Fidelity grows to second largest mutual bank in Worcester County
PHOTO/Matt VOLPINI
The merger that saw Edward Manzi Jr., left, of Fidelity Bank, and Guy Boyer of Barre Savings Bank become partners contributed to making Fidelity Bank the second largest mutual bank in Worcester County.
Following its merger with Barre Savings Bank and strong financial performance in 2015 and into 2016, Fidelity Bank has grown to the second largest mutual bank in Worcester County, CEO Edward Manzi announced at the bank’s annual meeting.
The Leominster community bank with offices across Central Massachusetts grew assets to $622 million to close out 2015, up from $605 million the year before. Loans grew to $483 million, up from $452 million, while deposits reached $515 million, up from $473 million.
The bank’s 2015 revenues were $23.4 million.
By the end of April, the bank had total assets of $775 million, bringing it second among Worcester County’s mutual banks behind Worcester-based UniBank for Savings, which has approximately $1.5 billion in assets.
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