Gavegnano named acting CEO and pres. of East Boston SB and Meridian
At the June 9th meetings of the boards of directors of Meridian Interstate Bancorp, Inc., and its wholly-owned banking subsidiary, East Boston Savings Bank, Richard Gavegnano, chairman of the board and chief executive officer of Meridian and chairman of the board of East Boston Savings Bank was appointed as the CEO and acting president of East Boston Savings Bank and of Meridian Interstate. Gavegnano replaces Robert Verdonck, who recently resigned and retired. Gavegnano has been authorized by the board to lead a search committee to consider candidates for the president position.
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.
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.
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