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Posts Tagged ‘Massachusetts’


Tuesday, October 28th, 2014

First Commons Bank of Newton, Mass., Reports 54% Gain in Year-to-Date Income vs. Year Ago

Continues to Increase Tier 1 Capital Ratio

First Commons Bank of Newton, Mass., today reported its results for the quarter ended September 30, 2014. Net Income for the quarter was $285 thousand compared to $110 thousand for the 3rd quarter of 2013. Year-to-date income for the period January 1 to September 30, 2014 was $973 thousand, compared to $631 thousand for the same period of 2013 — an increase of 54%. Net Income results for 2013 were impacted by Gains on Sale of Securities of $262 thousand, while 2014 results are all from banking operations.

The Bank’s Return on Average Assets for the nine-month period ended September 30, 2014 was 0.52%, compared to 0.37% for the nine-month period ended September 30, 2013. The Bank’s Tier 1 Capital to Asset Ratio also improved from the 8.91% reported as of September 30, 2013 to 9.46% as of September 30, 2014.

Tony Nuzzo, Chairman, President and CEO of First Commons Bank said, “We are pleased with our core earnings results, especially as we increased our Tier 1 Capital Ratio.  Earnings from Bank operations grew by over 50% for the first nine months of 2014, compared to the first nine months of 2013.”

Total Interest Income of $8.1 million increased by approximately $887 thousand, or 12.2%, for the nine-month period ended September 30, 2014 vs. 2013. Interest Expense of $1.7 million increased by approximately $298 thousand, or 21.4%, for the nine months ended September 30, 2014 vs. 2013. The Bank’s Net Interest Margin of $6.5 million as of September 30, 2014 represents an increase of $589 thousand, or 10.0% over the nine-month period ended September 30, 2013. Noninterest operating expenses increased by approximately $167 thousand, or 3.50%, for the nine month-period ended September 30, 2014 compared to the nine-month period ended September 30, 2013. Book value of the Bank’s common stock as of September 30, 2014 was $9.40.

Mr. Nuzzo further commented, “We are also pleased that our ratio of non-performing loans to total loans remains at 0.00% as of September 30, 2014, and we still do not have a loan that is more than 60 days past due.”

First Commons Bank’s financial results are available on the FDIC’s Web site at http://goo.gl/f9mpZR.

About First Commons Bank

First Commons Bank, N.A., is a nationally chartered, FDIC-insured Full-service community bank dedicated to serving the businesses and individuals of Newton, Wellesley, Waltham, and eastern Massachusetts. The bank opened for business on July 22, 2009. Locations include its headquarters at 718 Beacon Street in Newton Centre, Mass., and 161 Linden Square in Wellesley, Mass. Visit the First Commons Bank website at http://www.firstcommonsbank.com Follow the bank of Facebook at http://facebook.com/firstcommonsbank and on Twitter at http://twitter.com/firstcommonsbnk.


Friday, January 24th, 2014

First Commons Bank Grows to a $262 Million Institution in Only 53 Months; Net Loans Up 26%

— Delivers over $900,000 in 2013 Net Income —

 NEWTON, MASS. — January 24, 2014 — First Commons Bank of Newton, Mass., today reported that it achieved a Total Asset level of $262,549,000 as of December 31, 2013, after only 53 months of operation. Total assets grew by approximately $53 million, or 25.9 percent, for the 12-month period ended December 31, 2013. Net loans increased by $47 million, or 26 percent, for the same 12-month period. First Commons Bank’s assets have now surpassed the assets of more than 4,400 other banks — or more than 64 percent of the 6,828 FDIC-insured banks which filed FDIC call reports for the period ended September 30, 2013.

“We are pleased with our continued growth, our increasing ongoing profitability, and the continued absence of any nonperforming loans.  Further, we are proud that after only 41/2 years in business, we delivered over $900,000 in net income from continuing operations in 2013,” said Tony Nuzzo, Chairman, President, and CEO of First Commons Bank.

