The company has agreed to pay $89 million for Premier Commercial Bancorp. The acquisition would significantly increase its branch presence and lending in the Portland area.
The nonprofit is turning to banks and social impact investors to support a newly created fund designed to significantly increase the size of its loan portfolio over five years.
The bank will spend an additional $1.4 billion on technology in 2018 to gain share and boost efficiency, executives said Tuesday. But they were peppered with questions about whether the big investment will yield a big financial return down the road.
The Boston mutual, which lost its innovation team when it spun off Numerated last year, has hired a State Street executive to oversee a plan to encourage all employees to be more creative.
