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September 30th, 2020 – Coastal Cares

Coastal Cares

Through September 30th, 2020 Coastal Heritage Bank has contributed $82,000 to
fifty-nine different schools, non-profits, community groups, special events and institutions.
Your Bank, Your Community – Growing Together

Abigail Adams Historical Society
Academy Ave Primary School
ARC of the South Shore
Archbishop Williams High School
Boys & Girls Club of Marshfield
Cardinal Cushing Center
Cushing Elementary PTO
E. Bridgewater Little League
EB Guns & Hoses Tournament
Friendship Home
Greater Lynn Chamber of Commerce
Greater Lynn Senior Services
Hamilton Primary School
Hingham Civic Music Theatre
Interfaith Social Services
Kingston Public Library Foundation
Lynn Family & Children’s Services
Lynn Police Association
MA Banker’s Charitable Foundation
MA Coalition for the Homeless
Makayla Fund
Marshfield Education Foundation
Marshfield Lobster Fest
Marshfield Youth Baseball
Massasoit Community College
May Institute
Me Tanner B Foundation
My Brother’s Table
NeighborWorks Housing Solutions
North Shore Community College
Norwell Little League
NSRWA
Plymouth Rotary Charitable Fund
QARI Festival
Quincy Public Schools CFL
Quincy Public Schools Partnership
Rotary Club of the Bridgewaters
Scituate Arts Association
Scituate Community Christmas
Scituate CORSE
Scituate High School Yearbook
Scituate Library Foundation
Scituate Little League
Scituate PHRF
Scituate St. Patrick’s Day Parade
South Shore Hospital
St. Pious V School
TILL, Inc.
Tower Health at Home Hospice
Weymouth Cal Ripken Baseball
Weymouth Cal Ripken Baseball League
Weymouth Educational Foundation
Weymouth HS Girls Soccer
Weymouth Legion Baseball
Weymouth/Braintree Elks
Weymouth Rotary Club
WFP Weymouth Weekend Backpack Program
Wyoma Little League
YMCA of Metro North

September 30th, 2020

Robert Terravecchia, Jr. assumes role of President/CEO of Coastal Heritage Bank

Coastal Heritage Bank officially announces that Robert Terravecchia, Jr. has assumed the role of President/CEO of Coastal Heritage Bank. Mr. Terravecchia has served as Vice Chairman and Chief Operating Officer of Coastal Heritage Bank since the merger of Equitable Bank and Coastal Heritage Bank in 2019. Prior to the merger, Mr. Terravecchia served as President/CEO of Equitable Bank since 2017. Mr. Terravecchia has also served as President/CEO of Weymouth Bank for nearly 20 years.

Mr. Terravecchia fills the role previously held by Donald P. Gill, who retired on June 1, 2020.

Joseph C. Hayes, Chairman of Coastal Heritage Bank, commented: “Coastal Heritage Bank is very pleased to have someone with Bob’s skills and experience to lead the Bank through this current extraordinary time. His exceptional leadership qualities and strategic vision of the future will continue to position Coastal Heritage Bank as a successful and integral part of the North and South Shore communities.”

President/CEO Donald P. Gill Retires from Coastal Heritage Bank

Coastal Heritage Bank officially announces that President/CEO Donald P. Gill has retired from the Bank. Mr. Gill has served as President/CEO of Coastal Heritage Bank since 2015, shortly after the merger of S-Bank and Scituate Federal Savings Bank—a merger that formed Coastal Heritage Bank. Prior to the merger, Mr. Gill served as President/CEO of S-Bank since 2006.

In 2019, Coastal Heritage Bank completed a second merger with Equitable Bank of Weymouth. Mr. Gill will be succeeded by Robert W. Terravecchia, Jr., Vice Chairman & Chief Operating Officer of Coastal Heritage Bank and former President/CEO of Equitable Bank.

In a banking career that spanned nearly 45 years, Mr. Gill held prior leadership positions with First National Bank of Ipswich, National Bank of Greece and Salem Five Cents Savings.
Mr. Gill also served as Chairman of the Massachusetts Banking Association from 2019–2020.

