FAST50
Turn to page 10 for Banker & Tradesman’s special section of the 50 fastest-growing loan providers in Massachusetts.
ANNIVERSAR Y RR EE AA LL BY THE NUMBERS
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NM F OA RT M EESST TA A T TE E& &F I FN IANNACNI CA IL A IL N F OI R I OANT SI I ONNC ES I1 N8 C 7 2E
County close-up: Hampshire Spotlight: Chesterfield
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Jesse Kanson-Benanav wants to help change the rules that shape who gets to live where and why, and he’s on a mission to bring new voices to the table who want to see more housing in Massachusetts.
IN PERSON
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WEEK OF MONDAY, AUGUST 15, 2022
BANKING & LENDING BY THE NUMBERS
65 percent The increase in commercial mortgage volumes this year. See Diane McLaughlin’s story on this page. Source: The Warren Group
240 percent The growth in Bluestone Bank’s commercial loan portfolio. See Diane McLaughlin’s story on this page. Source: The Warren Group’s Marketshare Module
5,084 The number of commercial mortgages in Massachusetts through June 30. See Diane McLaughlin’s story on this page. Source: The Warren Group
More than half of Massachusetts 50 fastest-growing commercial lenders this year were community banks and credit unions.
FA S T 5 0
CRE LENDING
POWERS FAST COMMUNITY BANK GROWTH
800 percent
But as Rates Rise, So Does Caution
The growth in Webster Five’s commercial loan portfolio. See Diane McLaughlin’s story on this page. Source: The Warren Group’s Marketshare Module
$44.2 billion The dollar volume of commercial mortgages in Massachusetts through June 30. See Diane McLaughlin’s story on this page. Source: The Warren Group
3 HarborOne Mortgage held the third-largest market share in Hampshire County in July. See By the Numbers on page 6. Source: The Warren Group’s Marketshare Module
50 Banker & Tradesman has identified the 50 fastest-growing lenders in Massachusetts. See Diane McLaughlin’s story on this page. Source: The Warren Group’s Marketshare Module
200 percent The growth in Reading Cooperative Bank’s commercial loan portfolio. See Diane McLaughlin’s story on this page. Source: The Warren Group’s Marketshare Module
Unless otherwise noted, all data is sourced from The Warren Group’s Mortgage Market Share Module, Loan Originator Module, Statistics Module and/or proprietary database. For more information please visit www.thewarrengroup.com/business/ datasolutions.
BY DIANE MCLAUGHLIN BANKER & TRADESMAN STAFF
L
ocal banks and credit unions have emerged as big winners from the 65 percent yearover-year- growth in commercial mortgage volumes state-
wide this year. Community banks and credit unions accounted for more than half the lenders featured in Banker & Tradesman’s Fast 50 commercial lenders, based on both number of loans and mortgage volumes.
For many community financial institutions, commercial real estate provides a significant source for income, especially as residential loan demand has softened. But with questions swirling about where the American economy is headed, those same lenders are sounding a cautionary note. “It’s not just that we were in a position to loan more money, it’s also the fact that borrowers wanted to take advantage of that low interest rate opportunity,” said William Benford, executive vice president and senior commercial lender at Bluestone Bank. “Now that we’ve seen interest rates move up, it’s slowed down on the borrower side, but I also think that we as a bank are going to be a little bit more
cautious, understanding that we’re potentially heading into some type of economic downturn.”
Lender Pivots with the Market
The Fast 50, compiled from data collected by The Warren Group, publisher of Banker & Tradesman, reveals the 50 fastest-growing lenders in Massachusetts for the first six months of the year, compared to the same period a year ago. Massachusetts had 5,084 commercial mortgages from January through June of 2022 worth $44.2 billion, compared to 5,107 loans worth $26.6 billion in the first six months 2021. Continued on Page 10
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