home equity loan massachusetts
Beverly bank taking some giant steps
Beverly National Bank has a new home on Wall Street. The bank, with assets of $440 million, last month started trading on the American Stock Exchange under the symbol BVN , forgoing its place on the smaller Over-the-Counter Bulletin Board.
And the bank also issued 805,000 new shares of stock, at $22 per share, netting $16 million in new capital to fuel the bank's aggressive plan to double its size over the next five years.
``We have a real plan for continued growth," said Donat Fournier , chief executive officer. ``We felt it was prudent to do the offering now to support that growth."
The offering, underwritten by Sandler O'Neill & Partners , a New York investment firm, more than doubled the bank's total shareholders to 700. Previously, Beverly National had about 300 shareholders, most of whom live in Essex County, and its shares were traded on the OTC under the symbol BVNC.
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Mass. Gov. Shuts Down 2nd Tunnel Section
BOSTON -- Massachusetts Gov. Mitt Romney ordered an immediate shutdown of the Ted Williams Tunnel's eastbound lanes Thursday as the investigation continued into a deadly collapse of ceiling panels in a connecting tunnel.
No reasons for the closure were immediately released. The governor has been overseeing the inspections of the Big Dig tunnels since shortly after the fatal accident July 10 that killed Milena Del Valle, 38, as she and her husband drove to the airport.
The Ted Williams Tunnel was a key part of the city's massive Big Dig project and leads from Boston to Logan International Airport. The Interstate 90 tunnel where a woman was crushed by 12 tons of falling cement ceiling panels leads to the Ted Williams Tunnel. .