete until January 12, 2009,” said NCCU Treasurer Peter L. DiBenedetto.
“After the merger is complete, credit union members will officially be insured by FDIC and SIF, which together insures all deposits 100 percent. Products and services of both institutions will remain the same at this time,” said Haverhill Bank President Thomas R. Faulkner.
Haverhill Bank remains the oldest cooperative bank in Massachusetts. Faulkner will serve as chairman and chief executive officer and DiBenedetto will serve as president and chief operating officer.
The bank will have combined assets of approximately $260 million, deposits of $220 million and capital of $30 million, thereby enabling the ability to offer larger loans than either of the separate institutions may now provide. Despite their different charters, Northeast Community Credit Union and Haverhill Bank are very similar organizations. Both are owned by their depositors or members and have deep roots in the community. |
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HAVERHILL, Mass. — The National Credit Union Administration (NCUA) and Massachusetts Division of Banks this week both approved the merger of Northeast Community Credit Union and Haverhill Bank. These were the two final federal and state regulatory approvals required to merge the two institutions.
Pending the official concurrence of both organizations, which will take place in the form of a “closing” in December, the merger will be completed. Combined operations under the Haverhill Bank name are expected to begin in January. As state law requires, the resulting institution will remain a bank.
“Expect a smooth, organized transition. Both organizations have deep roots in the local community and hold similar values. Together, the organizations remain committed to providing superior personal service, empowering employees, supporting local businesses and participating in the community,” said Northeast Community Credit Union Treasurer and CEO Peter L. Di Benedetto. He noted the organizations use identical computer systems and home computer banking system, so operations will largely remain unchanged.
“Operating together as one, the organizations are better equipped to serve the Greater Haverhill community. Credit Union members will now experience full deposit insurance and customers will benefit from access to additional branch locations,” said Haverhill Bank President Thomas R. Faulkner. “Across the board customers will enjoy improved efficiencies, plus the ability to receive larger loans,” he added.
Haverhill Bank remains the oldest cooperative bank in Massachusetts. Faulkner will serve as chairman and chief executive officer and Di Benedetto will serve as president and chief operating officer. No layoffs are proposed and all branches will remain open immediately after the merger.
Faulkner said savings will come in the areas of information technology, insurance, auditing expense and other operating expenses.
The bank will have combined assets of approximately $260 million, deposits of $220 million and capital of $30 million, thereby enabling the ability to offer larger loans than either of the separate institutions may now provide. Despite their different charters, Northeast Community Credit Union and Haverhill Bank are very similar organizations. Both are owned by their depositors or members and have deep roots in the community. |
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HAVERHILL, Mass. (Oct. 20, 2008) — Members of Northeast Community Credit Union tonight gave their final approval to the merger of the credit union with Haverhill Bank. The vote, subject to final certification by an independent firm, was part of a process approved by the National Credit Union Administration (NCUA) and Massachusetts Division of Banks.
Upon final regulatory concurrence, combined operations under the Haverhill Bank name are expected to begin in January. Under state law, the resulting institution must remain a bank.
“I am grateful to the members for considering what is best for them as well as the community. Combining these two local institutions ensures all deposits will remain within Greater Haverhill,” said Northeast Community Credit Union Treasurer and CEO Peter L. Di Benedetto said. “Mayor Fiorentini and other community leaders pledged their support for this initiative early on in the process,” added Di Benedetto.
“This union provides greater financial stability and security to members of the Greater Haverhill community. Improved efficiency, greater capital and the ability to offer larger loans are among the benefits of this transaction. Moreover, former credit union members will benefit from full deposit insurance,” said Haverhill Bank President Thomas R. Faulkner. He explained, “At Haverhill Bank all deposits above the $250,000 limit of the Federal Deposit Insurance Corporation are covered in full by the Share Insurance Fund.”
Haverhill Bank will remain the oldest cooperative bank in Massachusetts. Faulkner will serve as chairman and chief executive officer and Di Benedetto will serve as president and chief operating officer. No layoffs are proposed and all branches will remain open after the merger.
Faulkner said savings will come in the areas of information technology, insurance, auditing expense and other operating expenses.
The bank will have combined assets of approximately $260 million, deposits of $220 million and capital of $30 million, thereby enabling the ability to offer larger loans than either of the separate institutions may now provide. Despite their different charters, Northeast Community Credit Union and Haverhill Bank are very similar organizations. Both are owned by their depositors or members and have deep roots in the community.
