Fill Some Holiday ‘Big Wishes’ at Belmont Savings’ Giving Tree Drive

Photo: A giving tree at Belmont Savings.

To help brighten the season for local children, Belmont Savings Bank is supporting the “Big Wishes Gift Drive” in its Belmont, Watertown and Cambridge branches to benefit the Home for Little Wanderers.

From now until Dec. 15, those interested in participating can stop by Belmont Savings Bank branches in Belmont, Watertown or Cambridge and select an ornament from the giving trees on display. Each ornament indicates the gender and age of a child, as well as the type of gift needed.

All unwrapped gifts dropped off at Belmont Savings will be delivered to the Home for Little Wanderers, which serves children and youth from birth to 21, making a positive impact on more than 7,000 lives each year through a wide network of programs.

Located in Waltham, Dorchester, Roslindale, Plymouth, Walpole, Roxbury, Norwood, Brighton, Somerville and Bridgewater, The Home has an “open door structure that allows children, families, and young adults access services at any point in continuum of care, based on their needs.” Services include: adoption, foster care, clinical and family support, residential care, special education, youth aging out, case management, and program evaluation.

For additional information, please visit Belmont Savings Bank’s website.

Belmont Savings’ ‘Turkey Brigade’ Made Deposits at Local Branches

Photo: (from left) Belmont Savings’ Hal Tovin, COO; Sam Murphy, executive customer support; Katie Conachy, branch manager; and Bob Mahoney, president and CEO.

On Tuesday, Nov. 22, Belmont Savings Bank President and CEO Bob Mahoney under the guise of Plymouth Pilgrim took his annual Thanksgiving tour of the bank’s branches in Belmont, Waltham, Watertown, Cambridge and Newton as he and his “Turkey Brigade” delivered turkeys to employees for the holiday.

The turkeys were fresh from Bob’s Turkey Farm in Lancaster, Mass. Turkeys that colleagues opted to donate went to the Waltham YMCA.

Sporting Moves: Belmont Savings Assists Press Box, Boosters ‘B’ Drives

Photo: What a new press box will look like in the fall of 2017.

In less than a week, Belmont’s most prominent business has scored big with the town’s high school athletic program.

On Monday, Nov. 7, the Belmont Savings Bank Foundation announced a $15,000 donation to complete the fundraising effort to build a new, state-of-the-art press box at Belmont High School’s Harris Field.

A week earlier, the foundation made a $7,500 matching donation that supported the annual fundraising effort of the Belmont Boosters, which this year yielded nearly $19,000.

“The Belmont Savings Bank Foundation’s matching gift is critical to the success of the Booster “B” Drive not only because of its significance in terms of sheer dollars, but also because it’s a major rallying point for the BHS parents and student-athletes who make it all happen,” said Booster’s President Larry Christofori.

Completing the Press Box

After nearly a decade during which the designated press area has been officially closed, it is now expected a rebuilt press box will be up and running by the opening of the 2017 fall and football season.

“We are more than happy to help make the press box for Belmont High School and its student athletes a reality.” said Hal Tovin, executive vice president and COO of Belmont Savings Bank and director of the Foundation.

“It will be a wonderful addition to Harris Field as well as the town of Belmont itself,” he said.

In 2002, Harris Field was rebuilt with an all-weather turf and track, seating and lighting. Initially, a press box was included in plans before funding fell short. Last year, a group of residents and Belmont High School athletic boosters created a Harris Field Building Committee with the goal of raising $240,000 to make the press box project a reality,

Belmont’s Town Meeting approved $165,000 for the project, leaving $75,000 to be raised by private sources. With the help of private organizations, individual donors, and groups that support Belmont sports teams, the town was able to raise much of those private funds with Belmont Savings put the program over the top with the last $15,000 donation.

With the addition of the press box, both the school and the community will procure multiple benefits as students will see improved game coaching and film capabilities for instruction between games and employees and volunteers who staff events at Harris Field will have a more comfortable experience.

Boosters find the funds

While the press box will be used by coaches and the media, the money raised each year by the parents run Belmont Boosters provides revenue for items unfunded by the Belmont High School Athletic Department budget through individual grant requests, the purchase of varsity letterman’s jackets and investing in capital equipment and facilities.

