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Westfield Bank has opened a new branch in Bloomfield, marking the Western Massachusetts-based lender’s fourth Connecticut location.
The newly built branch, which Westfield began erecting in February, is located in the Copaco Shopping Center, 337 Cottage Grove Road, and will be open seven days a week.
It is managed by Lindsay C. Allen, a Bloomfield resident who previously worked at Windsor Federal Savings and Bank of America.
Westfield, which is owned by publicly traded parent Western New England Bancorp, also said it’s a few weeks away from opening its fifth Connecticut location, at 977 Farmington Ave. in West Hartford. That location will house a full-service branch as well as a financial services center, with a suite of offices for residential and commercial lending and government deposit services.
In a statement, CEO James C. Hagan said Westfield is “excited to expand deeper into Connecticut and serve the greater Hartford market.”
“Both of our new locations will offer the deposit, lending, and technology solutions our customers need, and we’re confident that our community bank values and customer-first approach will be a great fit,” he said.
Westfield Bank first crossed the border into Connecticut in 2013.
According to the latest available market share data from the Federal Deposit Insurance Corp., the bank had $80.2 million in Connecticut deposits, amounting to 0.2% Hartford County market share, as of June 30, 2019.
However, Westfield only had two Connecticut branches open at that time. With double that number now open, the bank’s local market share will likely be higher when the FDIC releases its June 30, 2020 data this fall.
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