Haverhill Bank maintains offices at 180 Merrimack St., 163 South Main St. and 1094 Main St. Northeast Community Credit Union has locations at 100 Lafayette Square, 20 Cushing Avenue and Haverhill High School. It is also in the process of opening a branch at Whittier Regional Vocational Technical High School. Together, the institutions employ about 85 staff. |
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HAVERHILL, Mass. — Haverhill Bank named Harry J. Korslund III of Windham, N.H. senior vice president of commercial lending in April. Korslund has 20 years of industry experience and commercial borrowers benefit from his unique knowledge and experience of the region’s economic cycles, specifically during difficult economic periods.
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Harry J. Korslund III |
Korslund’s responsibilities include managing the bank’s commercial loan function, monitoring the bank’s portfolio and overseeing new business development.
“With his background in business and experience in banking, Harry is well qualified to serve in this position. I am confident he is the right choice for our customers and will play a principal role in the bank’s future growth,” said President of Haverhill Bank, Thomas R. Faulkner.
“I am excited to take what I have learned over the past 20 years and apply my knowledge to Haverhill Bank. I hope to further develop the bank’s existing staff and increase each individual’s responsibilities so they may better serve the needs of our customers,” explained Korslund.
Korslund served as vice president of commercial lending for Citizens Bank and Shawmut Bank. He earned a bachelor’s degree in business and economics from St. Anselm College and resides in Windham, N.H. with his wife Mary S. Korslund. He has two children who both attend Pennsylvania State University. |
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HAVERHILL, Mass. — Haverhill Bank is honoring Bethany Homes on its “Civic Spotlight” Web page. The not-for-profit organization provides four elderly housing residences and two supportive care services, Bethany Services and Sarah’s Place, an affiliate of Bethany Homes.
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| Mission Towers is one of four Bethany Homes’ properties providing affordable housing for local senior citizens. |
Bethany Homes assists moderate and low income seniors by reducing rent far below the fair market for Haverhill. Though monthly rent varies per resident, many pay about 30 percent of their income. Each residence offers special activity programs and modern amenities such as beauty shops and wellness clinics.
“We’re providing not just bricks and mortar, but rather a lifestyle in a safe and supported community,” explains David Thomas, President and CEO of Bethany Homes.
Sarah’s Place, an adult day health center, offers elderly participants an opportunity to socialize and continue an active lifestyle. Bethany Care is a certified group adult foster care and congregate housing services provider who provides residents with meals, personal care, a managed care plan and access to other community services.
Regulations placed on not-for-profit organizations force Bethany Homes to depend on donations from local businesses such as Haverhill Bank to provide its supportive services at no cost or with subsidized fees. More than 2,000 individuals, organizations and private foundations have helped keep Bethany Homes in business.
“It’s rewarding to be involved with an organization that provides members of the community with such a unique opportunity. Because of today’s steep cost of living, many local elders are faced with lowered standards of living. Bethany Homes provides those individuals with a realistic and immediate solution to their problems,” said Thomas R. Faulkner, president of Haverhill Bank.
Each quarter the Civic Spotlight page on the Haverhill Bank Web site honors one local organization for their efforts to help community residents inprove their lives. Visitors to www.haverhillbank.com may use this online feature to learn more about a selected organization.
The Civic Spotlight page tells of the history of the organization and offers readers an inside look at the services it provides the community. |
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HAVERHILL, Mass. — Haverhill Bank was recently approved by the Small Business Administration (SBA) as an Express Lender. The SBAExpress program reduces the number of government mandated forms and procedures, streamlines processing and reduces the cost of smaller, less complex SBA loans.
The SBA provides businesses that might not otherwise qualify for a business loan with funding opportunities by guaranteeing a portion of the loan, which lowers the risk assumed by the lender.
“With SBAExpress commercial borrowers now experience a quick turnaround for SBA-backed loans. A once lengthy and drawn-out approval process has been reduced to less than 36 hours,” said Thomas R. Faulkner, president of Haverhill Bank.
The program allows lenders to use their own loan application forms, internal credit memoranda and documentation procedures, thereby providing a more efficient loan process.
To qualify for the SBAExpress program, Haverhill Bank was required to meet certain criteria, which included limits regarding the size and type of businesses eligible for the use of SBAExpress loans and the use of loan funds. |
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HAVERHILL, Mass. — For the first time, occupants of the Ward Hill Business Park and nearby residents have a nearby automated teller machine (ATM). Haverhill Bank opened the drive-up ATM this month at 38 Shelley Road, near BJ’s Wholesale Club.
