Needham Bank Commits $2 Million CRA Equity Investment to Reinventure Capital Fund I, LP
Needham Bank is pleased to announce it has committed to invest $2 million in a venture capital fund overseen by the Massachusetts-based firm Reinventure Capital (Reinventure).
Needham Bank Announces Retirement of Longtime Executive and Chairman of the Board Jack McGeorge; President and CEO Joe Campanelli Elected as Chairman of the Board
Needham Bank announced today that Jack McGeorge, Chairman of the Board of Directors, will retire effective July 27, 2022 and President Joe Campanelli will succeed him as Chairman.
Arthur Zweil joins Needham Bank as Vice President Commercial Real Estate Lender
Needham Bank announced that Arthur Zweil joined the Commercial Lending department as Vice President Commercial Real Estate (CRE) Lender. He is responsible for evaluating, authorizing and recommending approval of commercial loans, as well as advising borrowers on strategies to manage their business’ finances.
Needham Bank Becomes Small Business Administration Preferred Lender
Needham Bank has officially been named a U.S. Small Business Administration (SBA) Preferred Lender—the highest lending status available within the agency.
Anthony LaRosa, CPA, joins Needham Bank as Senior Vice President, Director of Accounting
Needham Bank announced that Anthony LaRosa joined the accounting department as Senior Vice President, Director of Accounting. Mr. LaRosa will report directly to Executive Vice President, Chief Financial Officer & Treasurer Danielle Walsh and perform complex accounting duties, review and prepare financial documents and improve accounting and investment functions.
Needham Bank Completes Transfer of Cannabis Banking Business from Eastern Bank
Needham Bank (“Needham”) and Eastern Bankshares, Inc. (“Eastern”) (Nasdaq Global Select Market: EBC), the stock holding company for Eastern Bank, announced today that Needham completed the transfer of the cannabis banking and money service businesses from Eastern after receiving the necessary regulatory approvals.
Thomas Bickford joins Needham Bank as Vice President Cash Management Sales Team Leader
Mr. Bickford is responsible for overseeing the cash management relationship managers, ensuring improvement in revenue growth and portfolio development of cash management products.
Lori Schofield joins Needham Bank as Vice President Residential Loan Officer
Needham Bank announced that Lori Schofield joined the Residential Lending team as vice president residential loan officer. Ms. Schofield will be responsible for originating first mortgage loans, promoting Needham Bank’s lending services to the real estate community, and helping to identify and serve the community’s financial needs through home loan counseling and real estate seminars.