Worcester Banks See Good Omens

January 27, 2022

A Region Poised for Growth

Peter Alden, president and CEO of downtown Worcester-based Bay State Savings Bank, said when he first
arrived in Worcester 10 years ago, people in the city seemed to have an attitude that nothing would ever change. That attitude has evolved over the past five years, he said.
“To see the changeover that’s going on in the downtown area specifically is very, very interesting to watch, and be a part of, certainly,” Alden said.

Even while the Paycheck Protection Program provided significant support to small businesses in 2020 and 2021, Alden said Bay State Savings Bank in 2021 had its highest volume of commercial lending in the bank’s history. Unlike past years, he added, the pipeline remained strong through the holiday season into the new year.

Read the complete Banker & Tradesman article, written by Diane McLaughlin, here.