Kathleen Heroux joins Needham Bank as Vice President IT Operations Manager
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.
Needham Bank Completes Financing to Glorious Cannabis Company
Glorious Cannabis will use the financing to complete the construction of their cannabis establishment in Uxbridge, Massachusetts.
Blake Bamford joins Needham Bank as Senior Vice President Structured Finance Relationship Manager
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.
Groma and Needham Bank Partner to Finance Multi-Family Investments in Boston, MA
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.
Needham Bank Closes Cannabis Loan to Bostica, LLC
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.
Needham Bank Closes $24MM Credit Line with XS Financial
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 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.