Previously the Boosters funded the renovation of the White Field House and the school’s Fitness Center and the laying of a new floor/court at the Wenner Field House.

In late October, the student-athletes were divided into teams and followed a route in Belmont to solicit contributions through door-to-door engagement with the community. In exchange for a donation of $20, supporters received a Belmont “B” which can be displayed in a window in support of the school athletic program.

“We are more than happy to match the efforts of our student-athletes, who work so hard alongside the Booster parent volunteers to ensure their programs are properly funded,” said Tovin.

The mission of the Belmont Savings Bank Foundation is to provide financial support to organizations in the communities served by Belmont Savings Bank, particularly those committed towards education, health and human services, youth programs, and affordable housing.



Belmont Savings Tops $2B in Total Assets with Record Earnings

Photo: Belmont Savings Bank.

It’s been a busy and fruitful 2016 for Belmont’s most prominent business.

BSB Bancorp, Inc., the holding company for Belmont Savings Bank, the state-chartered savings bank headquartered in Belmont, reported last week a jump in net income – the difference between revenues generated by interest-bearing assets and the cost of servicing liabilities – of $3.2 million for the quarter ended Sept. 30, 2016.

When compared to net income of $1.9 million for the quarter ended Sept. 30, 2015, the bank saw the quarter-to-quarter increase in net income of a whopping 70 percent. 

This marks the Bank’s 13th consecutive quarter – more than three years – of earnings growth. For the nine months ended Sept. 30, 2016, the bank reported net income of $8.7 million compared to net income of $4.8 million for the nine months ended Sept. 30, 2015, or an increase in net income of 79 percent.

As of Sept. 30, 2016, total assets were $2.07 billion, an increase of $260.8 million or 14.4 percent from $1.8 billion at Dec. 31, 2015. The asset growth was primarily funded by growth in deposits and federal home loan bank advances.

The bulk of the bank’s growth came from healthy net loan growth of $251.4 million or 16.4 percent since the beginning of 2016.

“Strong loan growth pushed us past the $2 billion total asset mark this quarter. Good expense control and sound risk management were the foundations for our 13th consecutive quarter of earnings growth,” said Bob Mahoney, the bank’s president and CEO.

The jump in loan activity can be seen throughout all real estate lending groups as residential 1-4 family real estate loans, construction loans, commercial real estate loans, home equity lines of credit and commercial loans increased by $238.2 million, $16 million, $13.2 million, $10.8 million and $8.1 million, respectively.

Banking on Children’s Book For the Benton Library at Belmont Savings

Photo: Benton Library.

Belmont Savings Bank has announced it is holding a Children’s Book Drive to benefit Benton Library. Residents can bring in any old or unused children’s books to the bank’s main Belmont branch before Oct. 31, and the books will be donated to the Benton Library.

Residents can bring in any old or unused children’s books to the bank’s main Belmont branch before Oct. 31, and the books will be donated to the Benton Library.

The Benton Library, at the corner of Oakley and Old Middlesex is a nonprofit, independent community library in Belmont run by volunteers and supported entirely by staff donations. The historic site was designed in 1892 as a chapel for the Belmont School For Boys, and was eventually purchased by Everett C. Benton in 1903 who made the chapel available for Belmont public meetings. After his death, his family offered the chapel to the town to use as a library. 

Belmont Savings Bank is located at 2 Leonard St. in Belmont Center. It will be accepting book donations during normal hours of operation.


Stroll The ‘New’ Belmont Center Saturday Afternoon

Photo: Poster for the Stroll.

Just a little grass at the newly constructed “triangle” is all that’s needed to finally finish the Belmont Center Reconstruction Project.

So why not commemorate the completion of the $2.8 million project with a walk around the place?

On Saturday, Sept. 24, from 5 p.m. to 8 p.m., the Belmont Savings Bank is sponsoring a “Fall Stroll” to celebrate Belmont Center’s Grand Re-opening and rediscover the shops and restaurants in the “Center” while enjoying sales, outdoor dining, live music and promotions.