The new machine enables users to review account balances and withdrawal funds from the remote location.
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| Haverhill Bank drve-up ATM, located near BJ's Wholesale Club in the Ward Hill Business Park |
“As more retail stores move into the park, more shoppers are going to need access to their money. This new ATM makes banking more convenient because of its central location and because it provides users with an opportunity to bank 24 hours-a-day, seven days-a-week,” said Thomas R. Faulkner, president of Haverhill Bank.
The Ward Hill Business Park is home to many businesses such as American Red Cross, Kraft Foods, Pepsi-Cola, BJ’s Wholesale Club and Cedar’s Mediterranean Foods. The new Whittier Rehabilitation Hospital is also scheduled to open in the park in spring 2008.
The bank currently operates one or more ATMs at each of its three locations throughout Haverhill. |
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HAVERHILL, Mass. — Haverhill Bank is honoring Home Health VNA on its “Civic Spotlight” Web page. The organization provides comprehensive assistance though programs such as nursing, rehabilitation, intravenous therapy, maternal and child health, mental health and home care aide services.
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| Home Health VNA of Haverhill provides the community with home-based child health services. |
The not-for-profit agency provides medical and supportive care to more than 2,500 patients on any given day and services more than 80 cities and towns throughout the Merrimack Valley, northeastern Mass. and southern N.H. Home Health VNA is one of three Home Health Foundation agencies.
“Thanks to the dedication and commitment demonstrated by the agency’s staff, many local individuals and families are experiencing a better quality of life. Home Heath VNA is actively making a difference. Haverhill Bank is proud to associate with an organization that reaches out to so many people and truly makes an impact in the community,” said Thomas R. Faulkner, president of Haverhill Bank.
Home Health VNA has previously been a recipient of the Haverhill Bank's monthly donations. The bank is honored to support an organization that puts forth such an effort to improve the lives of local residents, said Faulkner.
Each quarter the Civic Spotlight page on the Haverhill Bank Web site honors one local organization for their efforts to help community residents inprove their lives. Visitors to www.haverhillbank.com may use this online feature to learn more about a selected organization.
The Civic Spotlight page tells of the history of the agency and offers readers an inside look at the services it provides the community though real-life stories and memories told by the agencies nurses and staff.
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HAVERHILL, Mass.— Timothy J. Menzie of Haverhill won a new 26 inch LCD television and home theater system during Haverhill Bank’s free holiday raffle.
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| Haverhill Bank President Thomas R. Faulkner congratulates Timothy J. Menzie of Haverhill afther Menzie was announced as the winner of the bank's holiday giveaway. |
Menzie, of Haverhill, received the prizes December 19 and said he plans to assemble the set in his family room to share with his family.
“At first, when I got the phone call, I thought it was a friend playing a joke on me. When I found out it was real I was shocked. I didn’t expect to win such a big prize,” Menzie said.
“One of the great things about a community bank is the ability to interact with customers on a more personal level. It is a privilege for me to personally introduce myself to one of the many individuals who make Haverhill Bank a success, and to present him with a token of the bank’s gratitude,” said Thomas R. Faulkner, president of Haverhill Bank.
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| Haverhill Bank President Thomas R. Faulkner, Branch Managers Maria A. Karcasinas and Deborah A. Flanagan and Customer Service Representative Sandra Bradwell picked the winning ticket from the entry box on December 16. |
The free contest, sponsored by Haverhill Bank, ran throughout the month of December and was open to both customers and non-customers. The winner was drawn at random by the bank’s president.
Menzie attends Northern Essex Community College and is studying business management. He is a graduate of Whittier Regional Vocational Technical High School. The 18-year-old currently resides with parents Robert J. Menzie and Maureen E. Menzie.
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HAVERHILL, Mass.—Henry T. DiBurro was elected chairman of the board of directors at Haverhill Bank’s November board meeting.
On November 20, DiBurro succeeded Hartley R. Cranton as chairman of the board. In his new role he will provide support to bank management and preside over board meetings. He will also maintain his duties as a member of the Investment Board and Nominating Committee. DiBurro has served as a member of the board for more than 30 years.
“The bank is in the midst of a merger with Northeast Community Credit Union. As I played an instrumental role in bringing the two institutions together, I have a vested interest in this merger. I plan to do all I can to make it happen,” DiBurro replied when asked what he hopes to achieve while sitting as chairman.
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| Henry DiBurro |
Born and raised in Haverhill, DiBurro understands the importance of community. He has held leadership positions with the American Red Cross, Work Activities Center and Northern Essex Community College. He is also a past chairman of the Greater Haverhill Chamber of Commerce.
