Equitable Bank, Coastal Heritage Bank Agree To Merge

 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, announce 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.

“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.

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Gender Identity Added To Anti-Discrimination Ordinance

By SCOTT JACKSON

The City Council approved legislation amending Quincy’s anti-discrimination ordinance to prohibit discrimination on the basis of gender identity.

The measure, sponsored by Councillors Brian Palmucci and Nina Liang, was approved by an 8-0 margin on June 4; Ward 5 Councillor Kirsten Hughes – who was elsewhere in the chamber during the roll call vote and not seated with her colleagues – did not vote on the item. Mayor Thomas Koch planned to sign the amendment into law, his spokesman, Chris Walker, said following the meeting.

The ordinance adds gender identity to the 15 other bases – including age, ancestry, citizenship, gender, race, and sexual orientation, among others – upon which discrimination in matters of housing, employment, education, contracts, purchasing or public accommodations are prohibited.

Palmucci said the council’s vote was a symbolic one meant to show discrimination on the basis of gender identity would not be allowed.

“The purpose of this is really, I think, more symbolic than anything else…this would put in place the policy perspective of this body that gender identity is something that the City Council feels as though should be codified as unlawful to discriminate against somebody on the basis of,” Palmucci said.

“I don’t think it changes the way in which the city does business one iota. I don’t think it means any type of facilities are open or closed to anyone gender identity-wise or for any reason.”

“I think it’s important that as we continue to work to be inclusive here in the city that we show gestures that show we want everyone to be included,” Liang added.

Councillor Anne Mahoney said the School Committee had previously voted to add similar language to the school system’s anti-discrimination policy.

“I’m happy to support this tonight and I think it’s long overdue,” she said. “It’s not a matter of whether it’s a problem or not, it’s a matter of acceptance.”

A 2012 state law prohibits discrimination in employment, housing, lending, credit and mortgage services based on an individual’s gender identity. That same law expanded the definition of a hate crime to include criminal acts motivated by prejudice towards transgender individuals and prohibited discrimination based on gender identity in public schools.

 

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Deer Spotted In Hancock Cemetery

A deer was spotted Wednesday in historic Hancock Cemetery adjacent to City Hall. Animal control officers were enroute to relocate the animal. The deer attracted a few folks who stopped to get a glimpse of the animal. Quincy Sun Photos/Robert Bosworth

A deer was spotted in June in Hancock Cemetery adjacent to City Hall. Animal control officers were enroute to relocate the animal. The deer attracted a few folks who stopped to get a glimpse of the animal as it wandered throughout the historic burial ground. Quincy Sun Photos/Robert Bosworth

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Quincy Entrepreneur Releases New Book: Superconnector

ATTENDING THE RECENT launch event for the book Superconnector at 1495 Hancock St. in Quincy inclucded (from left to right) Philip Faulkner, David Hyman (SVP of Old Colony YMCA), Walter Hubley (head of Woodward School), and Eric Braun (founder, South Shore Innovation). Photo Courtesy Eric Braun

ATTENDING THE RECENT launch event for the book Superconnector at 1495 Hancock St. in Quincy inclucded (from left to right) Philip Faulkner, David Hyman (SVP of Old Colony YMCA), Walter Hubley (head of Woodward School), and Eric Braun (founder, South Shore Innovation). Photo Courtesy Eric Braun

By ERIC BRAUN

Entrepreneur, writer, community builder and co-founder of South Shore Innovation.

“Networking as we know it, as we have been taught it, is dead,” begins Superconnector, the new book on building business relations. Networking has been around in business since the invention of clams as a currency.

Today, in the age of cryptocurrencies (like bitcoin, ethereum and dogecoin), a hodge-podge gathering of somewhat random people just doesn’t cut it. We know we need more, and we acknowledge we want more. In comes Superconnecting to the rescue!

for web IMG_8340On Thursday, March 15, South Shore Innovation hosted a private party to launch the new book, Superconnector, by Quincy entrepreneur Ryan Paugh and his co-author, Scott Gerber. The event was sponsored by FoxRock Properties and catered by Suddenly Simple Events.

We curated the attendees and designed the event to be a learning opportunity with food and drink that would be conducive to superconnecting. I interviewed Ryan to help the attendees get a better understanding of superconnecting and provide for a learning opportunity.

“This book launch was an exciting moment for me, Scott, and The Community Company. I was glad to be able to share the night with my South Shore Innovation friends. There are so many smart and innovative people in Quincy. South Shore Innovation, and companies like FoxRock who are supporting their efforts, are leading the charge in bringing us together, showcasing our businesses, and getting us taken seriously in the greater Boston community.”

Superconnecting is not new, but Ryan and Scott compiled some valuable concepts together with real life stories for a fresh view on how to make better trusted connections in business. This insight is more relevant today than every in a world where most of us get sucked into the virtual social network void and often lose sight of how to make true connections.

According to the authors, research shows there could be more than 400 million people worldwide who are addicted to social media. Superconnecting can turn our virtual and live social interactions into more positive and productive experiences rather than wasted time.

In a nutshell, superconnecting is about using techniques to make people want to be with you and want to help you meet others and meet your goals. It’s about creating trusted relationships that are mutually beneficial. Typical networking often does the opposite and creates alienation or, at least, self-centeredness.

