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Press & Media

Pentucket Bank, with assets of over $850 million, offers six full service community banking offices; three in Haverhill, MA, one in North Andover, MA and one each in Hampstead and Salem, New Hampshire. Pentucket Bank’s Administrative Offices are located on the fourth floor of the Pentucket Bank Plaza building at Harbor Place in Downtown Haverhill. Pentucket Bank is a subsidiary of Pentucket Bank Holdings, MHC.
 
For general press and media inquires please contact:
 
Leanne Petrou
VP, Marketing & Community Relations
2 Merrimack Street
Fourth Floor
Haverhill, MA 01830
(978) 556-5474

PRESS RELEASES

Pentucket Bank Once Again Processes Paycheck Protection Program (PPP) Loan Applications Through the Night
Haverhill, MA - April 28, 2020
 
Pentucket Bank once again proves their commitment to the local business community by processing over 100 Paycheck Protection Program (PPP) loan applications through the night, securing critical funds for business owners who had applied with the Bank.
The SBA released the anticipated second round of PPP funds on Monday, April 27th at 10:30 a.m. EST, in the amount of $351 billion. The Pentucket Bank lending team was poised and ready to begin submitting applications immediately at 10:30. However, the SBA portal quickly became overwhelmed by the volume of users attempting to gain access across the country, which caused system slowness and at times unresponsiveness, frustrating eager bankers nation-wide.
 
Pentucket Bank persevered. Their team of dedicated lenders was committed to securing funds for their customers, and worked straight through until just before 3 a.m. when the last of their applications in queue was submitted and authorized. “I have never seen a team more energized to see a task through to completion as I saw with our lenders last night,” said Jonathan Dowst, Executive Vice President at Pentucket Bank. “We had established a tight strategy going into Round 2 and the team remained focused on that, even as we encountered some unexpected challenges along the way. They are incredible!”
 
Senior Vice President and Commercial Lending Department Manager Stephen Jaskelevicus echoed Jonathan’s remarks,
 
“As a community lending team, there is nothing more important to us than helping our local businesses succeed, especially now! Securing these funds as quickly as possible for all of those businesses who placed their trust in us was our mission. While much of the rest of our industry slept, we kept going until that mission was accomplished.”
As of the start of business on April 28th, less than 24 hours after the SBA released their second round of funding, Pentucket Bank had proudly processed in total over 400 PPP loan applications for a combined $64 million, positively impacting over 6,300 jobs in the greater Merrimack Valley and Southern New Hampshire.
 
For more information on the ways in which Pentucket Bank is responding to customers and community amid the COVID-19 pandemic, please visit www.PentucketBank.com/COVID-19.

Pentucket Bank Continues with Increase in Community Contributions Amid COVID-19
Haverhill, MA - April 13, 2020
 
Pentucket Bank announces the third round of “Phase One” donations as part of the Bank’s strategy to increase charitable giving by 20% in 2020; over the $400,000 that the Bank donated in 2019.
 
On Friday April 10, the Bank informed the following organizations that they will be receiving $2,500 in unrestricted funds: Elder Services of the Merrimack Valley, Salem Family Resources and Essex Country Community Foundation. As previously announced, the Bank is committed to placing these meaningful funds in the hands of several agencies that are continuing to provide critical services throughout the Covid-19 pandemic. What the Bank is calling “Phase One” of their giving strategy includes ten local organizations and a total of $25,000; $2,500 for each of the ten. To date the following organizations have also been recipients of these strategic Bank contributions: Sarah’s Place Adult Day Health; Isaiah 58; Home Health Foundation; Emmaus Inc.; Boys & Girls Club of Haverhill, Boys & Girls Club of Salem and Family Services of Merrimack Valley.
 
For more information on the ways in which Pentucket Bank is responding to customers and community amid the COVID-19 pandemic, please visit www.PentucketBank.com/COVID-19.

Pentucket Bank Begins Funding Paycheck Protection Program Loans Within First Week
Haverhill, MA - April 9, 2020
 
Pentucket Bank continues to assist local businesses by submitting Paycheck Protection Program loans (PPP) to the SBA and on April 9th the Bank began expediting the funding of these loans to place the critical funds into the hands of these businesses.
 
Pentucket Bank was one of the first Banks in the Commonwealth to begin submitting their applications as soon as the PPP became available on Friday, April 3rd. Since then, the Bank has obtained SBA authorizations for over 150 PPP loans totaling approximately $35 million and is continuing to process applications daily. They began funding on April 9th with some of their earliest authorized loan applicants; the list includes several businesses, varying in size and located within the Bank’s primary service communities in both Massachusetts and New Hampshire.
 
“We continue to be committed to assisting our local businesses with securing these funds to put their employees back to work and maintain their business functions during this challenging time,”
said Jonathan Dowst, Executive Vice President. He continued, “Time is of the essence and we know that the faster we can get these businesses their money, the faster they can respond to their employees and other business needs. We’re working day and night to make it happen for them.”
 
For more information on the ways in which Pentucket Bank is responding to customers and community amid the COVID-19 pandemic, please visit www.PentucketBank.com/COVID-19.

Pentucket Bank Continues with Increase in Community Contributions Amid COVID-19
Haverhill, MA - April 6, 2020
 
Pentucket Bank announces the second round of “Phase One” donations as part of the Bank’s strategy to increase charitable giving by 20% in 2020, over the $400,000 that the Bank donated in 2019.
 
The Bank contacted the following organizations on Friday April 3, to let them know they will be receiving $2,500 in unrestricted funds: The Boys & Girls Club of Haverhill, The Boys & Girls Club of Salem and Family Services of the Merrimack Valley. As previously announced, the Bank is committed to placing these meaningful funds in the hands of several agencies that are continuing to provide critical services throughout the Covid-19 pandemic. What they are calling “Phase One” of the Bank’s giving strategy includes ten local organizations and a total of $25,000; $2,500 for each of the ten. The first 4 recipients of the donations were: Sarah’s Place Adult Day Health; Isaiah 58; Home Health Foundation and Emmaus Inc.
 
For more information on the ways in which Pentucket Bank is responding to customers and community amid the COVID-19 pandemic, please visit www.PentucketBank.com/COVID-19.