Joseph C. Hayes, Chairman of Coastal Heritage Bank, commented: “Coastal Heritage Bank has been fortunate to have Don lead the Bank through this tremendous period of growth and strategic partnerships. His banking sense, innate leadership qualities and consistent advocacy for his staff and customers alike have made Coastal Heritage Bank a successful part of the North and South Shore communities.”

Banks will Remain Open. Consumers Strongly Encouraged to Bank Electronically.

The Massachusetts Bankers Association announced today that banks throughout the Commonwealth will remain open while keeping their customers and employees safe.  According to Governor Charlie Baker’s order issued earlier today, financial institutions such as banks are considered essential services and will not be subject to the closure.

“While we strongly encourage all Massachusetts residents to heed the Governor’s stay at home advisory and use online or mobile banking, consumers will continue to have access to banking services during the mandatory non-essential business closure,” said Daniel J. Forte, MBA President & CEO.  “The safest place for your money right now is in your local bank where it is insured up to $250,000 by the Federal Deposit Insurance Corporation (FDIC).  Many Massachusetts banks also have excess insurance to protect your funds.”

Consumers needing access to banking services should check with their institution, as many banks have closed branch lobbies, reduced hours or shifted to drive-through only at some locations in an effort to protect their customers and employees.  However, bank staff are available to serve customers and answer questions.  In addition, access to funds through online and mobile banking, ATMs and at Point of Sale transactions remains available during this time.

Coastal Cares

In 2019 Coastal Heritage Bank donated over $90,000 to one hundred sixty different schools, non-profits, community groups and events.