“Henry DiBurro’s commitment to the community is unmatched. His experience enables him to regularly identify new opportunities for the bank to give back to the community. This new position allows him to lead others and encourage both bank employees and depositors to become more involved,” said Thomas R. Faulkner, president of Haverhill Bank.
Before retiring in 1996, DiBurro served as president of DiBurro’s Function Facility in Ward Hill, Mass. and Silpatro Realty Company in Haverhill. He also served six years in the Army Reserves. DiBurro received an associate degree in accounting from Northern Essex Community College.
DiBurro currently resides in Atkinson, N.H. with his wife JoAnn. He has three children and four grandchildren.
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HAVERHILL, Mass. — Charlene D. Laprel was named Volunteer of the Year by Career Resources Corporation (CRC) of Haverhill at the organization’s 2007 annual meeting in October, in appreciation of her fundraising efforts.
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| Bradley Howell, executive director at Career Resources Corporation, presents Charlene Laprel with the 2007 Volunteer of the Year award. |
Laprel has been involved with CRC for close to 20 years. A member of the all-volunteer board of directors, she oversees all fundraising efforts, including the annual auction held each year.
“Charlene is an important component of the organization. Without her expertise in fundraising we wouldn’t be where we are now. Thanks to her we also have established a great partnership with Haverhill Bank. The bank truly supports Charlene and all of her efforts,” said Bonnie A. Michaleas, director of human resources at CRC.
Laprel serves as vice president of bank administration and marketing at Haverhill Bank. She currently resides in Haverhill with her husband.
“The bank offers overwhelming support for what I do at CRC. With their financial resources and the time willingly donated by other bank employees, I am able to achieve so much more than any one person could alone,” said Laprel.
CRC also presented awards to program participants Toni A. Quimby and Donald Tellier in recognition of outstanding community involvement through work and volunteerism as Man and Woman of the Year, Michael Conneely and Mags Conneely for community involvement through the sponsorship of a golf tournament that donated the proceeds to CRC and various employees of CRC for their longevity and outstanding work.
CRC helps participants with disabilities to explore career options, identify opportunities and obtain paid employment. The organization supports 250 individuals from the Greater Haverhill area. It has been in existence for 39 years and receives funding from the Commonwealth of Massachusetts. |
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HAVERHILL, Mass. — The Young Woman’s Club of America (YWCA) Haverhill received a donation of $1,000 in August. The donation was made by the Federal Home Loan Bank of Boston on behalf of Haverhill Bank.
The donation was made possible by the Grants for New England Partnerships program (GNP) and will be used to purchase materials for the General Education Development (GED) program offered at the YWCA.
“These donations are important because they hlp us to continue to offer GED classes for free. We really appreciate the support,” said Kieran Fallon, executive director of YWCA Haverhill.
The free GED program is offered to men and women ages 16 to 21 who did not complete their high school education. Students learn life skills, participate in case management activities and receive job development training. The program specifically reaches out to young mothers who must remain enrolled in certain education programs to receive benefits.
The GNP program promotes the importance of establishing partnerships between membership institutions and nonprofit organizations in the community by awarding grants to be distributed to an institution’s nonprofit organization of choice. In 2006, $18,000 was awarded through the GNP program.
Haverhill Bank became eligible for participation in the program when it submitted its first successful application to the housing department’s Affordable Housing Program.
The YWCA is the largest and oldest, multicultural women’s club in America. The group strives to eliminate racism and empower women by providing a safe environment for women of all ages to grow. The club offers services such as housing and shelter programs, child care, health and fitness equipment and programs for youths and teens. |
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HAVERHILL, Mass. — Thomas O. Faulkner and Kelly C. Quevillon recently received promotions at Haverhill Bank.
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| Thomas O. Faulkner |
Faulkner and Quevillon both have been named assistant vice presidents. Faulkner’s new responsibilities include commercial and residential lending and underwriting. He will also continue his duties as a business development officer. Quevillon implements system enhancements, participates in the development and testing of new products and works with the bank’s service bureau to maintain efficient operations.
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| Kelly C. Quevillon |
Faulkner has worked in the banking industry for more than nine years. He received a bachelor’s degree in finance and economics from Babson College in Wellesley, Mass. Faulkner resides in Salem, N.H. with his wife and daughter.
Quevillon has worked at Haverhill Bank for more than 18 years. She attended St. Michael’s College of Vt. and the American Institute of Banking. Quevillon resides in Sandown, N.H. with her husband and two daughters.