Net income for the 12-month period ended December 31, 2013 was $909,000, compared to $2.9 million for the 12-month period ended December 31, 3012. The December 2012 results were favorably impacted by the recovery of a deferred tax asset in the amount of $2.5 million. Excluding the tax recovery, Net Income for the 12-month period ended December 31, 2012 would have been approximately $397,000, compared to the $909,000 reported for the 12-month period ended December 31, 2013.

Total Interest Income increased by approximately $2.0 million, or 24 percent, for the 12 months ended December 31, 2013 versus 2012. Interest Expense increased by approximately $260,000 or 15 percent for the 12 months ended December 31, 2013 versus the 12 months ended December 31, 2012. Noninterest operating expenses increased by approximately $396,000 or 6.6 percent for the 12-month period ended December 31, 2013 compared to the 12-month period ended December 31, 2012.

First Commons Bank’s financial results are available on the FDIC’s Web site at: http://goo.gl/QJhSzM.

About First Commons Bank

First Commons Bank, N.A., is a nationally chartered, FDIC-insured full-service community bank, dedicated to serving the businesses and individuals of Newton, Wellesley, Waltham, and eastern Massachusetts. The bank, which opened for business on July 22, 2009, reported total assets of $262,549,000 as of December 31, 2013 — after only 53 months of operation — making it larger than 64 percent of all FDIC-insured banks in the U.S. First Commons Bank locations include its headquarters at 718 Beacon St. in Newton Centre, Mass., and 161 Linden Square in Wellesley, Mass.

Visit First Commons Bank on the Web at http://www.firstcommonsbank.com. Follow the bank on Facebook at http://facebook.com/firstcommonsbank and on Twitter at http://twitter.com/firstcommonsbnk.


Monday, June 24th, 2013

First Commons Bank Sponsors Newton Race Series

NEWTON, MASS. — June 24, 2013 — First Commons Bank is once again a lead sponsor for the annual Newton Race Series developed by Fattman Productions. The three races in the series are: (1) The recently run Newton 10k to benefit the Dreamfar High School Marathon, a student marathon training program. Dreamfar was founded at Newton South. There are chapters at both Newton South and Newton North high schools; (2) The Bill’s Pizzeria 5k to benefit the Travis Roy Foundation to be held in October; and The Fattman Cup Chilly Half Marathon to benefit the American Liver Foundation to be held in November.

PHOTO: Oscar Moreno, Director of Branches and Business Banking for the bank, and Lena Chouljian, Newton Centre Branch Manager, presented the First Commons Bank annual sponsorship check of $3,500 to Kelly Fattman, Founder, Fattman Productions. The presentation took place on Friday, May 30, at the First Commons Bank Newton Centre branch at 718 Beacon Street.

This sponsorship represents the fourth consecutive year First Commons Bank supported the Newton Race Series.

About First Commons Bank

First Commons Bank, N.A., is a nationally chartered, FDIC-insured full-service community bank, dedicated to serving the businesses and individuals of Newton, Wellesley, Waltham, and eastern Massachusetts. The bank, which opened for business on July 22, 2009, reported total assets of $222,527,000 as of March 31, 2013 – after only 44 months of operation and making it larger than 59 percent of all FDIC-insured banks in the U.S.

First Commons Bank provides clients with superior, personalized service and the highest quality banking through its onsite management team, experienced staff members, a unique and welcoming branch environment, and advanced banking technologies. Of note: Tony Nuzzo, Chairman, President, and CEO, was named Financial Services Executive of the Year in the prestigious 2010 American Business Awards. First Commons Bank locations include its headquarters at 718 Beacon St. in Newton Centre, Mass., and 161 Linden Square, in Wellesley, Mass.

Visit First Commons Bank on the Web at http://www.firstcommonsbank.com. Follow the bank on Facebook at http://facebook.com/firstcommonsbank and on Twitter at http://twitter.com/firstcommonsbnk.