To achieve the positive outcomes of superconnecting, there are three main points: 1) asking questions, 2) helping others, and 3) avoiding the appearance of being a stalker.

By asking the people you are talking to about themselves, you show them you care about them and you learn valuable information about what they like, what they do and how they think. Networkers, on the other hand, often hijack a conversation and start selling at the other person. Nothing will create a wall and drive someone away faster than this.

In your communications, however, keep true to who you are. Authenticity creates trust which is a key component of building any strong relationship.

As Ryan puts it, “Now more than ever, it’s important to be yourself in business. Showcase your vulnerabilities, have less surface-level conversations, and let people know what makes you special. You can be your weird, wonderful self and be uber successful. With all of the phonies and hucksters out there crowding the room, it will be seen as a breath of fresh air.”

Once you’ve starting asking about the other person, they will inevitably ask about you in many cases, and voila, you have a productive two-way conversation. Even if they don’t ask about you, you learn about them, what they care about and how they think, which allows you to think about how you can help them with your skills, experience or products and services.

By knowing more about them, you will know better how to get them interested in what you have to offer than you ever could have guessed.

Ryan and Scott tell us, “Connecting is about finding out what the other person needs and how you can help.” Make sure to make it all about others, not about you.

No one likes a stalker. It’s creepy and creates more tension that trust. If you think you need to get at the top dog in a company or organization, going directly to them often backfires. They’re often too busy and a nervous first impression can make you feel like a star-struck stalker.

Alternatively, finding someone in their circle of influence — an assistance or colleague — could be less intimidating and the start of an easier conversation. If you can connect with them using the first two points, there’s a good chance they will help you meet the person you had hoped to meet.

In the book, John Ruhlin, author of Giftology, recalls an early mentor telling him, “If you do something for the inner circle, everything else in business seems to take care of itself.”

In our world today, where we feel like we have too little time to get things done, we often rush into a connection too quickly and end up destroying our chances for making it a valuable connection. Learning to be a superconnector can help change that.

But don’t take my word for it, read the book and uncover the details and stories that helped other entrepreneurs, including Ryan and Scott, grow their companies. It will be well worth your time.

Superconnector can be found at Amazon.com, Barnes and Nobles, iBooks and many local bookstores.

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Quincy, County Cork Ink Economic Development Deal

Declan Hurley (right) the mayor of County Cork, Ireland, presented Quincy Mayor Thomas Koch with a commemorative pen Tuesday after an economic development agreement between the two entities was signed. Hurley also invited Koch to visit County Cork, a county of more than 540,000 in the south of Ireland. Quincy Sun Photo/Scott Jackson

Declan Hurley (right) the mayor of County Cork, Ireland, presented Quincy Mayor Thomas Koch with a commemorative pen Tuesday after an economic development agreement between the two entities was signed. Hurley also invited Koch to visit County Cork, a county of more than 540,000 in the south of Ireland. Quincy Sun Photo/Scott Jackson

By SCOTT JACKSON

Representatives from County Cork, Ireland, were in Quincy Tuesday to sign an agreement meant to bolster economic development between the two polities.

Quincy Mayor Thomas Koch signed the pact Tuesday in the Great Hall of the McIntyre Government Center. Declan Hurley, the mayor of County Cork, and Tim Lucey, the chief executive of the Cork County Council, signed it on behalf of the county of more than 540,000 in the south of Ireland.

The four-page agreement outlines benefits to both Quincy and County Cork in the areas of business, academia and tourism.

The pact notes Quincy and County Cork share mutual areas of strength across a variety of industries and sectors, including life sciences, marine renewable energy, technology and financial services.

To help foster business growth in the two regions, Quincy will be presented as a region of investment for Cork companies. Quincy companies looking to expand into Cork will be provided access to economic development programs via the county council and would be provided with shared workspace. The Cork County Council, Cork Chamber of Commerce and related entities would also help Quincy stakeholders looking to enter the broader European market.

Companies based in County Cork would be offered support services by the Quincy Chamber of Commerce and office space in the chamber’s Quincy Center for Innovation.

In the area of academia, Quincy College graduates will benefit from the ability to matriculate into Cork’s third-level institutions offering four-year degree programs; graduates of the school’s biotech and good manufacturing programs could also be placed into jobs with Cork-based bio-manufacturing companies. As part of the deal, a partnership between the culinary program at Quincy High School and hospitality and tourism program at academic institutions in Cork would be explored.

In the future, Cork’s third level institutions could be promoted to American high school students, and access to Quincy College’s summer biotech program could be offered to secondary students in Cork. Also under consideration would be cultural exchange programs and sporting tournaments between secondary school students, and shared business and history curriculums for secondary school students.

In the area of tourism, Quincy will be marketed directly at Cork Airport – Ireland’s second-busiest airport. Tour operators in Cork will also provide Quincy tour packages.

The Cara Travel Group and others based in Quincy would promote Cork tourism initiatives, including the Wild Atlantic Way, a 1,500-mile tourism trail on Ireland’s west coast; Ireland’s Ancient East; and Spike Island in Cork Harbor, which was named one of Europe’s best attractions at the 2017 World Travel Awards.

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