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HAVERHILL, Mass. — Haverhill Bank is honoring the Winnekenni Castle Foundation Inc. on the Civic Spotlight page of its Web site.
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| Children learn how to build kites on the grounds of Winnekenni Castle. |
The Winnekenni Foundation sponsors a variety of activities for the community throughout the year, providing local families with a nurturing environment in which to learn and grow. The Civic Spotlight page tells of the history of the castle, the restoration by the foundation and the many activities it hosts today.
“Every community should have a place where people can gather with friends and family and enjoy each other’s company. Thanks to the Winnekenni Foundation, Haverhill residents have the opportunity to take part in a calendar of activities that are both educational and fun,” said Thomas R. Faulkner, president of Haverhill Bank.
In an ongoing effort to give back to the community, Haverhill Bank has made a donation to the foundation. The bank is proud to support an organization that has such a positive impact on the lives of local residents, said Faulkner.
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HAVERHILL, Mass. — Seeking to expand and improve upon financial services for area residents, Haverhill Bank and Northeast Community Credit Union today announced plans to merge the two institutions under the name of Haverhill Bank. The merger requires approval by members, depositors and regulators.
Under state law, the resulting institution will be chartered as a bank and will have the second largest market share in Haverhill. Haverhill Bank remains the oldest cooperative bank in Massachusetts. Haverhill Bank President Thomas R. Faulkner will serve as chairman and chief executive officer and Northeast Community Credit Union Treasurer and CEO Peter L. Di Benedetto will serve as president and chief operating officer.
“In this age of national bank mega-mergers, this union of two long-standing and respected local mutual institutions provides the greatest opportunity for improved services and choice for Greater Haverhill residents,” said Faulkner. No layoffs are proposed and all branches will remain open after the merger, he said, explaining that efficiencies will come in the areas of information technology, insurance, auditing expense and other operating expenses.
DiBenedetto said, “We’ve continued to grow steadily since 1934 while maintaining a strong capital base. When we looked at what we wanted to be able to offer our members in the future, it made sense to combine our efforts with an institution that has similar values and is also coming from a position of strength.”
The new bank will have combined assets of approximately $260 million, deposits of $220 million and capital of $30 million, thereby enabling the ability to offer larger loans than either of the separate institutions may now provide. Despite their different charters, Northeast Community Credit Union and Haverhill Bank are very similar organizations. Both are owned by their depositors or members and have deep roots in the community. “We believe the combined institution will be better able to serve the future financial needs of our customers and the entire Greater Haverhill community,” he said.
Haverhill Bank maintains offices at 180 Merrimack St., 163 South Main St. and 1094 Main St. Northeast Community Credit Union has locations at 100 Lafayette Square, 20 Cushing Avenue and Haverhill High School. Together, the institutions employ about 85 staff.
Mergers of credit unions with banks are rare, but have taken place. While the statute permitting mergers between credit unions and banks has been in effect for a number of years, management is not aware of any previous mergers of a credit union and bank in the Commonwealth of Massachusetts.
Faulkner and Di Benedetto expect the merger will be completed at the end of the year, pending receipt of regulatory approvals.
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Haverhill Bank employee Alison Hall recently received a diploma from the Center for Financial Training of Connecticut. Hall gained practical banking knowledge that will allow her to offer a higher quality of service to bank customers.
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| Alison Hall |
Hall received a diploma for General Financial Services and a certificate for Introduction to Financial Services.
“In the long run, having that knowledge aids me in all aspects of my job, from customer service, to banking regulations, to doing my job more efficiently. It will help both my customers and my co-workers,” says Hall of her experience.
In an ongoing effort to better provide for its customers, Haverhill Bank offers tuition reimbursement for employees seeking additional knowledge related to banking.
Hall is a mortgage servicing specialist at Haverhill Bank. She has been with the bank since 2003. Hall, a Haverhill resident, is the daughter of David and Patricia Hall. |
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Haverhill Bank puts the spotlight on the Discovery Club, an after school program which keeps 450 Haverhill students busy and safe after school.
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| Raven Rivera, 11, and Jalexis Alverado, 10, work with Susan Blinn, an art teacher, on putting together a collage in the Discovery Club after school program at Silver Hill School. |
In the Discovery Club enrichment program, children are kept busy until 5 p.m. exploring the joys of learning through doing. They also are served nourishing snacks and receive after school help with homework.
In its ongoing commitment to worthwhile community programs, Haverhill Bank donated money to the Discovery Club.