“We welcome town residents and families to Belmont Center this Saturday as part of our sponsorship for this year’s Fall Stroll,” said Bob Mahoney, CEO and president of Belmont Savings Bank. 

“In particular, we are thrilled to support an event that will drive traffic to the Center’s many vibrant businesses, especially through Belmont Savings’ ‘Stroll the Center’ game where attendees can earn a free area merchant gift card,” Mahoney said.

The “Stroll the Center” game will allow attendees earn a free merchant gift card, plus be entered to win an additional $100 gift card. 

People can pick up a game card from the BSB tent:  

  • As they visit merchants they should ask for a sticker to be placed on their card.
  • When they come back to the Bank’s tent, they can RANDOMLY pull a gift card out of a basket. These cards were donated by the merchants and range in value from $5-$20.
  • In addition, their card enters them to win 1 of 10 $100 gift cards from the stores on the game card. Winners will get to pick which store they would like a gift card.

Fun, Food, Dogs, Dunk Tank and Classic Cars: Belmont Town Day This Saturday

Photo: Belmont Town Day on Saturday.

Food, animals, kiddy carnival rides, a dog show, classic cars, live music, a dunk tank and thousands of residents on Leonard Street can only mean one thing: the 26th annual Belmont Town Day is Saturday, May 21, from 9 a.m. to 4 p.m.

Proudly sponsored by Belmont Savings Bank and run by the Belmont Center Business Association, the yearly event closes down Belmont’s largest business hub so families, friends and gaggles of kids (and especially teens) can wander up and down the High Street to eat samples from the Center’s eateries, listen – and dance – to a live rock band, view classic cars at Belmont Savings (and vote on your favorite) and visit approximately 60 tables set up by businesses, schools and local groups and organizations, several with interesting raffles items.

This year, there will be a photo booth for families with World Marathon Challenge finisher Becca Pizzi.  

And there will be a dunk tank near il Casale. Three chances to throw a strike and knock a kid into freezing water. 


“Belmont Savings once again looks forward to welcoming everyone at this year’s Town Day on May 21, which promises to offer the most fun-filled tribute to the Town of Belmont yet,” said Bob Mahoney, President and CEO of Belmont Savings Bank.

“This year, the bank encourages Belmont families and Town Day attendees to stop by our sixth annual car show, our third annual dog show and – for the first time – a photo booth with World Marathon Challenger, and local resident, Becca Pizzi.”

Belmont Savings’ third annual dog show will begin at noon on the main stage. Prizes will be awarded for categories such as Best Trick and Cutest Puppy. Town Day attendees will select the “best-in-show” by the loudest applause. “Best-in-show” will receive a $100 Belmont Pet Supply gift card while each entrant will receive a gift bag.

The Town Day schedule includes face painting in front of the Belmont Savings main branch located at 2 Leonard Street and pony rides from 10:30 a.m. to 2:30 p.m. under the Leonard Street Bridge, also sponsored by Belmont Savings.

This year a photo booth for families with Becca Pizzi will be open from 10 a.m. – 2 p.m. Pizzi completed the 2016 World Marathon Challenge, participating in seven marathons on seven continents in seven days. The 35-year-old business owner, manager, and mother held the fastest time in the women’s category and placed third overall. Last April, Belmont Savings sponsored the first-ever Becca Pizzi Family Fun Run 5k and 1-mile kids run.

Belmont Savings introduced the car exhibit in 2011, giving proud area collectors an opportunity to show off their pristine cars. Originally showcasing 12 cars, the show has grown to more than 40 cars. The cars will be at 2 Leonard Street and along Moore Street in Belmont Center.

Attendees will also have a chance to enter the cash cube adjacent to the Belmont Savings booth, where they can try their luck at catching flying dollar bills. Running from 11 a.m. to 2 p.m., participants may enter the cash cube, with half the collected dollars being donated to the Foundation for Belmont Education.

Gone in a Flash at Belmont’s Annual Egg Hunt

Photo: Out of the way!

A field covered with several hundred candy-filled plastic eggs. A few hundred children anticipating the hunt. You know the rest.

