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Rockland Trust buys Central Bank
May. 2nd, 2012 06:51 am![[identity profile]](https://www.dreamwidth.org/img/silk/identity/openid.png){kind=small}
somerfriend.livejournal.comA local bank is gone.
However if there was a bank to be sold, this would probably be it. I frequently hear about Cambridge Savings Bank funding local non profit development, and Winter Hill Bank and East Cambridge Bank funding local private development. I've never heard about Central Bank funding projects, but that is purely anecdotal.
And if there was a bank to buy it, Rockland Trust would be a good one. I do hear about them being good in local lending. I'm not informed beyond an anecdotal level to say for sure if it is a net gain or loss for us.
If Winter Hill Bank, ECSB and Cambridge Savings Bank were to be sold, the community would suffer as national and regional banks don't tend to fund local projects, so rejuvenation is harder. That is the real value of local banks. Though good customer service for retail checking and not having to go through hoops to avoid fees is nice too, there are other options for that.
However if there was a bank to be sold, this would probably be it. I frequently hear about Cambridge Savings Bank funding local non profit development, and Winter Hill Bank and East Cambridge Bank funding local private development. I've never heard about Central Bank funding projects, but that is purely anecdotal.
And if there was a bank to buy it, Rockland Trust would be a good one. I do hear about them being good in local lending. I'm not informed beyond an anecdotal level to say for sure if it is a net gain or loss for us.
If Winter Hill Bank, ECSB and Cambridge Savings Bank were to be sold, the community would suffer as national and regional banks don't tend to fund local projects, so rejuvenation is harder. That is the real value of local banks. Though good customer service for retail checking and not having to go through hoops to avoid fees is nice too, there are other options for that.
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