About Fattman Productions

Fattman Productions partners with companies and non-profits of all sizes to meet both short and long term goals. The firm’s expertise in all phases of strategic planning, marketing, promotions, and event planning enables Fattman Productions to build relationships that yield measurable results and enduring success. For more information, visit the Fattman Productions website at http://fattmanproductions.com.


Thursday, April 25th, 2013

First Commons Bank Grows to a $222 Million Institution in Only 44 Months; Net Loans up 33%

Now Profitable for Five Consecutive Quarters

NEWTON, MASS. — April 25, 2013 — First Commons Bank of Newton, Mass., today reported that it achieved a Total Asset level of $222,527,000 as of March 31, 2013, after only 44 months of operation. Total assets grew by approximately $40 million, or 22 percent, for the 12-month period ended March 31, 2013. Net loans increased by $49 million, or 33 percent, for the same 12-month period.

Net income for the three month period ended March 31, 2013, was $196,000, compared to $121,000 for the three month period ended March 31, 2012, representing a 61 percent increase. Each year’s net income had both operating profitability and gains on the sale of securities.

First Commons Bank’s assets have now surpassed the assets of more than 4,190 other banks – or more than 59 percent of the 7,040 FDIC-insured banks which filed FDIC call reports for the period ended December 31, 2012.

The Bank’s Net Interest Margin for the three month period ended March 31, 2013, was 3.52 percent compared to 3.46 percent for the three month period ended March 31, 2012.

Tony Nuzzo, Chairman, President and CEO of First Commons Bank said, “We are pleased with our continued growth, especially in the loan portfolio. We are also pleased that as a bank which was established on July 22, 2009, we have now reported net positive operating income for five consecutive quarters.”

First Commons Bank’s financial results are available on the FDIC Web site at: http://goo.gl/Q6D3D.

 

First Commons Bank Selected Balance Sheet Items

 

March 2013

March 2012

Total Assets

$222,527,000

$182,595,000

Net Loans

$197,979,000

$148,446,000

Deposits

$198,880,000

$161,751,000

Loans to Deposits

99%

91%

 

First Commons Bank Selected Performance Metrics

Three Months Ended

March 2013

Three Months Ended

March 2012

Net Income

$195,862

$121,111

Net Interest Rate Spread

3.38%

3.32%

Net Interest Margin

3.52%

3.46%

Non-Interest Expenses as a Percent of Average Assets

2.93%

3.26%

Return on Average Assets

0.36%

0.27%

Return on Average Equity

3.52%

2.57%

 

 

About First Commons Bank

First Commons Bank, N.A., is a nationally chartered, FDIC-insured full-service community bank, dedicated to serving the businesses and individuals of Newton, Wellesley, Waltham, and eastern Massachusetts. The bank, which opened for business on July 22, 2009, reported total assets of $222,527,000 as of March 31, 2013 – after only 44 months of operation and making it larger than 59 percent of all FDIC-insured banks in the U.S.

First Commons Bank provides clients with superior, personalized service and the highest quality banking through its onsite management team, experienced staff members, a unique and welcoming branch environment, and advanced banking technologies. Of note: Tony Nuzzo, Chairman, President, and CEO, was named Financial Services Executive of the Year in the prestigious 2010 American Business Awards. First Commons Bank locations include its headquarters at 718 Beacon St. in Newton Centre, Mass., and 161 Linden Square, in Wellesley, Mass.

Visit First Commons Bank on the Web at http://www.firstcommonsbank.com. Follow the bank on Facebook at http://facebook.com/firstcommonsbank and on Twitter at http://twitter.com/firstcommonsbnk.

 


Wednesday, October 31st, 2012

First Commons Bank Grows to a $200 Million Institution in 38 Months

Press Release — For Immediate Release 

First Commons Bank Grows to a $200 Million Institution in 38 Months

 NEWTON, MASS. — October 31, 2012 — First Commons Bank of Newton, Mass., today reported that it achieved a Total Asset level of $200,435,000 as of September 30, 2012, after only 38 months of operation. Total assets have grown by $48 million, or 31%, for the 12 month period ended September 30, 2012. Net loans increased by $60 million, or 57%, for the same 12 month period.

