An “emergency merger” with the troubled Progressive Credit Union gives PenFed — already the nation’s third-largest credit union — the ability to welcome any potential member nationwide.
Bob Mahoney, CEO of Belmont Savings, called Jack Barnes after People's United agreed to buy a Connecticut bank. The banks announced their own merger agreement five months later.
New CEO John Turner hasn't fully laid out his vision for the future, but it clearly will involve hiring specialized lenders, balancing labor-saving AI with old-fashioned relationship building, and more streamlining.
James McLemore, one of our community bankers to watch in 2019, has more energy loans to purge and must exit the Small Business Lending fund and a BSA-related enforcement action.
HarborOne Bancorp — led by James Blake, one of our five community bankers to watch in 2019 — is a former credit union that recently made its first bank acquisition and has Boston and other markets in its sights.
