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THE FINANCIAL SERVICES AND REAL ESTATE WEEKLY FOR MASSACHUSETTS BY THE NUMBERS
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County close-up: Franklin Spotlight: Colrain
IN PERSON
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When Laura Portney graduated from Clemson University, she faced a pivotal decision: pursue her master’s degree at Boston Architectural College, or enter the workforce full-time at architects Prellwitz Chilinski Assoc. Portney chose to do both. It made for an “intense” four years, she recalls, but in hindsight it was the right decision.
WEEK OF MONDAY, AUGUST 13, 2018
BANKING & LENDING BY THE NUMBERS
$800 million A conservative estimate of the amount of money lost for credit card users due to U.S. synthetic identity fraud in 2017. See Julie Conroy’s column on page 10. Source: The Aite Group
3.1% The amount consumer credit grew in June of this year, a slow growth compared to May which surged 7.5 percent at a seasonally adjusted annual rate. See Week on the Web on page 2 for more. Source: Federal Reserve
$36 million
COMMERCIAL INTERESTS
SEAPORT REIGNS SUPREME After Multiple Rebrand Attempts, the Waterfront Neighborhood is Still the Seaport
The decline of commercial construction loans the parent company of Rockland Trust sustained from the second quarter of 2018. See Bram Berkowitz’s story for more information on page 7. Source: Rockland Trust
8.8% The growth year-over-year of the overall cost of construction materials in May, the largest annual increase in almost seven years. See Bram Berkowitz’s story on page 7. Source: Associated General Contractors of America
$600 million The amount of assets Merrimack Valley Credit Union had at the end of 2017. See Week on the Web on page 2. Source: Merrimack Valley Credit Union
$29 million
BY SCOTT VAN VOORHIS
The volume added during the second quarter of 2018 to Rockland Trust’s parent company. See Bram Berkowitz’s story on page 7. Source: Rockland Trust
BANKER & TRADESMAN COLUMNIST
W
hat’s in a name? Apparently not much if it happens to be the “Innovation District.” Boston City Hall’s years-long, headscratching attempt to rename the booming Seaport is officially dead. When I caught up with him the other day, Brian Golden, head of the Boston Planning and Develop-
$500,000 The amount of drugs proceeds Juan Peguero, a Boston resident, transferred into his account. He has been charged in an indictment with two counts of money laundering. See Week on the Web for more on page 2. Source: U.S. Attorney’s Office
44.5% The price increase for diesel fuel in May of this year. See Bram Berkowitz’s story on page 7 for more. Source: Associated General Contractors of America
Unless otherwise noted, all data is sourced from The Warren Group’s Mortgage Market Share Module, Loan Originator Module, Statistics Module and/or proprietary database. For more information please visit www.thewarrengroup.com/business/datasolutions.
ment Agency, took the opportunity to put the final nail in a very dumb idea. Golden noted his agency no longer uses the Innovation District name moniker in its voluminous marketing and planning materials. After eight years, this experiment in top-down rebranding, in which City Hall attempted to rename an entire neighborhood by edict, has come mercifully to an end. Continued on Page 3
TRADE POLICY
INK BLOCK EAST?
Developers Fix Cost of Materials with Suppliers or Pass Down to Buyers
Changes Are Coming to Dot Ave. Corridor
By Bram Berkowitz | Banker & Tradesman Staff
By Steve Adams | Banker & Tradesman Staff
Impacts of Tariffs and Trade Big Developer Eyes South Policy Begin to Trickle Down Boston for Acquisitions
Banking & Lending PAGE 7
Commercial Real Estate PAGE 8