Banking & Finance

Will a big bank like Chase put Central Massachusetts-headquartered banks at a disadvantage? Industry leaders here don’t think so.

Shortly after Massachusetts residents voted to legalize recreational marijuana for adult use, officials at BayCoast Bank realized there could be a problem.

Lighthouse Biz Solutions LLC, the Gardner firm providing financial services for the cannabis industry, has partnered with Tel-Affinity Corp. to help Lighthouse’s clients navigate the rising cost of utilities.

MutualOne Bank has hired Daniel Serafin to be its senior vice president and first-ever chief technology officer.

Eastham’s Hometown Financial Group, Inc., parent company of Oxford’s bankHometown, and Randolph Bancorp, Inc. of Quincy have received regulatory approval for their proposed merger and announced Tuesday a target date of Oct. 7 for closing.

The AC Hotel by Marriott Worcester was purchased Friday by Bridgewater real estate investor and developer Claremont Cos. for $40 million, according to the Worcester District registry of deeds.

Rockland Trust has provided $29 million in financing to Waterstone Properties Group of Needham, for the construction of a surgical pavilion expansion at Heywood Hospital in Gardner.

Lundgren Equity Partners purchased two properties at the Southbridge Innovation Center, adding to the multi-million-dollar holdings the Auburn real estate investment and development already owned at the sprawling campus.

Phosphorex, a Hopkinton-based drug delivery-focused contract development and manufacturing company, has named a new CEO following a growth capital investment. 

The Greater Worcester Community Foundation on Wednesday named Tim Johnstone as its interim president and CEO while the GWCF board of directors continues its search to find a full-time CEO following Jim Ayers resignation from the $200-million foundation after five months on the job.