Mark Williams. Photo courtesy of KeyBank
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NH Mutual Bancorp
Two New Hampshire Mutual Bancorp banks, Merrimack County Savings Bank and Meredith Village Savings Bank, have rolled out a new tool to help homebuyers.
The two announced they have introduced a one-time construction loan rate float-down option for eligible construction loan borrowers.
Available during the first six months of permanent financing, the float-down option allows qualified borrowers to lower their permanent loan interest rate if market rates decline after construction is complete.
“When you’re building a home, changing market conditions can add another layer to an already complex process,” Lauren Young, MVSB vice president of residential mortgage sales, said in a statement. “Our float-down option provides qualified borrowers with another tool that may help them feel more confident as they make decisions for their future.”
KeyBank
KeyBank announced a new head of business banking operations for its New England division.
Mark Williams will be based in KeyBank’s Portland office and will oversee the Business Banking Sales teams in the Maine, Vermont, Connecticut and Massachusetts markets.
Previously, Williams was chief growth officer at Androscoggin Bank.
“Mark’s experience, expertise and passion for serving clients will continue to advance the growth of our business in our New England markets,” KeyBank East Region Business Banking Executive Renae Nixon said in a statement. “His success developing and executing strategy, as well as supporting and elevating teammates, make him a great addition to our team.”
Mascoma Bank
Hanover-based Mascoma Bank announced it supported a Wisconsin cheese producer with New Markets Tax Credits.
The bank’s Mascoma Community Development arm announced the $15 million tax credit package.
The money will finance a $100 million, multi-phase investment plan for Muscoda Protein Products, a Muscoda, Wisconsin-based affiliate of Meister Cheese Co.
The investments will increase the company’s cheese production and “strengthen the regional dairy supply chain in a rural, low-income community,” Mascoma said.
