WESTFIELD, Mass.--(BUSINESS WIRE)--
Westfield Bank (the "Bank"), a wholly owned subsidiary of Westfield
Financial, Inc. (NasdaqGS:WFD), announced its plan to expand its
commercial lending presence in the western Massachusetts and northern
Connecticut market areas. The Bank entered into a lease for space on the
23rd floor of Tower Square located at 1500 Main Street in downtown
Springfield, Massachusetts. Led by the Bank's EVP and Senior Lender,
Allen Miles, the Tower Square location will become the Bank's commercial
lending hub for its middle market and commercial real estate lending
team. The Bank's small business and community development team, led by
Thomas Cebula, will remain at the Bank's headquarters in Westfield,
Massachusetts. President and CEO James Hagan stated, "We are very
excited for the potential opportunities that the Tower Square location
provides the Bank and our lending team. It's been part of our strategic
initiatives to develop a stronger commercial lending presence in
Springfield and northern Connecticut." EVP Miles went on to note that,
"Since opening our first banking center in Granby, Connecticut a year
ago, we have seen a notable increase in commercial loan activity coming
from across northern Connecticut. Locating the team in Springfield will
give us a stronger physical presence near centers of influence in
western Massachusetts and improve our reach into both the central
Massachusetts and northern Connecticut market areas."
The Bank currently has a full-service branch and its cash management
team located on the first floor of Tower Square. The move is expected to
occur over the next couple of months, with a team of seven employees in
place by late August.
About Westfield Financial and Westfield Bank
Westfield Financial, Inc. is a Massachusetts-chartered stock holding
company and the parent company of Westfield Bank, Elm Street Securities
Corporation, WFD Securities, Inc. and WB Real Estate Holdings, LLC.
Westfield Financial and its subsidiaries are headquartered in Westfield,
Massachusetts and operate through 12 full-service banking offices
located in Agawam, East Longmeadow, Feeding Hills, Holyoke, Southwick,
Springfield, West Springfield and Westfield, Massachusetts and Granby,
Connecticut, and one Residential Loan Center in western Massachusetts.
Westfield Bank is a full-service community bank offering the products,
services and conveniences of a big bank in a local and personalized way.
Westfield Bank is able to meet the needs of retail banking customers
from childhood to retirement, and business customers small and large.
Westfield Bank is accessible 24-7 online at www.westfieldbank.com
or by calling 413-568-1911 or 800-995-5734.
To the extent that statements contained in this press release are not
descriptions of historical facts regarding Westfield Financial, Inc. or
the Bank, they are forward-looking statements reflecting the current
beliefs and expectations of management made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995.
Words such as "may," "will," "expect," "anticipate," "estimate,"
"intend," and similar expressions (as well as other words or expressions
referencing future events, conditions or circumstances) are intended to
identify forward-looking statements. Forward-looking statements
contained in this press release include, among others, expectations on
timing of the opening of the new location. We undertake no obligation to
update or revise any forward-looking statements. For a further
description of the risks and uncertainties relating to the business of
the company in general, see the "Risk Factors" section of our Annual
Report on Form 10-K for the year ended December 31, 2013, and in
subsequent filings with the Securities and Exchange Commission.
Source: Westfield Financial, Inc.