Net income for the nine month period ended September 30, 2012 is $3.1 million, compared to a loss of $2.2 million for the nine months ended September 30, 2011.

Tony Nuzzo, Chairman, President and CEO of First Commons Bank said, “2012 Net Income has been positively impacted by the recognition of a Deferred Tax Asset credit of $2,750,000 which was recorded in the six month period ended June 30, 2012. However, we are pleased that, as a new bank, net operating income has been positive for every month since December 2011.”

First Commons Bank’s assets have now surpassed the assets of more than 4,100 other banks — or more than 57% of the 7,200 FDIC-insured banks which filed FDIC call reports for the period ending June 30, 2012.

The Bank’s Net Interest Margin for the nine month period ended September 30, 2012, was 3.50% compared to 3.00% for the nine month period ended September 30, 2011.

First Commons Bank’s financial results are available on the FDIC’s Web site at: https://cdr.ffiec.gov/Public/ViewFacsimileDirect.aspx?ds=call&idType=fdiccert&id=58923&date=09302012.

First Commons Bank Selected Balance Sheet Items

 

September 2012

September 2011

Total Assets

$200,435,000

$152,272,000

Net Loans

$166,496,000

$105,614,000

Deposits

$176,905,000

$132,965,000

 

First Commons Bank Selected Performance Metrics

 

Nine Months Ended September 30, 2012

Nine Months Ended September 30, 2011

Net Income

$3,100,000

<$2,200,000>

Interest Rate Spread

3.36%

2.82%

Net Interest Margin

3.50%

3.00%

 

ABOUT FIRST COMMONS BANK

First Commons Bank, N.A., is a nationally chartered, FDIC-insured full-service community bank, dedicated to serving the businesses and individuals of Newton, Wellesley, Waltham, and eastern Massachusetts. The bank, which opened for business on July 22, 2009, reported total assets of $200,435,000 as of September 30, 2012 — after only 38 months of operation and making it larger than 57% of all FDIC-insured banks in the U.S.

First Commons Bank provides clients with superior, personalized service and the highest quality banking through its onsite management team, experienced staff members, a unique and welcoming branch environment, and advanced banking technologies. Of note: Tony Nuzzo, Chairman, President, and CEO, was named Financial Services Executive of the Year in the prestigious 2010 American Business Awards. First Commons Bank locations include its headquarters at 718 Beacon St. in Newton Centre, Mass., and 161 Linden St., Linden Square, in Wellesley, Mass.

Visit First Commons Bank on the Web at http://www.firstcommonsbank.com. Follow the bank on Facebook at http://facebook.com/firstcommonsbank and on Twitter at http://twitter.com/firstcommonsbnk.

 # # #


Thursday, April 26th, 2012

First Commons Bank Delivers Operating Profitability, Investment Gains, and $182 million of Assets in 11th Qtr.

— New Mass. Bank Now Larger than 55% of All FDIC-Insured Banks Nationally After Only 11 Quarters —

NEWTON, MASS. — April 26, 2012 — First Commons Bank of Newton, Mass., today reported Net Income of $121,000 for the quarter ended March 31, 2012, representing net operating profitability of $15,000 and one time investment gains from the sale of mortgage-backed securities of another $106,000. Assets have grown to more than $182 million during its eleven quarters of operations ending March 31, 2012. This reflects an increase of 51% or $62 million versus the asset level of $120 million reported for the quarter ending March 31, 2011. The bank began operations on July 22, 2009, and serves businesses and individuals in Newton, Wellesley, Waltham, and eastern Massachusetts.

“I am delighted to report that we achieved our first quarterly net operating income after only eleven quarters of operations. I am also pleased that we were able to demonstrate again our attention to detail and capitalize upon market conditions in order to take a one-time investment gain. Further, our Loan Portfolio grew 95% versus year ago and our Loan to Deposit Ratio is now 91%,” said Tony Nuzzo, Chairman, President, and CEO.