Your Bank, Your Community – Growing Together

  • Abigail Adams Middle School
  • Altrusa International
  • American Legion Post #149
  • American Legion Post #79
  • ARC of the South Shore
  • Archbishop Williams High School
  • Blue Knights
  • Boston Higashi School
  • Boy Scouts of America
  • Boys & Girls Club of Lynn
  • Braintree Rotary Foundation
  • Cardinal Cushing Center
  • Choral Art Soc. of the South Shore
  • Christmas on the Common
  • Church Hill Snowflake Festival
  • Comm. Friends for Human Services
  • Company Theatre
  • Coop’s Troop Foundation
  • Cops for Kids with Cancer
  • DOVE, Inc.
  • Duke Saccardo Scholarship Fund
  • E. Bridgewater Business Association
  • E. Bridgewater Lions Club
  • E. Bridgewater Little League
  • E. Bridgewater Youth Lacrosse
  • East Bridgewater Business Assoc.
  • East Bridgewater HUGS
  • EB Youth Football & Cheerleading
  • EDIC Lynn Fishing Tournament
  • Friendship Home Golf Tournament
  • Germantown Neighborhood Center – SS YMCA
  • Great Pumpkin Give-A-Wey
  • Guns & Hoses Tournament
  • Habitat for Humanity of Plymouth
  • Hamilton Primary School
  • Hanover Chamber Road Race
  • Hanover Lions Club
  • Hanover Police Relief Association
  • Hingham CARES
  • Hingham Civic Music Theatre
  • Hingham High XC TF
  • Hingham Nursery School
  • Hingham Public Library
  • Hingham Recreation Department
  • HMC Gala & Auction
  • ISS Feed the Hungry Gala
  • James Library & Center for the Arts
  • Jennifer Mullins Scholarship Fund
  • JJ Jankford Memorial Trust
  • Joshua Glynn Memorial Foundation
  • Kennedy-Donovan Center
  • Kingston Turkey Trot 5K
  • KIPP MA 10K
  • Kiwanis Club of E. Bridgewater
  • Kiwanis Club of Kingston/Duxbury
  • Korean War Veterans Association
  • Lincoln Hancock Community School
  • Literacy Leadership, Lynn
  • Lynn Classical HS Football
  • Lynn Firefighters
  • Lynn Jets Hockey Boosters
  • Lynn YMCA Stride along the Tide 5K
  • Lynn Youth Soccer
  • MA Bankers Foundation
  • MA General – Elaine Connolly Fund
  • Makayla Fund
  • Manet Community Health Center
  • Manomet
  • Marisa’s Mission Foundation
  • Marshfield Animal Shelter
  • Marshfield Education Foundation
  • Marshfield Grad Nite Live
  • Marshfield HS DECA
  • Marshfield HS Hockey
  • Marshfield Youth Baseball
  • Martinson Elementary School
  • Masonic Lodge Veterans Night
  • Massachusetts Audubon Society
  • Me Tanner B Road Race
  • Mike Piccarini Foundation
  • My Brother’s Table
  • N. Shore Shriners
  • Nahant Garden Club
  • Nahant Little League
  • Nahant Music Festival
  • Nahant Police Association
  • Nahant Village Church
  • Norwell Fire Fighters
  • Norwell High PTO
  • Norwell High Yearbook
  • Norwell Recreation Movie Night
  • Norwell Recreation Summer Camp
  • Norwell Scholastic Arts Society
  • Norwell Summer Fest
  • Norwell VNA & Hospice
  • NSRWA
  • Old Colony YMCA
  • One Life at a Time
  • Pan MA Challenge
  • Pingree Elementary Fun Run
  • Quincy Band Boosters
  • Quincy Chamber of Commerce
  • Quincy HS CFL
  • Quincy HS Football
  • Quincy School Partnership Pathways
  • Rotary Club of Lynn –
  • Dictionary Project
  • Rotary Club of Plymouth
  • Rotary Club of Quincy
  • Rotary Club of the Bridgewaters
  • Rotary Club of Weymouth
  • Run4Scituate
  • Sacred Heart High School
  • Sacred Heart School 5K
  • Salvation Army
  • Scituate Arts Association
  • Scituate Chamber of Commerce
  • Scituate Community Christmas
  • Scituate CORSE
  • Scituate FACTS
  • Scituate Fire Fighters Road Race
  • Scituate Heritage Days
  • Scituate High Yearbook
  • Scituate Little League
  • Scituate PHRF
  • Scituate Police Association
  • Scituate Rotary Club
  • Scituate St. Patrick’s Day Parade
  • Snug Harbor Community Chorus
  • Son’s of Italy Lodge #278
  • South Shore Art Center
  • South Shore Children’s Museum
  • South Shore Habitat for Humanity
  • South Shore Health System
  • South Shore Hospital Foundation
  • South Shore Peer Recovery
  • South Shore Support Services
  • South Shore YMCA
  • St. Mary of the Nativity
  • St. Pius V School, Lynn
  • Sydney Craven Memorial
  • The Molly Fund
  • Thurston Memorial Fund
  • Troop 49 Kingston BSA
  • Trustees of Reservations
  • Weymouth Christmas Fund
  • Weymouth Credit for Life
  • Weymouth Education Foundation
  • Weymouth Elder Services
  • Weymouth Food Pantry Fresh Bite 5K
  • Weymouth High DECA
  • Weymouth High Girls Soccer
  • Weymouth High Theatre Company
  • Weymouth HS Football
  • Weymouth HS Post Prom Party
  • Weymouth Junior Basketball
  • Weymouth Little League
  • Weymouth Rotary Club Gold Classic
  • Weymouth Youth Football & Cheerleading
  • Woodward School
  • Wyoma Lions Club
  • Wyoma Little League, Lynn

Coastal Heritage Bank and Equitable Bank Announce Completion of Merger

Coastal Heritage Bank, wholly-owned subsidiary of South Shore Mutual Holding Company, and Equitable Bank today announced the completion of their merger.

Effective April 1, 2019, pursuant to the terms of the Agreement and Plan of Merger dated as of January 1, 2019, Coastal Heritage Bank and Equitable Bank will merge, with Coastal Heritage Bank as the surviving bank. As a result of the merger, Coastal Heritage Bank will have combined assets of approximately $850 million and customers of both banks will have access to fifteen banking centers located in East Bridgewater, Green Harbor, Hanover, Hingham, Marshfield, Norwell, Quincy (2), Scituate, Weymouth, East Weymouth, South Weymouth, Nahant, Kingston, and Lynn, Massachusetts. The merger will not result in any job losses or branch closings.

“We are excited to begin our partnership,” said Donald P. Gill, President and Chief Executive Officer of the combined Coastal Heritage Bank. “We are confident that our combined scale, experience, and local leadership will allow us to provide greater benefits to customers and employees, while remaining a very strong regional community bank.”

