bankHometown CEO to Retire

Oxford, Massachusetts – bankHometown announced that Michael D. Hewitt, its President and Chief Executive Officer, has decided to retire on June 30, 2018. Sam S. Pappas, Chairman of the Board, stated that “We have been very fortunate to have Mike Hewitt as the leader of our Bank since 2013. His vast banking experience and strong leadership will be missed by us all.  We wish Mike all the best in retirement.”

Mike Hewitt joined the Bank in 2011 and was appointed President and Chief Executive Officer in 2013. The Bank has more than doubled in size under his leadership and is widely considered to be one of the best performing banks in the region. Mr. Hewitt added that “I have truly enjoyed my time at bankHometown. I am grateful for having had the opportunity to work closely with the dedicated professionals on bankHometown’s Board of Directors over the past five years. It goes without saying that I will miss my daily interactions with bankHometown’s exceptionally talented staff and management team. With that said, after 40 years in banking, I am excited to turn my attention to spending more time with my family.”

To provide continuity and maintain the Bank’s strategic direction, the bankHometown Board of Directors has chosen to fill Mike Hewitt’s role with Matthew S. Sosik, the President and Chief Executive Officer of bankHometown’s mutual holding company. Mr. Pappas added that “This decision maximizes our flexibility and leaves many strategic opportunities available to us. Matt formerly served as President and Chief Executive Officer of bankHometown for a period of 17 years up until 2013. We are fortunate to have someone with the familiarity and experience  with bankHometown who can seamlessly fill Mike’s role upon his retirement.”

bankHometown is headquartered in Oxford, Massachusetts and has $735 million in assets. In 2016, bankHometown merged its mutual holding company with that of bankESB, a $1.35 billion bank headquartered in Easthampton, Massachusetts. The two banks are now both subsidiaries of Hometown Financial Group, MHC, a $2.2 billion mutual holding company. The two banks operate autonomously and share many of their back office and administrative resources.

Mr. Sosik stated that “We are committed to mutuality and strongly believe in the value of our mutual holding company model. We hope to attract other like-minded banks into our growing and successful company as scale and size have become critical elements of being successful in today’s banking environment.” Sosik further added that “As excited as I am about the future of our mutual holding company and our two affiliate banks, I am truly excited for Mike on his upcoming and well deserved retirement.  Mike is a great banker, but he’s an even better  person, and all of us wish him the very best in his retirement later this year.”

bankHometown has served its communities since 1889 and operates thirteen full service offices; eight in central Massachusetts and five located in northeastern Connecticut. Depositors of bankHometown have their deposits insured by the Federal Deposit Insurance Corporation for amounts up to $250,000 with amounts in excess of $250,000 insured in full by the Share Insurance Fund, a private excess insurer.


OXFORD, MA:  Michael Hewitt, President of Hometown Bank Community Foundation announced a contribution of $15,000 to North Central MA Development Corporation (NCMDC).

NCMDC serves twenty six communities within Worcester, Middlesex and Franklin Counties focusing on micro-lending, creating jobs and operating small business workshops. Their recent efforts have helped create dozens of new businesses and helped dozens more grow thereby creating several hundred new jobs in local communities.

In celebration of NCMDC’s 30 years of service, they are launching an Economic Advancement Fund to help expand their economic development efforts. bankHometown has supported NCMDC for years and this recent $15,000 contribution from Hometown Bank Community Foundation will help support this new fund and NCMDC’s efforts to further job and business growth.

Christina DiRusso, bankHometown’s assistant vice president of commercial lending, is a member of NCMDC’s micro loan committee. She said “I see first-hand the number of businesses that are helped with counseling and micro loans.” She added that they are a valuable organization in their market as they “facilitate and connect businesses and help promote local businesses with events and press.”

bankHometown is headquartered in Oxford, Massachusetts and has $730 million in assets.  bankHometown has served its communities since 1889 and operates thirteen full service offices; eight in central Massachusetts and five located in northeastern Connecticut.

bankHometown recognized by SBA as a Top Lender in CT Market

HARTFORD, CT – The U. S. Small Business Administration (SBA) announced its 2017 Eagle Award recipients at its Annual Lenders & Partners Meeting yesterday at Stony Creek Brewery in Branford, CT.

The SBA lending results in Connecticut for the federal government’s fiscal year ending September 30, 2017 reported positive trends.

SBA in Connecticut supported over $284 million dollars in loans through its three premier loan programs: the 7a Loan Guaranty Program, the Certified Development Company/504 Loan Program and the Micro-Loan Program. Connecticut surpassed last year’s loan volume total by 3 percent for a grand total of 819 loans. As a result of these loans, over 6,200 jobs were either created or retained in Connecticut.

bankHometown was recognized as the Top Lender in the 504 Loan Program category, based on loan amount in the state of Connecticut.

The SBA 504 Loan program is a powerful economic development loan program that offers small businesses another avenue for business financing, while promoting business growth, and job creation.  As of February 15, 2012, the $50 Billion in 504 loans has created over 2 million jobs.  This program is a proven success and win-win-win for the small business, the community and participating lenders.

The 504 Loan Program provides approved small businesses with long-term, fixed-rate financing used to acquire fixed assets for expansion or modernization.  504 loans are made available through Certified Development Companies (CDCs), SBA’s community based partners for providing 504 Loans.