Westfield Bank Announces Planned Expansion into Connecticut
WESTFIELD, Mass.--(BUSINESS WIRE)-- Westfield Bank (the "Bank"), a wholly owned subsidiary of Westfield Financial, Inc. (NasdaqGS:WFD) announces plans today for expansion into Connecticut. The Bank plans to open a full service banking center with branch services, a 24 hour deposit imaging ATM, Residential Lender and Commercial Lender at the Granby Village Shops, 10 Hartford Ave., in Granby, CT. It is anticipated that the banking center open within the next couple of months, its first location outside of western Massachusetts. James C. Hagan, Westfield Bank President and CEO, stated that "We're excited to expand our presence into Connecticut. Granby provides us with a solid base to reach a broad range of consumer and businesses for their deposit and borrowing needs."
Thomas Glynn, a long-time residential lender in the northern Connecticut market area, will be a key lender for Westfield Bank in the new location. (Photo: Business Wire)
The Bank is in the process of obtaining the necessary local and regulatory approvals for the banking center and will announce a formal opening date upon completion. The Bank has already hired one of its key lenders for the new location. Thomas Glynn, a long-time residential lender in the northern Connecticut market area, joined the Bank in late fall of 2012. Hagan stated "Tom Glynn has expertise in the Farmington Valley of Connecticut." He added, "We're pleased Tom accepted our offer to join Westfield Bank and to be a key player in our expansion strategy." The Bank is conducting a search for a Commercial Lender and Branch Manager with ties to Granby and the northern Connecticut region for the new location.
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 11 full-service banking offices in Agawam, East Longmeadow, Feeding Hills, Holyoke, Southwick, Springfield, West Springfield and Westfield, Massachusetts 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.
Westfield Financial, Inc. wishes to caution readers 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 our Annual Report on Form 10-K for the year ended December 31, 2011, and in subsequent filings with the Securities and Exchange Commission. Westfield Financial, Inc. and the 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.
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Westfield Financial, Inc.
James C. Hagan, President & CEO
Leo R. Sagan, Jr., CFO
KEYWORDS: United States North America Connecticut Massachusetts
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