“Our combined Board of Directors and executive management team are pleased to announce the completion of the merger and look forward to implementing our shared vision,” said Robert W. Terravecchia, Jr., Vice Chairman and Chief Operating Officer of the combined Coastal Heritage Bank.

Equitable Bank and Coastal Heritage Bank Agree to Merge

 
             

East Weymouth and Weymouth, MA; August 14, 2018 — Equitable Bancorp, MHC (“Equitable MHC”), the mutual bank holding company for Equitable Bank (“Equitable”), a $332.9 million asset community bank headquartered in East Weymouth, and South Shore Mutual Holding Company (“South Shore MHC”), the mutual bank holding company for Coastal Heritage Bank (“Coastal”), a $517.1 million-asset community bank headquartered in Weymouth, announced today they have executed a definitive merger agreement to merge their institutions.

The definitive merger agreement was unanimously approved by the directors of each institution. Under the terms of the agreement, Equitable MHC and South Shore MHC will merge under the “Equitable Bancorp, MHC” name and immediately thereafter Equitable and Coastal will merge under the “Coastal Heritage Bank” name. The merged bank will be headquartered in Weymouth. Equitable Bancorp, Inc. (“Equitable Bancorp”), the current mid-tier bank holding company of Equitable, will remain the mid-tier bank holding company of the merged bank.

Robert W. Terravecchia, Jr., Equitable’s President and Chief Executive Officer (R) with Donald P. Gill, Coastal’s President and Chief Executive Officer (L)

Robert W. Terravecchia, Jr., Equitable’s President and Chief Executive Officer (R) with Donald P. Gill, Coastal’s President and Chief Executive Officer (L)

Listen below to 95.9 WATD FM’s coverage of this merger:

“Equitable Bank and Coastal Heritage Bank proudly share a rich history of being two of the oldest surviving co- operative banks in Massachusetts,” said Donald P. Gill, Coastal’s President and Chief Executive Officer, and Robert W. Terravecchia, Jr., Equitable’s President and Chief Executive Officer, in a joint statement. “Both banks share a common culture and strong commitment to the communities we serve.”

The post-merger executive leadership and management team of Equitable MHC, Equitable Bancorp and Coastal Heritage Bank will be drawn from both Equitable Bank and Coastal Heritage Bank. Joseph C. Hayes, Coastal’s Chairman of the Board, will serve as Chairman of the Board of Equitable MHC, Equitable Bancorp and Coastal Heritage Bank. Mr. Gill will serve as President and Chief Executive Officer of each entity. Mr. Terravecchia will serve as Vice Chairman of the Board and Executive Vice President of each entity and become President and Chief Executive Officer of each entity upon Mr. Gill’s retirement on or about April 30, 2020.

The transaction is expected to close in the first quarter of 2019, subject to satisfaction of customary closing conditions, including the receipt of regulatory approvals and approval by the respective corporators of Equitable MHC and South Shore MHC.

Luse Gorman, PC served as legal counsel to Equitable, and Nutter McClennen & Fish LLP served as legal counsel to Coastal.

Merger Vision Statement

To combine the resources of Coastal Heritage Bank and Equitable Bank, to create a larger and more sustainable organization that, through the prudent stewardship of our Board of Directors and vision and hard work of our employees, will have the necessary resources to effectively serve our customers and community for future generations.

1. Who is Equitable Bank?

In 2015, recognizing the need to grow in order to remain strong and competitive in an increasingly complex environment, the holding company of Equitable Cooperative Bank voted to merge into the holding company of Weymouth Bank – setting the stage for the banks to come together in August of 2016. The mission of Equitable Bank is to remain a community bank dedicated to developing long-term customer relationships in the communities of the North Shore and South Shore by offering high-quality products and superior customer service. Management will strive to provide a safe, profitable return on investment by focusing on prudent investment strategies that will be beneficial to the Bank, our customers, employees and the community.

Equitable Bank has branch offices in East Weymouth, South Weymouth, Quincy, Kingston, Nahant and Lynn.

2. Why Merge?

In an increasingly competitive community banking environment there are vast benefits and economies of scale when two institutions merge to form one. Savings in compliance costs, auditing costs, and regulatory expenses to name just a few. It is also more efficient to expand an institutions branch network via a merger than through construction of new facilities.

