Hampden Bancorp, Inc. operates as the bank holding company for Hampden Bank that provides banking products and services to individuals, families, and businesses in Hampden County, Massachusetts. The company offers its products and services through its main office located in Springfield, Massachusetts and nine other offices located in Hampden County, Massachusetts, as well as through Internet. Lending Activities The company originates commercial real estate loans, residential real estate loans secured by one- to four-family residences, residential and commercial construction loans, commercial and industrial loans, home equity lines of credit, fixed rate home equity loans and other personal consumer loans. The company makes loans throughout Massachusetts, most of its lending activities are concentrated in Hampden and Hampshire counties. Commercial Real Estate Loans: Commercial real estate loans are secured by commercial properties, such as industrial properties, hotels, small office buildings, retail facilities, warehouses, multi-family income properties and owner-occupied properties used for business. Residential Real Estate Loans: The company offers fixed-rate and adjustable-rate residential mortgage loans. These loans have original maturities of up to 30 years. The company originates adjustable-rate mortgage loans (ARM loans) with a maximum loan-to-value ratio of up to 95% with private mortgage insurance. The company offers a short term relief program that provides its residential mortgage customers with the ability to overcome temporary financial pressures. Home Equity Loans: The company offers home equity lines of credit and home equity term loans. Home equity lines of credit and loans are secured by first or second mortgages on one- to four-family owner occupied properties, and are made in amounts such that the combined first and second mortgage balances generally do not exceed 85% of the value of the property serving as collateral at time of origination. Commercial Loans: The company originates secured and unsecured commercial loans to business customers in its market area for the purpose of financing equipment purchases, working capital, expansion and other general business purposes. The company’s commercial loans are collateralized by equipment, accounts receivable and inventory, and are usually supported by personal guarantees. The company offers both term and revolving commercial loans. Construction Loans: The company offers residential and commercial construction loans. The majority of commercial construction loans are written to become permanent financing. The company originates fixed-rate and adjustable-rate loans to individuals for their primary residence. The company also makes construction loans for commercial development projects, including office buildings, senior housing facilities, apartment buildings, industrial buildings, retail complexes and medical facilities. Consumer and Other Loans: The company originates various consumer and other loans, auto loans and loans secured by passbook savings or certificate accounts. The company also purchases manufactured home loans and automobile loans from third parties. Investment Portfolio The company’s investment portfolio includes municipal bonds, corporate bonds, residential mortgage-backed securities, common stock, and Federal Home Loan Bank of Boston stock. Deposits The company’s consumer and commercial deposits are gathered primarily from its primary market area through the offering of a selection of deposit products, including checking, regular savings, money market deposits and time deposits, including certificate of deposit accounts and individual retirement accounts. Regulations The company is subject to examination, regulation, and periodic reporting under the Bank Holding Company Act of 1956, as amended, as administered by the Federal Reserve Board. The bank is subject to the supervision and regulation of the Massachusetts Commissioner of Banks and the Federal Deposit Insurance Corporation (FDIC). History Hampden Bancorp, Inc. was founded in 1852.
hampden bancorp inc (HBNK:NASDAQ GM)
19 Harrison Avenue
Springfield, MA 01102
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