Ms. Lindsay brings over 20 years of retail banking experience to this new role. She will be responsible for leading the Retail Administration team and overseeing their professional development and training.
Reporting to James Gordon, Senior Vice President—Information Technology, Ms. Heroux is responsible for managing the day-to-day coordination of IT systems and staff.
Glorious Cannabis will use the financing to complete the construction of their cannabis establishment in Uxbridge, Massachusetts.
Mr. Bamford will evaluate, authorize and recommend approval for commercial loans that are generally greater than $10 million in commitment size. He also will assist James Daley, Senior Vice President-Structured Finance with the build-out of the Bank’s C&I Structured Finance segment.
Needham Bank and Groma have partnered on a $41.5 million three-part debt facility. The bulk of the partnership is focused on enabling Groma to scale up its acquisition/rehabilitation of small-unit count multi-family homes in Boston.
Bostica will use the financing to complete the construction of their 60,000-square-foot cannabis cultivation and manufacturing facility in Lynn, Massachusetts. Needham Bank also provided working capital to support Bostica’s operations.
XS Financial Inc., a specialty finance company providing CAPEX and equipment financing solutions to cannabis companies in the United States, announced it has entered into a new $24 million line of credit (Credit Facility) with Needham Bank committing $20 million and acting as the administrative agent.
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.
Needham Bank recently announced that Phillip Crotts has joined the Information Technology department as Vice President IT Security Program Officer. He is responsible for the maintenance of IT security functions and serving as the IT liaison for federal examiners and external and internal auditors.
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 has officially been named a U.S. Small Business Administration (SBA) Preferred Lender—the highest lending status available within the agency.