Westfield, MA — James C. Hagan, President and CEO of Westfield Bank, a wholly-owned subsidiary of Western New England Bancorp, Inc. (NasdaqGS: WNEB), is pleased to announce that the Bank’s new Bloomfield, CT branch office has officially opened.
The new Bloomfield branch office is located at 337 Cottage Grove Road in the Copaco Shopping Center. The full-service office is open seven days a week and features lobby and safe deposit services, an image technology ATM, and multiple drive-through teller lanes for added customer convenience. The new office will be managed by Lindsay C. Allen, a Bloomfield resident who previously held branch management roles at both Windsor Federal Savings and Bank of America.
Special promotional offers and events are planned to celebrate the opening of the new Bloomfield office as well as the Bank’s new West Hartford Financial Services Center which is scheduled to open in late July. Information regarding those activities will be communicated to the public in the coming days and weeks. For more information, please visit: www.westfieldbank.com/new-ct-offices
The opening of the new Bloomfield branch office will be followed by the launch of a new Financial Services Center at 977 Farmington Avenue in downtown West Hartford. In addition to a full-service branch, the West Hartford Financial Services Center will include a suite of offices for Residential Lending, Commercial Lending, and Business & Government Deposit Services. The new Financial Services Center is expected to open in mid- to late July.
“I am happy to announce that our new Bloomfield office is officially open,” said Mr. Hagan. “Combined with our new West Hartford Financial Services Center scheduled to open in the next few weeks, we are excited to expand deeper into Connecticut and serve the greater Hartford market. Both of our new locations will offer the deposit, lending, and technology solutions our customers need, and we’re confident that our community bank values and customer-first approach will be a great fit.”
The two new offices will represent the Bank’s twenty-fourth and twenty-fifth branch offices and are part of the organization’s strategic expansion into Connecticut, which began with the opening of its Granby and Enfield branch offices in 2013 and 2014, respectively.
About Westfield Bank
Westfield Bank, headquartered in Westfield, Massachusetts, is a federally chartered savings bank organized in 1853 and is the largest publicly traded bank headquartered in western Massachusetts. The Bank is a full-service community-oriented financial institution offering a complete range of commercial and retail products and services. Currently the Bank has twenty-four branch offices, twenty-four freestanding ATMs, and an additional twenty-four seasonal ATMs and serves Hampden and Hampshire counties in western Massachusetts and Hartford and Tolland counties in northern Connecticut. The Bank’s middle market and commercial real estate lending team is based in Springfield, Massachusetts, and has a general regulatory limit on loans to one borrower of $33.4 million. As of March 31, 2020, the Bank employed 332 full and part time employees, had $2.2 billion in total assets, $1.8 billion in its loan portfolio, and $1.7 billion in total deposits. The Bank is regulated by the Office of the Comptroller of the Currency. As a member of the Federal Deposit Insurance Corporation (FDIC), the Bank’s deposits are insured up to the maximum FDIC insurance coverage limits.
This press release contains statements that are forward-looking and are made pursuant to the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Readers are cautioned not to place undue reliance on any such forward-looking statements contained in this press release, which speak only as of the date made. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors discussed under the caption “Risk Factors” in Western New England Bancorp’s Annual Report on Form 10-K for the year ended December 31, 2019. Western New England Bancorp and Westfield Bank do not undertake and specifically decline any obligation to publicly release the result of any revisions that may be made to any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.