5 Things, July 30: Local Bank with Branch in Stoughton Announces Plans for Merger
Five Things You Need to Know Today: Eastern Bank Merging with Community Bank; Stoughton Public Library Summer Reading Activities; Bigger, Faster, Stronger; and more...
"Five Things you Need to Know Today" is a Patch column that provides readers with essential, daily information at a glance.
1. Eastern Bank Merging with Community Bank
The following is from a press release from Eastern Bank:
Eastern Bank and The Community Bank plan to merge by year’s end, combining their resources and building upon Eastern’s financial strength to better serve the people and businesses in southeastern Massachusetts and Cape Cod, the banks announced in a press release on Friday.
If approved by state and federal regulators, The Community Bank, which is headquartered in Brockton, would be merged into Eastern Bank by the end of the year. The Corporators of both banks and their holding companies, Eastern Bank Corporation and Campello Bancorp, also need to approve the merger.
Eastern Bank has 94 banking offices in eastern Massachusetts (including one in Stoughton on Washington St.), in addition to 22 Eastern Insurance offices. It has $8 billion in assets, $6.5 billion in deposits and 1,700 employees serving more than 400,000 customers with an array of banking, investment and insurance products and services. Eastern Bank donates 10 percent of its net income to the Eastern Bank Charitable Foundation, which, in 2011, donated $2.6 million to 1,200 local charities.
Founded in 1877, The Community Bank has five branches, including two in Brockton and one each in Bridgewater, Lakeville and Sandwich. As of June 30, it had $323.9 million in assets and $278.3 million in deposits. Last year, newly appointed President and CEO John J. O’Connor III implemented a restructuring plan, which included the closure of three branches, to stabilize the bank.
2. Stoughton Public Library Summer Reading Activities
- 10 a.m. - Arts in the Park with Magician Greg McAdams (held at the South School playground; no registration necessary).
- 2 p.m. - Hip Hop Lessons (at the Stoughton Public Library; ages 7-11; pre-registration required)
- 5:30-6:30 p.m. - Zumba Dance Class (at the Stoughton Public Library; ages 11-17; pre-registration required)
3. Bigger, Faster, Stronger
The Stoughton High Athletic Department (with help from the Prone Family Foundation) will be offering its athletes structured and supervised "Bigger Faster Stronger" workouts every Monday, Wednesday and Friday over the course of the summer as students prepare for the fall sports season and 2012-2013 school year.
Students will have the option to attend workouts in the recently renovated weightlifting room on Monday and Wednesdays from 8-10 a.m. and 10-12 p.m., as well as 4-6 p.m. for the students that have to work during the day. The facility will be open from 8-10 a.m. and 10-12 p.m. on Fridays.
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