News: Financial Digest

Florence Bank commits $4,000 to West Springfield Library project

West Springfield Florence Bank, a mutually-owned savings bank serving the Pioneer Valley through 9 branch locations, recently committed $4,000 to the West Springfield Library project, over the next two years, as part of the library’s construction expansion project.

The West Springfield Library has undertaken a $2 million renovation project, which will increase the library space from 19,000 to 34,000 s/f; the new design will also include a large community room which will be accessible after hours for public events and meetings, and an expansion of the children’s area, and a study room and area for young adults.

“The library is such a valuable and important part of the West Springfield community. We are delighted to support this project, and look forward to seeing the new library,” said John Heaps, Florence Bank president and CEO.

“We would like to thank Florence Bank for their generous donation in helping reach our goal to raise $2 million from local businesses, individuals and foundations to create a beautiful, functional space and expand programming for both children and adults,” said Sharon Scott, chair of the West Springfield board of trustees.

Florence Bank is a mutually-owned savings bank chartered in 1873. Currently, the Bank serves the Pioneer Valley through 9 full-service branch locations in Florence, Northampton, Easthampton, Williamsburg, Amherst, Hadley, Belchertown and Granby as well as through 27 ATMs and a loan production office in West Springfield. Florence Bank offers a wide range of financial services including investment management through FSB Financial Group (FSBFG) to consumers and businesses. John Heaps Jr. is the bank’s president and chief executive officer. Main headquarters are at 85 Main St., Florence, Mass.

MORE FROM Financial Digest

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.
READ ON THE GO
DIGITAL EDITIONS
Subscribe
Quick Hits
Columns and Thought Leadership
Conn. hospitality market: A technical appraisal perspective on market dynamics and valuation challenges (2019-2025)

Conn. hospitality market: A technical appraisal perspective on market dynamics and valuation challenges (2019-2025)

The Connecticut hospitality market has demonstrated uneven recovery patterns between 2019 and 2025, with boutique and historic properties achieving $125 RevPAR in 2025, up 8.7% from the 2019 level. Coastal resort properties achieved a $105 RevPAR in 2025, representing 10.5% growth since 2019. Casino corridor properties maintained modest growth with RevPAR improving 4.5% to $92 in 2025.
Examples of investors who used Kay Properties for legacy and estate planning purposes for rental property/portfolios - by Dwight Kay

Examples of investors who used Kay Properties for legacy and estate planning purposes for rental property/portfolios - by Dwight Kay

Preserving wealth across multiple generations requires strategic planning, foresight, and the right investment vehicles. Delaware Statutory Trusts (DSTs) offer a powerful solution for families looking to build and protect their financial legacy and to efficiently plan for their estate.