News: Financial Digest

Haverhill Bank promotes Patriakeas to senior VP and compliance officer

John Patriakeas, Haverhill Bank John Patriakeas, Haverhill Bank

Haverhill, MA John Patriakeas was recently promoted to senior vice president, chief compliance officer and BSA officer at Haverhill Bank. Patriakeas, a certified regulatory compliance manager and certified regulatory vendor program manager, joined Haverhill Bank in 2012. He is responsible for ensuring the bank conforms to the federal and state banking rules and regulations.

“As anyone in business knows, the regulatory environment can be complex. John’s experience, adaptability to change and commitment to continued learning has made him an invaluable asset to the bank and its customers,” said Haverhill Bank president and CEO Thomas Mortimer.

Prior to joining Haverhill Bank, Patriakeas spent nearly 18 years at Eastern Bank where he held various management positions, including vice president of compliance and operational risk.

Born and raised in Lowell, Patriakeas has held many different positions in both professional and civic organizations. He is the former chairman of the Massachusetts Community Banking Council and a member of the Eastern Massachusetts Compliance Network. He received his bachelor’s from UMass Lowell and master’s from Rivier College (now Rivier University). Active in his church and an avid American history enthusiast, Patriakeas lives in Groveland with his wife and two daughters.

A depositor-owned institution, Haverhill Bank was founded in 1877 and is the oldest cooperative bank in Massachusetts. The bank’s main office is at 180 Merrimack St. in Haverhill. Haverhill Bank also maintains offices at 163 South Main St., 1094 Main St., 100 Lafayette Square, Haverhill High School and Whittier Regional Vocational Technical High School in Haverhill; 6 West Main St., Merrimac, and 396 Main St., Salem, N.H.

MORE FROM Financial Digest
Financial Digest

Example Story Title FD 5

Boston, MA The fall season always marks the return of IFMA Boston events, and this year is no different. Registration is now open for IFMA Boston’s FMForward Deep Dive 2024. The FMForward Deep Dive 2024 Conference will be held on November 19th at the Babson Executive Conference Center in Wellesley, Mass.
READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
Another reason to stay debt free in a 1031 Delaware Statutory Trust exchange - by Dwight Kay

Another reason to stay debt free in a 1031 Delaware Statutory Trust exchange - by Dwight Kay

It seems like every day there is another reason showcasing the reason why more and more investors are choosing to stay debt-free when investing in Delaware Statutory Trust (DST) properties in a 1031 exchange.
What’s UP with that? - by Kyle Kadish

What’s UP with that? - by Kyle Kadish

Investors have multiple tools to defer tax liabilities when selling investment properties. The best known is likely a 1031 exchange - which has been around in some form or fashion for over 100 years. Installment sales have existed as part of the code for more than 75 years. Newer legislation (2017) created Qualified Opportunity Zones (QOZs)
Reverse exchanges and the challenges of a competitive real estate market - by Michele Fitzpatrick

Reverse exchanges and the challenges of a competitive real estate market - by Michele Fitzpatrick

Our current, highly competitive real estate market poses specific challenges for investors who are considering taking advantage of a tax-deferred 1031 exchange. In this market, investors will have no problem selling their current property if priced properly, but they may find it difficult to find a suitable replacement property
Cracking the code: Understanding the pros and cons of Delaware Statutory Trusts for 1031 Exchange real estate investors - by Dwight Kay

Cracking the code: Understanding the pros and cons of Delaware Statutory Trusts for 1031 Exchange real estate investors - by Dwight Kay

In the realm of real estate investing, the 1031 exchange Delaware Statutory Trust can provide savvy real estate investors a unique opportunity to achieve passive management, the potential for regular monthly distributions, and a way to enter one of the most tax efficient real estate investment strategies available today.