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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—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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HHAVERHILL—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—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—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—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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© 2008 Haverhill Bank • All rights reserved • Member FDIC • Member SIF • Equal Housing Lender |
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