First Commons Bank Announces First Expansion, Will Open New Branch and Additional Office Space in Wellesley

NEWTON CENTRE, Mass., Feb. 3, 2011 /PRNewswire/ -- First Commons Bank, N.A., has filed an application with the Office of the Comptroller of the Currency (OCC) to open a new, fully staffed branch office in the town of Wellesley, Mass. The bank began operations on July 22, 2009, to serve businesses and individuals in Newton, Wellesley, Waltham, and eastern Massachusetts. First Commons Bank has over $110 million in assets and has surpassed the asset size of more than 2,900 or 38% of all FDIC-Insured banks in the U.S. — after just six quarters of operations. The bank is headquartered in Newton Centre, Massachusetts.

Tony Nuzzo, the bank's Chairman, President, and CEO, said, "Our new branch, pending OCC and town approvals, will be located at 161 Linden Street in Linden Square, Wellesley, and is targeted to open around midyear 2011. We also plan to build additional administrative offices adjacent to the proposed Wellesley branch to accommodate the new space requirements that have resulted from our growth."

Nuzzo, who lives in Wellesley, said, "The new Linden Square branch will allow First Commons Bank to better serve Wellesley residents." He said, "The bank will build upon its founding principles of resolving major points of consumer dissatisfaction with the big banks by providing superior personal service, logical and quick decisions with access to decision makers, and very few fees."

About First Commons Bank

First Commons Bank, N.A., a nationally chartered, FDIC-insured, full-service community bank, is dedicated to serving the banking needs of small to midsized businesses as well as individuals in Newton, Wellesley, Waltham, and eastern Massachusetts. First Commons Bank combines the industry's most advanced technology with a highly experienced, onsite management team to provide clients with superior, personalized service and the highest-quality banking experience. It offers a comprehensive portfolio of retail and business banking services, including checking and savings accounts, online banking, ATM/debit cards, money market accounts, certificates of deposit, home equity loans, residential and commercial mortgages, consumer and business loans, and cash management services. Of note: Tony Nuzzo, Chairman, President, and CEO, was named Financial Services Executive of the Year in the prestigious 2010 American Business Awards. First Commons Bank (http://www.firstcommonsbank.com) is headquartered at 718 Beacon Street in Newton Centre, Massachusetts. A new branch is planned to open in Wellesley, Massachusetts, in 2011.

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SOURCE First Commons Bank