On the day before Easter, kids and parents descended on the Chenery Middle School playground for the 16th annual Belmont Egg Hunt, sponsored by the Belmont Savings Bank. 

At 10 a.m., like a scene out of a junior version of “The Hunger Games,” the hoard of kid humanity enveloped the playground with one aim in mind: get eggs. For some, it was a chance to romp and scream as they collected the plastic shells; others had an all-business look in their eyes.

Within five minutes, the children had stripped bare the land of all but a few broken plastic containers. The 10 egg limit was not strictly followed by the tributes as the end result was to get as much as they could throw into their bags.

Over at the toddler section – at the playground equipment – the “action” was a bit less competative with some of the participants picking up an egg, putting it back down and then happily going off to find another. 

The yearly hunt is geared towards being a family friendly event, said Susan Condrick of Gibson Sothebys International Realty, who along with her good friend, Carolyn Boyle of Hammond Real Estate, has been organizing the activity for the past few years.

Condrick praised Belmont Savings for “coming through each year” as the lead sponsor and for providing 200 “gold coins” that were included in the eggs. Pediatric Dental Arts of Watertown and the Toy Shop of Belmont provided gift certificates for bikes that were given to a child and toddler.

“This is really a community event for us, getting the volunteers together and coordinating the entire event. With middle and high school students helping, it takes 80 man-hours to put all the eggs together,” said Condrick.

“It’s a really fun event. Most kids are just excited to get two pieces of candy instead of one in an egg,” she said.

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Marathon Challenge Champ Pizzi Speaking at Library at 7 PM Monday

Photo: Becca Pizzi, champion.

You’ve heard about her, seen photos of her running and cheered at her homecoming parade.

Now you can hear Belmont’s own Becca Pizzi share stories from her amazing journey to become the first American woman to complete and win the World Marathon Challenge, running seven marathons, in seven continents, in seven days averaging less than four hours for each 26.2 mile distance.

Pizzi will give insight on the races and what it took for a single mom with two jobs to succeed in achieving her around-the-world adventure tonight, Monday, March 21 at 7 p.m. in the Assembly Room of the Belmont Public Library. Stick around until the end when Becca will answer questions and sign autographs.

belmontsavingsbankSponsored by the Belmont Savings Bank.

Belmont Savings Announce Staff Promotions

Photo: Belmont Savings Bank.

Belmont Savings Bank has announced it has promoted several officers within the organization. The promotions are part of Belmont Savings’ ongoing effort to maintain and strengthen its banking team as it solidifies itself as one of the region’s leading community banks.

“It is with great pleasure that I announce the promotion of five of our colleagues effective immediately,” said Robert Mahoney, pPresident and CEO of Belmont Savings Bank. “These new officers are lynchpins to the bank’s ongoing success, and I applaud each of them on their promotions.”

“These new officers are lynchpins to the bank’s ongoing success, and I applaud each of them on their promotions,” Mahoney said.

“These new officers are lynchpins to the bank’s ongoing success, and I applaud each of them on their promotions.”

The newly promoted officers include:

  • Brian Bagley, Senior Vice President, Commercial Credit Manager. Bagley works with Commercial Real Estate loans closings and post-closing reporting. He lives in Winchester, and is a graduate of the University of New Hampshire – Whittemore School of Business and Economics.
  • Larry Broderick, Senior Vice President, Business Banking. Broderick joined the Business Banking team in 2013 with a particular focus on the Municipal segment. He resides in Londonberry, NH, and received his MBA from Suffolk University.
  • Seth Lopes, Senior Vice President, Business Banking. Lopes is a Business Banking Relationship Manager specializing nonprofit and lawyer banking. He lives in Attleboro, and graduated from Assumption College.
  • Linda Dulski, Assistant Vice President, Wire Transfer Officer. Dulski works to alleviate risk for the Bank when conducting wire transfers. She resides in North Andover, and graduated from New England College of Finance.
  • Kayla Murphy, Assistant Vice President, Marketing Officer. Murphy manages the company’s website, social media channels, community events and Foundation programs. She is a graduate of University of Massachusetts/Amherst and lives in Medford.