Exceeds annual results expectations, assists communities with funding to navigate pandemic

(Leominster, Mass.) – The year 2020 was a unique year for Fidelity Bank as the global pandemic created an unexpected shift in the world as we knew it. While the year presented unprecedented challenges related to the pandemic, Fidelity Bank remained focused on its newly-refined LifeDesign Banking approach of helping clients, colleagues and community members get where they want to be by providing the clarity needed to make informed decisions in the face of an uncertain future.

The community bank, with headquarters in Leominster and 14 full service offices, grew by 14.4 percent reaching total assets of $1.1 billion, which is up from $972 million in 2019. While COVID-19 created several challenges, it also allowed for the unique opportunity to offer Paycheck Protection Program (PPP) loans to local businesses. During the first round of lending, Fidelity Bank made 449 PPP loans, totaling $54.8 million, with 100 percent loan and forgiveness applications approved by the Small Business Association.

“Our mission of caring deeply and striving to have a positive impact on our family, friends and neighbors served us well as we responded during the pandemic to ensure continuity of business for our clients, and support for our colleagues and communities,” said Ed Manzi, Chairman and Chief Executive Officer, Fidelity Bank. “From providing support to small business owners in navigating PPP loans, helping our clients quickly obtain mortgages in a challenging housing market, and being a strong corporate citizen for our communities during the pandemic, it is clear that Fidelity Bank and our colleagues can weather and appropriately respond to any challenge.” Fidelity Bank shared its 2020 financial data and community growth at its annual meeting on April 20.

Highlights of Fidelity Bank’s Community Growth include:

• Shortly before the pandemic began, Fidelity Bank completed the merger with Family Federal Savings, which resulted in welcoming new clients, communities, and colleagues to the Fidelity Bank family.
• Fidelity Bank’s LifeDesign approach was introduced to 1,866 new client households in 2020.
• Assisted in providing businesses $93 million in commercial loans.
• Provided $225 million in mortgage loans and equity loans with the assistance of an efficient mortgage team who moved quickly to meet the demanding needs of the current housing market.

Bank officials also announced the election of two new corporators of Fidelity Mutual Holding Company. They are Mark Kavanagh, Realtor at GrotonHome Team Keller Williams Realty, Inc. in Groton, and Steve Volante, Owner of Volante Farms, in Needham. Both will serve a ten-year term. Scott Howard and Brent Maugel were re-elected to serve a ten-year term as directors of the Fidelity Mutual Holding Company. Alvin Collins, R. Joseph Salois, Dean Sweeney and C. Deborah Phillips were re-elected to serve a three-year term as directors of Fidelity Mutual Holding Company. Alvin Collins was elected to Clerk of Fidelity Mutual Holding Company for a one-year term, and Judy A. Khallady was elected to Assistant Clerk of Fidelity Mutual Holding Company for one-year term.

In an extraordinary year of challenges due to the pandemic, Fidelity Bank donated nearly $450,000 to more than 200 worthy organizations, events, and important causes in several Central and Eastern Massachusetts communities through its LifeDesign Community Dividend, the philanthropic arm of Fidelity Bank. In addition to its LifeDesign Community Dividend support, the bank also donated more than $100,000 to help various organizations support basic needs early in the pandemic through its Caring for Our Communities COVID-19 Response Grants and provided more than $50,000 in hunger relief support for more than a dozen Massachusetts food pantries.

Treating people with care and respect has always been a guiding principle at Fidelity Bank. In 2020, the bank created the Fidelity Bank Inclusion and Diversity Advisory Board consisting of clients, colleagues, and business and community leaders, to reflect our communities and understand the hopes and fears of clients. Additionally, a Bank Diversity Council was established for colleagues to evaluate training programs and explore new ways to promote inclusion and diversity within the bank.

As one of the board’s first official efforts, the bank committed $45,000 over three years to a partnership with Entrepreneurship for All, an organization to accelerate economic and social impact in communities nationwide through inclusive entrepreneurships, as they expand their services in Worcester and North Central Massachusetts.

Fidelity Bank also received recognition for its work in 2020. It was voted Worcester Telegram & Gazette Best Financial Services in Central Massachusetts and was named to the Boston Globe’s Top Places to Work list for the sixth time.

Click here to view Fidelity Bank’s 2020 Annual Report.

Silva brings extensive experience, impressive results to drive Fidelity Bank’s LifeDesign approach

(Leominster, Mass.) Fidelity Bank today announced the appointment of Joseph Silva to Senior Vice President, Chief Commercial Banking Officer, effective immediately. In this role, he will lead all aspects of Commercial Banking and Cash Management sales with a focus on growing the business while also embracing Fidelity Bank’s LifeDesign approach. He succeeds Barry Bliss, Chief Commercial Banking Officer, who recently announced his retirement forthcoming in August.

“Joe has extensive experience in credit, lending and business development, as well as leading teams toward exceptional results in client-focused growth,” said Christopher W. McCarthy, President & COO. “He is a positive, collaborative and innovative leader, making him a terrific match for our LifeDesign approach to banking.”

Silva joins Fidelity Bank from Pawtucket Credit Union, where he served as Head of Commercial Lending for the past nine years. Prior to Pawtucket Credit Union, he spent five years at Bank Rhode Island.

