Westfield Bank is planning to expand its commercial lending presence in western Massachusetts.
The $1.2 billion-asset subsidiary of Westfield Financial (WFD) entered into a lease for a second location in a downtown Springfield, Mass., office building. Westfield currently has a full-service branch and its cash management team in the Tower Square facility.
Senior lender Allen Miles will lead the new office in Springfield, which will become Westfield's commercial lending hub for its middle market and commercial real estate lending business unit, the bank said in a press release.
The move is expected to be completed over the next couple of months. A total of seven employees will work in the commercial lending office by late August, according to Westfield.
Westfield opened its first banking center outside Massachusetts a year ago in Granby, Conn. The branch has drawn a "notable increase in commercial loan activity" from the northern Connecticut market, Miles said.
"Locating the team in Springfield will give us a stronger physical presence near centers of influence in western Massachusetts and improve our reach into both the central Massachusetts and northern Connecticut market areas," Miles added.