Westfield —Westfield Bank is pleased to announce that it successfully completed the conversion of Chicopee Savings Bank systems, customer accounts, and branch offices on Monday, December 5. The conversion puts the finishing touches on the merger of Chicopee Savings Bank with and into Westfield Bank.
The newly combined, publicly traded entity, which will operate under the Westfield Bank name, has $2.1 billion in assets and 21 branch offices in western Massachusetts and northern Connecticut. It is now the largest community bank (in terms of asset size) headquartered in Hampden County, Massachusetts and the second largest bank in terms of deposit market share. As part of the merger, the Bank’s holding company has been renamed Western New England Bancorp, Inc. (“WNEB”) with the NASDAQ trading symbol WNEB.
“The merger involves two local institutions with deep roots in the communities they serve,” said Hagan. “Both Westfield Bank and Chicopee Savings Bank started serving customers in this area in the 1850s. Our organizations have long shared common values, a focus on customer service, and a history of supporting the local communities where we do business. We look forward to serving our new customers and are excited at the prospect of helping local people, families, and businesses succeed. To us, that embodies what better banking’s all about.”
