News: Financial Digest

East Boston Savings Bank promotes Armstrong and Cotter

East Boston Savings Bank has made the following promotions: Keith Armstrong has been named a senior vice president. Armstrong heads the consumer and business banking division that includes the branch network and East Boston Investment Services, a division of the bank offering investment services and financial-planning products through Infinex Financial Group. He also has responsibility for the bank's marketing, public relations, advertising and events management efforts as well as the security and facilities departments. Paula Cotter has also been named a senior vice president. Cotter heads the operations division of the bank which includes responsibility for the bank's service bureau relationship with Metavante and information technology, as well as deposit operations and the call center. She is also the bank secrecy act officer and is responsible for the bank's BSA/AML program.
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Preservation of Affordable Housing secures $23.5 million in financing from Rockland Trust and Citizens Bank

Cambridge, MA The nonprofit Preservation of Affordable Housing (POAH) has secured $23.5 million in financing from Rockland Trust and Citizens Bank to transform a 150-year-old, underutilized church complex into housing. The project will ultimately create 46 affordable family-sized apartments.
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