Banking & Finance

People are on the move at the Massachusetts Bankers Association, UMass Medical School and Harrington Physician Services' Physical Medicine & Rehabilitation practice, among others.

The Hanover Insurance Group in Worcester reported a 56% increase in second quarter profits on Tuesday vs. the same time period in 2019.

The owners of Framingham’s Bancroft building have secured $47.5 million in loans from three local banks and MassDevelopment to renovate the former mill and surrounding property into 258 market-rate and affordable rental housing units, according to a Wednesday press release.

Funding has been secured for work on 2 Mercantile Street, part of Mercantile Center, where Broadway Hospitality Group of Boston, the company behind the restaurant chain Tavern in the Square, is on deck to build and operate a 12,600 square-foot, two-story rooftop bar and restaurant.

Kathleen Murphy, president and CEO of the Maryland Bankers Association, has been named incoming president and CEO of the Massachusetts Bankers Association, the organization announced on Friday.

When Central Massachusetts businesses turned to banks for help applying for federal loans for coronavirus pandemic relief, they often skipped over local lenders in favor of national and larger options based outside the region, according to a Worcester Business Journal review of program data.

Rollstone Bank & Trust, headquartered in Fitchburg, will reopen its branch lobbies to customers beginning Monday, the bank announced on Wednesday.

Recipients skewed small, a reflection of both the predominance of small businesses and the aim of the Paycheck Protection Program, which generally leaves out public companies and all those with more than 500 employees.

Companies with new hires and promotions include UniBank, Vision Advertising, Westfield State University and Bay State Savings Bank, among others.

It’s been a worrying few months financially since the coronavirus pandemic hit in March – and that’s for those who’ve kept their job or their business in operation.