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Eastern News - Page 2

Wells Fargo Announces New Structure for Its International Business

January 23 – Seeking to better align its international banking services with the customers they serve, Wells Fargo & Company has announced that its International Group will be integrated into other Wholesale Banking business lines, enhancing how they serve middle market, corporate and financial institution customers doing business globally.


People’s United Bank Teams with AARP to Raise Awareness of Consumer Scams

January 16 – A unique educational collaboration has been announced between the AARP Fraud Watch Network and People’s United Bank, N.A., with the goal of better protecting consumers in the northeast against fraud and scams.


OneUnited Bank Launches #BankBlack Financial Literacy Video Series

January 16 – OneUnited Bank, the largest black-owned bank in America, has partnered with the African American Film Critics Association (AAFCA) and BMe Community (BMe) to bring a powerful series of financial literacy videos to Black America that will underscore the importance of financial literacy, buying Black, banking Black and the genius of collective economics. Topics will include the importance of saving for the future, how to power up your credit score, millennials and money, banking based on your values and how the #BankBlack and #BuyBlack movement can create jobs and support community development.


StonehamBank Uses ZRent to Automate Rent Payments

January 6 – StonehamBank joins ZRent’s network of financial institutions to provide online rent collection services to their landlord and small business customers.

ZRent (, a division of Leader Bank, is proud to welcome StonehamBank to its expanding network of financial institutions. ZRent allows financial institutions to provide online rent collection services to their landlord and small business customers, creating competitive advantage and customer loyalty for participating institutions. This new partnership will allow StonehamBank customers to take full advantage of

ZRent services, enabling landlords and tenants to fully automate the rental payment process. “We are very excited to enter into this partnership with StonehamBank. We look forward to bringing all the benefits of ZRent to their customers,” said Jay Tuli, the Senior Vice President of Retail Banking at Leader Bank. “We hope that ZRent can continue to help automate rent payments for community banks and their customers.”

“We are committed to offering innovative services to our customers, ZRent is another great example of services we provide to our customers evolving needs,” said Edward Doherty, Jr., Executive Vice President of StonehamBank. “ZRent offers a simple and convenient solution that provides real value to our customers looking to efficiently manage their rent collection.”

ZRent works by automatically deducting rent payments from the tenant’s bank account and depositing them
directly into the landlord’s account. Tenants can set and forget their monthly payments, and landlords will no longer have the hassle of collecting checks and making the trip to the bank. ZRent also provides peace of mind for the landlords, who will now receive one complete payment for each unit on the same day every month. ZRent is free of charge for any landlord that banks with one of the participating institutions, currently StonehamBank and Leader Bank.

For more information on Leader Bank’s innovative ZRent tool, visit, email, or
call 781-641-8691.

About StonehamBank
StonehamBank is a full-service community bank offering state of the art products and services to residents and businesses throughout eastern Massachusetts and southern New Hampshire. In addition to providing progressive products and convenience services, StonehamBank believes in making a difference in the community through its Community Involvement Program and Charitable Foundation. Member FDIC. Member SIF. Equal Housing Lender. For more information on StonehamBank, please visit or call directly at 888-402-2265.

About Leader Bank
With assets over $1 billion, Leader Bank is a nationally chartered bank founded in 2002 with seven full-service branches in Arlington, Belmont, Boston, Burlington and Cambridge. Leader Bank offers a full range of personal and business banking products including free personal and business checking accounts, commercial and residential lending products, home equity lines of credit, deposit products with highly competitive rates and free online banking and bill payment services. Visit Leader Bank’s website at or any one of the Bank’s convenient branch locations for more information. Member FDIC and Equal Housing Lender, NMLS # 449250.

The Importance of Community Service and Volunteerism

January 6 – Todd Hurley, chief relationship officer of Penn Community Bank, recently participated on a panel discussion regarding volunteerism and community service as part of the leadership program Launch Pad, presented in partnership with Bucks County Community College and the Bucks County-based women’s empowerment organization, Sisters U.


MVB Bank Selects Jack Henry Banking’s SilverLake System

January 6 – Jack Henry & Associates, Inc. is a leading provider of technology solutions and payment processing services primarily for the financial services industry. Today, its Jack Henry Banking division announced that MVB Bank has selected the SilverLake System for enterprise-wide automation. The bank will implement the core processing system through JHA OutLink Processing Services (JHA OPS), Jack Henry Banking’s outsourced offering.


The First Bancshares Acquires Iberville Bank and Gulf Coast Community Bank

January 6 –  The First Bancshares, Inc., holding company for The First, A National Banking Association, ( has acquired Gulf Coast Community Bank, based in Pensacola, FL and Iberville Bank, based in Plaquemine, LA.


Flushing Bank Joins Forces with Island Harvest Food Bank and Food Bank For New York City to Collect Non-Perishable Food Item Donations

December 12 – Flushing Financial Corporation (the “Company”), the parent holding company for Flushing Bank (the “Bank”), has announced that the Bank has joined forces with Island Harvest Food Bank and Food Bank For New York City to collect non-perishable food item donations during December at all of its branch locations. As a small token of appreciation, everyone who donates will receive an eco-friendly, reusable tote bag from Flushing Bank.  The announcement was made by John R. Buran, President and Chief Executive Officer.


People’s United Bank to Manage Core Banking Services for the Commonwealth of Massachusetts

December 12 – People’s United Bank, N.A., a subsidiary of People’s United Financial, Inc., has been selected to manage the Commonwealth’s core banking services. The award is pending successful contract negotiations with the Commonwealth. Implementation and service changes are expected to roll out during the first quarter of 2017.


Popular Community Bank Continues to Unveil Digitally Enhanced Branches

December 8 – Popular Community Bank, a subsidiary of Popular, Inc., and one of the nation’s premier community banks, has announced the continuation of its Retail Network Transformation initiative with the newly digitally transformed Popular Community Bank branch in East Harlem, New York City.


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