3. What are some of the benefits to me?

As a customer, you will benefit from:

  • More banking locations with 15 branches from the North Shore to the South Shore;
  • Larger commercial lending capacity;
  • A wide range of affordable housing finance options and expertise;
  • Mobile wallet access with Apple Pay, Google Pay, and Samsung Pay;

4. When will the merger be completed?

Regulatory approval was received in March 2019 and merger was complete in April 2019.

5. Will any branches close?

No. And you will continue to be served by the same team of professionals you have come to know over the years.

6. Will my account numbers or debit card number change?

We are working with our core data processor to determine if any account numbers will need to change. You will receive ongoing communication regarding the conversion process and if there are any impacts to your specific account numbers you will be contacted directly by bank staff.

7. What about online banking and the mobile app?

Equitable Bank customers will be able to utilize their current user names and passwords to access the Coastal Heritage Bank online banking platform.

Bill Pay payees will be transferred as well. The Coastal Heritage Bank mobile app will need to be downloaded on your device to access mobile banking.

Again, existing Equitable Bank customers mobile banking user names and passwords will not change.

8. What about deposit insurance?

Coastal Heritage Bank is a secure and well-capitalized bank and a safe place for deposits.  All deposits are insured by the Federal Deposit Insurance Corporation (FDIC) up to $250,000.

In addition, all deposit balances greater than $250,000 are fully insured by the Depositors Insurance Fund (DIF).

The Depositors Insurance Fund (DIF) is a private fund owned by the member co-operative banks, which insures all deposits at co-operative banks in Massachusetts above Federal Deposit Insurance Corporation (FDIC) limits.

The unique combined insurance coverage afforded by the FDIC and the Share Insurance Fund provides the best deposit insurance available, whether deposit balances are held in passbook, statement or certificate-type accounts, or in any combination of these accounts. At a Massachusetts co-operative bank, your deposits are always fully protected.

Since its inception, the Share Insurance Fund has preserved the enviable claim of member co-operative banks that “no depositor has ever lost a penny in any Massachusetts co-operative bank.”

9. What about ATM access?

After the merger is completed, Coastal Heritage Bank will be a member of Allpoint, America’s largest surcharge-free ATM Network with over 55,000 ATMs.

For locations and additional information please visit http://www.allpointnetwork.com/

10. What will the name of the Bank be?

The name of the combined bank will be Coastal Heritage Bank.

Scams in the name of charity

Scammers are creative, cunning and cruel — and they often mix in a little truth to spice up their big lies. This scheme shows just how low they can go.

Government imposters claiming to be with the FTC, or another agency like the fictitious “Consumer Protection Agency,” are calling to inform people they have won a huge sweepstakes from the Make-a-Wish Foundation, a well-known charity for very sick children. To get the money, the callers say, the “winner” must first pay thousands of dollars to cover taxes or insurance on the prize. The call may even come from a 202 (Washington, DC) area code to appear credible — since the headquarters for the FTC and most federal agencies are in DC.

This is just a scheme using the well-known names of Make-a-Wish and the FTC to rob thousands of dollars from people. Once you wire money or send banking information, you will never see your money again.

Here are a few facts and tips to protect yourself and others:

  • If someone asks you to wire money or provide your bank account information over the telephone, it’s a scam.
  • Anytime you have to pay to get a prize, it’s a scam.
  • The FTC doesn’t oversee sweepstakes and no FTC staff is involved in giving out sweepstakes prizes. We do, however, go after sweepstakes scams.
  • If an FTC case results in refunds, you can find the details at ftc.gov/redress.
  • The Make-a-Wish Foundation has information about this specific scam on its fraud alerts page.
  • If you encounter this or other scams, report it to the FTC at 1-877-FTC-HELP or ftc.gov/complaint.
  • Talk to your friends and family about scams. Visit FTC.gov/PassItOn to find out how.

Lisa Lake
Consumer Education Specialist
Federal Trade Commission

Grand opening of the newly constructed community playground

Coastal Heritage Bank, along with students, parents, staff, and other local business sponsors, gathered together on Monday morning for the grand opening of the newly constructed community playground at the Governor Winslow School in Marshfield.

The Bank, the lead sponsor of the campaign to build the playground, was happy to support this wonderful grassroots effort.

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