“With more than 7,300 FDIC-insured banks in the U.S. filing reports for the quarter ended December 31, 2011, First Commons Bank’s assets have now surpassed those of more than 3,900 other banks, or more than 55% percent, after just eleven quarters of operations,” Nuzzo added.

The Bank reported net loans have grown to $148 million, compared to $76 million as of a year ago ending March 31, 2011, representing an increase of 95% or $72 million; and compared to $133 million as of last quarter ended December 31, 2011, representing an increase of 11% or $15 million. The Bank’s net interest margin increased to 3.46% for the quarter ending March 31, 2012, compared to 3.32% for the quarter ending December 31, 2011 and 2.85% for the Quarter ending March 31, 2011.

First Commons Bank’s financial results are available on the FDIC’s Web site at http://goo.gl/rLJtA.

About First Commons Bank

First Commons Bank, N.A., is a new, nationally chartered, FDIC-insured full-service community bank, dedicated to serving the businesses and individuals of Newton, Wellesley, Waltham, and eastern Massachusetts. The bank, which opened for business in 2009, reports total assets of more than $182 million, making it larger than 55% of all FDIC-insured banks in the U.S.

First Commons Bank provides clients with superior, personalized service and the highest-quality banking through its onsite management team, experienced staff members, a unique and welcoming branch environment, and advanced banking technologies. Of note: Tony Nuzzo, Chairman, President, and CEO, was named Financial Services Executive of the Year in the prestigious 2010 American Business Awards. First Commons Bank locations include its headquarters at 718 Beacon St. in Newton Centre, Mass., and 61 Linden St., Linden Square, in Wellesley, Mass.

Visit First Commons Bank on the Web at http://www.firstcommonsbank.com. Follow the Bank on Facebook at http://facebook.com/firstcommonsbank and on Twitter at http://twitter.com/firstcommonsbnk.

# # #


Friday, January 27th, 2012

First Commons Bank Assets Top $168 Million in Tenth Qtr., Net Loans Increase 25% vs. Last Qtr.

— New Mass. Bank Now In Top Half of All FDIC-Insured Banks Nationally After Only Ten Quarters —

NEWTON, MASS. — January 27, 2012 — First Commons Bank of Newton, Mass., today reported that its assets have grown to more than $168 million during its tenth quarter of operations ended December 31, 2011. This reflects a 52% increase or over $58 million versus the asset level of $110 million reported for the quarter ending December 31, 2010. The bank began operations on July 22, 2009, and serves businesses and individuals in Newton, Wellesley, Waltham, and eastern Massachusetts.

“With more than 7,300 FDIC-insured banks in the U.S. filing reports for the quarter ended September 30, 2011, First Commons Bank’s assets have now surpassed those of more than 3,800 other banks, or more than 52% percent, after just ten quarters of operations,” said Tony Nuzzo, Chairman, President, and CEO.

“While we are pleased with our asset growth, we remain focused on achieving sustained profitability,” Nuzzo said. “Our net loan growth of 25% for this quarter versus last quarter moves us considerably closer to reaching this goal.”

The Bank reported net loans have grown to $132 million, compared to $69 million as of year ago ended December 31, 2010, representing an increase of 92% or $63 million, and compared to $105 million as of last quarter ended September 30, 2011, representing an increase of 25% or $27 million. The Bank’s net interest margin increased to 3.57%, compared to 2.40% as of year ago ended December 31, 2010, representing an increase of 48%, and compared to 3.25% as of last quarter ended September 30, 2011, representing an increase of 10%.

First Commons Bank’s financial results are available on the FDIC’s Web site at http://goo.gl/gi13x.

Nuzzo also reported that Director Matt Miller resigned from the Board for personal reasons. “Matt has been with First Commons Bank since our earliest days in pre-formation and we thank him for his significant contributions to our success,” Nuzzo said. There are no plans to replace Mr. Miller as Director.