“Fidelity Bank has a strong reputation of understanding the complexities of today’s business environment by offering sound solutions to empower business owners and their companies,” said Silva. “As leader of the Commercial Banking teams, I’m committed to continuing the strong tradition of helping commercial clients realize their financial hopes and dreams.”

Silva received a bachelor’s degree in Interpersonal Communications from the University of Rhode Island and is also a graduate of the Bank Leadership Program from the Darden School at the University of Virginia.

He will be relocating to Massachusetts in the coming months with his wife, Saovala, and family.

At Orangetheory Fitness, we believe the benefits of exercise extend well beyond the studio. We embrace the idea that a healthy lifestyle can drastically improve workplace performance; increased productivity, reduced absenteeism and relieve stress. We are committed to building relationships with businesses who share our beliefs.

We are running the best promotions Orangetheory has ever run – 1 Month Free and up to $50 off a heart rate monitor for new members.

We can customize a program for your team including but not limited to:

– A corporate discount on monthly memberships
– A 1-hour fitness FLEX YOUR COMPETITIVE class, exclusively for your employees at your studio
– A 1-hour LEARN & BURN team-building class at your location
– An idea of your choosing- we welcome customizing a program that supports your mission and values

Let’s all run, row, lift and sweat our way to improved morale with the help of certified coaches that tailor your workout to your own fitness level.

GARDNER, MA – May 18, 2021 – On Friday, May 14, 2021, MWCC welcomed fourteen students to the dental hygiene profession with a socially distant pinning ceremony outside the main entrance of the Gardner campus.

“This is not totally normal, but this is the most normal event that I have been to in about fifteen months. Thank you for this moment,” opened MWCC President James Vander Hooven. “I am so proud of the efforts these students have made over the past two years. It takes an awful lot to choose to pursue a degree in one of the caring fields, to know that you are going to be dedicating your professional careers to helping others. I am eternally grateful that you have chosen this path, and that you chose to do it with Mount Wachusett Community College.”

Cindy Cadoret, Director of Dental Education Programs, and the dental faculty members pinned the fourteen students, all of whom are receiving their Dental Hygiene Associate Degrees on Wednesday, May 19. The students pinned and the annual department awardees are:

Ashley Beauchemin, Ashby

Samantha Bottis, Worcester

Patricia Bunis, Whitinsville

Jessica Burgos, Fitchburg, Hu-Friedy Golden Scaler Award

Jennifer Burkmier, Lowell

Brianna Coggins, Northbridge

Ivonne Jimenez, Clinton

Ashley Leone, Auburn, Dental Hygiene Most Improved Award

Emily Matusiak, Lowell

Beatriz  Padilla-Lazarin, Leominster

Katherine Piecewicz, Ayer

Courtney Rogers, Uxbridge, Dental Hygiene Community Service Award

Elzbieta Solimeno, Bolton, Dental Hygiene Curriculum and Alumni Scholarship Award

Justin Ward, Charlemont

New leader to continue tradition of excellence, guidance for Section 1031 exchanges

Exchange Authority, a leading consultant and facilitator for Section 1031 exchanges and a wholly-owned subsidiary of Fidelity Bank, today announced the appointment of John Peculis to President and CEO, effective immediately.

Peculis comes to the Exchange Authority with more than 20 years of combined experience in commercial real estate finance across several disciplines, including lending, administration, and valuation.

Most recently, he served as Senior Vice President of Commercial Lending at Fidelity Bank, where he concentrated on commercial real estate, and commercial, industrial, and business banking. As President and CEO of the Exchange Authority, Peculis will continue to serve as a consultant to the Commercial Lending Team at Fidelity Bank. Prior to Fidelity Bank, he served in various commercial lending roles at People’s United Bank, United Bank and Millbury Savings Bank, and he previously owned and operated Allied Appraisal Associates of New England, a commercial real estate valuation and advisory firm.

“John is the perfect leader to help clients continue to make educated financial and investment decisions,” said Ed Manzi, Chairman and CEO, Fidelity Bank. “With John’s knowledge and expertise in commercial lending and business banking, a new generation of investors who want to learn more about Section 1031 Exchanges will have the opportunity to work with one of the best in the industry.”

“It is an honor to lead the Exchange Authority and continue its tradition of excellence as ‘the experts who the experts turn to’ for 1031 advice,” said Peculis. “From small business owners to everyday investors, we are here to help navigate complex regulations to help our client’s investments grow.”

Peculis graduated with a bachelor’s degree in Management from Nichols College. He currently serves as President of the Worcester Economic Club, where he has served on the board of directors since 2012. Additionally, he serves on the board of advisors at Nichols College and is past President of the Worcester Young Businessmen’s Association. In 2012, Peculis was recognized by the Worcester Business Journal as a “40 Under Forty” Award recipient.

He resides in Charlton with his wife and three daughters and is active in the town’s softball and basketball programs as both a coach and board member.

About Exchange Authority

Founded in 1999, the Exchange Authority has been assisting clients and their professional advisors throughout the United States on exchange matters and acting as a Qualified Intermediary since Congress adopted the exchange safe harbor regulations in 1991. As a Qualified Intermediary, the Exchange Authority advises and educates their clients on the process, creates all required documents, coordinates the Exchange of funds, and provides full reports at the end of the Exchange. In 2008, Exchange Authority was acquired by Fidelity Cooperative Bank, making it a wholly-owned subsidiary of the bank. Learn more by visiting https://exchangeauthority.com/.