Leader Bank Picks Seaport Innovation District for First Branch in Boston
Boston Mayor Martin J. Walsh to officiate at Grand Opening
ARLINGTON, Mass., June 18, 2015 /PRNewswire/ -- Leader Bank has chosen the Fan Pier development in the Seaport Innovation District as the site of its first branch in Boston and its seventh location overall, the Arlington-based financial institution announced today.
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To celebrate the opening of its newest location, Leader Bank has invited employees from all the companies that have made their home in the Innovation District, particularly those in construction, who are contributing to building the district, to a Grand Opening Ceremony and Luncheon from noon to 2 p.m. on Friday, June 26. Boston's Mayor Martin J. Walsh plans to officiate at the Grand Opening, and several business, political and community leaders are expected to attend the event.
"We are so excited to be opening our new branch in an area that is becoming New England's epicenter of technology and innovation, and offering the Innovation District's employers, employees and residents the high quality banking and lending products and services that Leader Bank has become known for in its 13 years in operation," said Sushil K. Tuli, President and CEO of Leader Bank, N.A.
Tuli said that Leader executives observed growth patterns in Boston's neighborhoods and districts for some time before choosing to locate its first Boston branch in the Seaport Innovation District. "While we had looked at many neighborhoods, we decided that the Seaport District is where we wanted to be because that's where the growth is," he said. "The City of Boston is making a big effort to support innovation and small business growth in the Seaport area. Given our focus on small business clients, it makes sense for us to be here." Leader Bank is one of the six largest SBA (Small Business Administration) lenders in the state, and there are a number of new businesses opening in the Seaport District, many of which may need SBA loans. "That is where we believe we can have the most impact," he said.
"Being part of an Innovation District fits well with our identity," said John Fanciullo, Executive Vice President & Chief Operating Officer. "We are an innovative bank; we create many of our new products, which is unique within banking." Leader Bank has been named multiple times by The Boston Globe as one of the Top Places to Work in Massachusetts.
"We are growing the organization by trying to stand out from our competitors while providing unique solutions to our customers. The byproduct of this approach is growth, which also benefits our employees," John Fanciullo said.
Leader Bank in 2014 received a 5 Star Superior rating – denoting the highest level of overall banking performance – from the independent financial rating organization, Bauer Financial. The award is based upon an analysis of current financial date and designates Leader Bank as one of the strongest banks in the nation in terms of financial health. Leader Bank also was named one of the healthiest banks in the country in 2014 by Sageworks, based on their measurement of credit health, and was ranked No. 1 for purchase mortgages among banks in Massachusetts for single family homes, multi-family homes, and condos by the influential trade publication Banker and Tradesman.
About Leader Bank
With assets over $900 million, Leader Bank is a nationally chartered bank founded in 2002 with seven full-service branches in Arlington, Belmont, Burlington, Cambridge and Boston's Seaport Innovation District. Leader Bank offers a full range of personal and business banking products including free personal and business checking accounts, commercial and residential lending products, home equity lines of credit, deposit products with highly competitive rates and free online banking and bill payment services. Visit Leader Bank's website at www.leaderbank.com for more information.
Contact:
Colette A.M. Phillips Colette, Colette Phillips Communications
617.357.5777
Email
SOURCE Leader Bank
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