About First Commons Bank

First Commons Bank, N.A., is a new, nationally chartered, FDIC-insured full-service community bank, dedicated to serving the businesses and individuals of Newton, Wellesley, Waltham, and eastern Massachusetts. The bank, which opened for business in 2009, reports total assets of more than $168 million, making it larger than 52% of all FDIC-insured banks in the U.S.

First Commons Bank provides clients with superior, personalized service and the highest-quality banking through its onsite management team, experienced staff members, a unique and welcoming branch environment, and advanced banking technologies. Of note: Tony Nuzzo, Chairman, President, and CEO, was named Financial Services Executive of the Year in the prestigious 2010 American Business Awards. First Commons Bank locations include its headquarters at 718 Beacon St. in Newton Centre, Mass., and 61 Linden St., Linden Square, in Wellesley, Mass.

Visit First Commons Bank on the Web at http://www.firstcommonsbank.com. Follow the Bank on Facebook at http://facebook.com/firstcommonsbank and on Twitter at http://twitter.com/firstcommonsbnk.


Friday, October 28th, 2011

First Commons Bank Assets Top $152 Million in Ninth Qtr., Net Loans Double vs. Year Ago

— New Mass. Bank Surpasses More Than 49% of All FDIC-Insured Banks Nationally After Only Nine Quarters —

NEWTON, MASS. — October 28, 2011 — First Commons Bank of Newton, Mass., today reported that its assets have grown to more than $152 million during its ninth quarter of operations ended September 30, 2011. This reflects a 44% increase or over $46 million versus the asset level of $105 million reported for the quarter ending September 30, 2010. The bank began operations on July 22, 2009, and serves businesses and individuals in Newton, Wellesley, Waltham, and eastern Massachusetts.

“With more than 7,400 FDIC-insured banks in the U.S. filing reports for the quarter ended June 30, 2011, First Commons Bank’s assets have now surpassed those of more than 3,700 other banks, or more than 49%, after just nine quarters of operations,” said Tony Nuzzo, Chairman, President, and CEO.

“While we are pleased with our asset growth over the first two years of operations, we remain focused on achieving sustained profitability,” Nuzzo said.

The Bank reported net loans have grown to $105 million, compared to $50 million as of September 30, 2010, representing an increase of 111% or $55 million. For the nine months ended September 30, 2011, the provision for loan losses increased by approximately $800,000 versus one year ago. For the same period, the Bank’s net interest margin increased by 58% to 3.10%, from 1.96%.

“We are also pleased that we expanded our bank to include a new site in Wellesley, Massachusetts, in August 2011, allowing us to increase our ability to fill the consumer and business voids created by the large banks,” Nuzzo said.

First Commons Bank’s financial results are available on the FDIC’s Web site at http://goo.gl/afM4N.

About First Commons Bank

First Commons Bank, N.A., is a new, nationally chartered, FDIC-insured full-service community bank, dedicated to serving the businesses and individuals of Newton, Wellesley, Waltham, and eastern Massachusetts. The bank, which opened for business in 2009, reports total assets of more than $152 million, making it larger than 49% of all FDIC-insured banks in the U.S.

First Commons Bank provides clients with superior, personalized service and the highest-quality banking through its onsite management team, experienced staff members, a unique and welcoming branch environment, and advanced banking technologies. Of note: Tony Nuzzo, Chairman, President, and CEO, was named Financial Services Executive of the Year in the prestigious 2010 American Business Awards. First Commons Bank locations include its headquarters at 718 Beacon St. in Newton Centre, Mass., and 61 Linden St., Linden Square, in Wellesley, Mass.

Visit First Commons Bank on the Web at http://www.firstcommonsbank.com. Follow the Bank on Facebook at http://facebook.com/firstcommonsbank and on Twitter at http://twitter.com/firstcommonsbnk.

# # #


Friday, September 16th, 2011

First Commons Bank Sponsors 2nd Annual “Free Parking Day” in Newton Centre

First Commons Bank of Newton, Mass., celebrated its second anniversary of operations by sponsoring “First Commons Bank Free Parking Day” throughout Newton Centre.