At its heart, Haverhill Bank is above all a community bank, which is why the bank is happy to support Discovery Club, said Thomas R. Faulkner, president of Haverhill Bank.
“Discovery Club is a great program. It helps keep children busy and safe after school. And, the extra academic help they receive is an added benefit,” said Faulkner
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Understanding customers’ financial life cycles and adapting services to meet those changing needs was the message two Haverhill Bank executives took away recently from a national conference.
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| Charlene Laprel |
Charlene Laprel, Vice President of Branch Administration and Marketing, and Kelly C. Quevillon, Operations Manager, recently attended a three day national seminar in Florida presented by America’s Community Bankers. Topics included the top services small businesses seek and how to deliver them, and recognizing how customers’ needs change over time between childhood and adulthood. The information will help enhance the service provided by staff at all three bank locations.
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| Kelly C. Quevillon |
“Personal service is so important to customers at Haverhill Bank, which is above all, a community bank. We came back with some new ideas to share about adjusting products and services to better meet the changing needs of customers,” said Laprel.
Seminars at the ABC Sales and Marketing Conference included sessions on new business products needed in today’s busy world and how to help customers reach their financial goals from their first account to retirement.
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This quarter, Haverhill Bank turns the Civic Spotlight of its Website on Haverhill YMCA, which recently completed a year long $8 million expansion.
A major supporter of Haverhill’s YMCA programs, Haverhill Bank has donated both money and its employees’ time and expertise to the organization’s programs.
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| Haverhill YMCA |
“Serving on the Haverhill Y’s board is a particular honor for me as both a local banker and a community resident,” Haverhill Bank President Thomas R. Faulkner said. “Helping to raise the money for the expansion and then to see it completed, is deeply satisfying. I am so pleased that future generations will have a wonderful YMCA to enjoy for years to come.”
The newly expanded YMCA features a brand new work out room, new climbing gym, new gymnastic equipment and improvements to the pool and locker rooms. A key part of the expansion was the addition of new and improved affordable housing on the top two floors.
To learn more about the newly renovated YMCA, visit the Haverhill Bank Web site at www.haverhillbank.com
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Two Haverhill Bank executives now offer customers more expertise in commercial loans.
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| Thomas O. Faulkner |
Thomas O. Faulkner, loan and business development officer, and Janet F. Odenwelder, assistant vice president/Business Development, both completed a week long program at the School of Commercial Lending at Babson College, through the Center for Executive Education.
The School of Lending uses real life case studies to help those who attend gain a better understanding of how businesses operate today and the challenges businesses face in the marketplace.
“The presentation of case studies of actual businesses was extremely interesting. It gave me new ideas and better solutions for my customers,” said Faulkner.
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| Janet F. Odenwelder |
“Helping small business succeed requires understanding the challenges small businesses face today. This insight helps me help the customer,” said Odenwelder.
Some of the topics covered included market forces that businesses face today; the various components of a successful business, including asset mix, financing requirements and how to develop a full commercial loan package for a business customer.
The week long class was offered through the Massachusetts Bankers Association. Continuing education for staff is part of Haverhill Bank’s commitment to better serve its customers.
Faulkner and Odenwelder both reside in Haverhill.
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Haverhill Bank mortgage customers have an advantage in applying for a mortgage because of the bank’s commitment to continuing education for its staff.
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| Anita M. Purcell |
Haverhill Bank Vice President Anita M. Purcell recently finished an advanced mortgage banking course. Purcell is vice president of lending. She oversees the sales and service of mortgages, including construction loans, home equity loans, second mortgages and auto loans.
“Mortgages are a very complicated business for both the bank and the customer. The constantly changing and complex real estate market makes this series of courses invaluable,” Purcell said.
There are so many mortgage products in the marketplace today. A course of this type helps Haverhill Bank staff better understand the changing real estate market. It helps the bank to develop new products that best serve the customer.
The class Purcell completed was Course III – Advanced Mortgage Banking: Principles of the Secondary Market. It was offered by the Massachusetts Mortgage Bankers Association.
It is the third part of the Management Development Programs in Residential Lending offered by MMBA. The course is offered in conjunction with Northeastern University.
After completion of all three courses, participants have a comprehensive knowledge of the latest trends in the lending industry.
Certification from Northeastern University is given to students who successfully complete the three courses of the Management Development Program in Residential Lending.
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© 2009 Haverhill Bank • All rights reserved • Member FDIC • Member SIF • Equal Housing Lender |
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