On Sept. 14th, First Commons Bank shopping bags covered all of the city’s parking meters in Newton Centre as the bank picked up the tab on the meters to provide free parking for all residents, shoppers and visitors throughout the day.

The date represents the official opening of the bank’s headquarters in Newton Centre and its start of operations in 2009. The serves businesses and individuals in Newton, Wellesley, Waltham, and eastern Massachusetts.

Pictured below: Mark G. Jurilla, Senior Vice President and Chief Retail Officer; Lena K. Chouljian, Vice President and Newton Centre Branch Manager; and Michael J. Tallo, Chief Financial Officer.

fcb-newton-35


Friday, September 16th, 2011

First Commons Bank Celebrates Grand Opening of Wellesley Branch Office; Receives Official Citations from State Representative Alice Hanlon Peisch

Wellesley, Mass. — September 16, 2011 — The directors and management of First Commons Bank, along with officials from the Town of Wellesley, Mass., and the Wellesley Chamber of Commerce, joined to officially celebrate the opening of the bank’s second branch office at 161 Linden Street in Linden Square, Wellesley, Mass. on Wednesday. The Newton-based bank began operations on July 22, 2009, and serves businesses and individuals in Newton, Wellesley, Waltham, and eastern Massachusetts.

State Representative Alice Hanlon Peisch presented official citations from the Massachusetts Senate and from the Massachusetts House of Representatives to Tony Nuzzo, Chairman, President and CEO, congratulating the bank on its second branch and wishing the bank continued success.

In addition to Peisch, those participating in the festivities included Wellesley Chamber President and CEO Maura M. O’Brien, Wellesley Selectmen Owen Dugan and Terri Tsagaris, Wellesley Fire Chief Rick Delorie, Deputy Fire Chief Jeff Peterson, and Wellesley Police Department Lieutenants Marie Cleary and Jack Pilecki.

“This week we are celebrating our second new branch and the bank’s second anniversary of operations,” said Nuzzo. “Here in Wellesley, as we have done in Newton, we will strive to become long-term financial partners with our clients while offering best-in-class customer service; easy access to funds; and fast, logical loan decisions.”

Nuzzo introduced Debby Chui, Vice President and Branch Manager in Wellesley, and Brian Mann, Assistant Branch Manager. “Together, the team has 33 years of banking experience and extensive knowledge of the local community that includes more than 20 years in the town of Wellesley,” he said.

Operating hours for the new office will be Monday-Wednesday, 8:30 to 5:00; Thursday and Friday, 8:30 to 6:00; and Saturday, 8:30 to 2:00. The bank’s phone number is 617-243-4400 and the Web address is http://www.firstcommonsbank.com.

About First Commons Bank

First Commons Bank, N.A., is a new, nationally chartered, FDIC-insured full-service community bank, dedicated to serving the businesses and individuals of Newton, Wellesley, Waltham, and eastern Massachusetts. The bank, which opened for business in 2009, reports total assets of more than $136 million, making it larger than 45% of all FDIC-insured banks in the U.S.

First Commons Bank provides clients with superior, personalized service and the highest-quality banking through its onsite management team, experienced staff members, unique and welcoming branch environment, and advanced banking technologies. Of note: Tony Nuzzo, Chairman, President, and CEO, was named Financial Services Executive of the Year in the prestigious 2010 American Business Awards.

First Commons Bank (http://www.firstcommonsbank.com) is headquartered at 718 Beacon Street in Newton Centre, Massachusetts.

Follow First Commons Bank on Facebook at http://facebook.com/firstcommonsbank and on Twitter at http://twitter.com/firstcommonsbnk.

# # #

Press contact: Don Goncalves, Tiziani Whitmyre, Inc., 781-793-9380, dgoncalves@tizinc.com

Download high-resolution photos for publication from: http://goo.gl/Zr4Al

Company contact: Tony Nuzzo, First Commons Bank, 617-243-4410


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