Westfield Bank
Westfield Bank is a 170-year-old community bank that operated 25 branches across western Massachusetts and northern Connecticut, serving SMBs, municipalities, healthcare, property managers, attorneys, and consumers with commercial and consumer lending, deposit services, and municipal banking before its November 2025 acquisition by First Financial Bancorp for $325 million.
- Company typePublic
- Founded1853
- HeadquartersWestfield, United States
- Headcount251–500
- GTM typeB2B and B2C
- OfferingServices
What Westfield Bank does
Westfield Bank is a Massachusetts-chartered community bank founded in 1853 (originally as Savings Bank Upstairs), operating 25 branches across western Massachusetts and northern Connecticut with approximately $2.6 billion in assets and $2.2 billion in deposits as of March 2023. The bank served small-to-medium businesses, municipalities, healthcare organizations, property managers, attorneys, CPAs, non-profits, and individual consumers through a relationship-based banking model anchored by local decision-making and a dedicated Commercial Lending Center in Springfield, MA.
Its product portfolio spans commercial lending (term loans, lines of credit, commercial real estate, SBA 7(a) and 504, letters of credit, FastTrack Business Credit), consumer lending (residential mortgages, home equity, auto, personal lines of credit), deposit products (checking, money market, CDs), digital banking (mobile app, online banking, Zelle, eStatements, debit card manager), and specialized municipal services (Positive Pay, ACH Manager, Deposit Manager remote deposit capture, Government Payment Portal, Municipal Lockbox). Technology is built on a traditional community-banking platform supplemented by integrations with Clover (POS), Elan Financial Services (credit cards), LPL Financial (investment referral), CheckWriters (payroll), Deluxe Provent (identity protection), Zelle (P2P), and Coinstar.
Revenue is generated through traditional banking mechanics: net interest income on the loan portfolio and deposit spread, plus noninterest income from deposit account fees, merchant services transaction fees (Clover), credit card interchange (Elan), and affiliate/referral revenue from LPL Financial investment services and CheckWriters payroll. The bank was acquired by First Financial Bancorp in November 2025 for $325 million in a cash-and-stock transaction, with the conversion completed in Q1 2026, expanding First Financial's assets to $20.6 billion and terminating Westfield Bank's independent operations.
Westfield Bank firmographics
Firmographics- Name
- Westfield Bank
- Legal name
- Westfield Bank
- Website
- https://westfieldbank.com
- Company type
- Public
- Founded year
- 1853
- Operating status
- Acquired
- Headcount range
- 251–500 employees
- Short description
- Westfield Bank is a 170-year-old community bank that operated 25 branches across western Massachusetts and northern Connecticut, serving SMBs, municipalities, healthcare, property managers, attorneys, and consumers with commercial and consumer lending, deposit services, and municipal banking before its November 2025 acquisition by First Financial Bancorp for $325 million.
- Ownership category
- akta.pro rank
Westfield Bank industry classification
Industry- Product category
- Community Banking
- NAICS
- Commercial Banking (52211)
- SIC
- State Commercial Banks (6022)
- akta.pro primary industry
- SME Deposits & Business Accounts (Operating, Savings, CDs) (FSABABAC)
- akta.pro secondary industries
- Mass-Market Consumer Deposit Banking (Checking/Savings) (FSABAAAA), Branch & In-Person Banking (Teller/ATM Networks) (FSABAAAE)
Keywords
Where Westfield Bank is headquartered
LocationHeadquarters
- HQ city
- Westfield
- HQ country
- United States
- HQ region
- North America
Offices14 records
Markets served
Westfield Bank business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales
Revenue model
- Interest Income from Lending: Traditional banking revenue from interest earned on residential mortgages, commercial loans, consumer loans, home equity products, and SBA loans. Products include fixed and adjustable rate mortgages, commercial real estate loans, term loans, lines of credit, and letters of credit.
- Deposit Account Fees and Interest Spread: Revenue from checking accounts, savings accounts, money market accounts, and certificates of deposit through interest rate spreads. Also includes analysis fees for business accounts.
- Credit Card Processing: Business and personal credit card services through Elan Financial Services partnership. Revenue from transaction processing and interchange.
- Merchant Services: Point-of-sale payment processing through Clover partnership. Revenue share from payment processing transactions for business merchants.
- Payroll Services: Referral revenue from CheckWriters Payroll partnership for small, medium, and large businesses.
- Investment Services: Investment services referral arrangement with LPL Financial. Securities and advisory services offered through LPL with referral arrangement.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Pay-as-you-go | Home Equity Line of Credit - 10 Year Draw, 15 Year Repayment - Up to 80% CLTV |
| Unit Pricing | Monthly | Auto Loans - New 60 Months |
| Subscription | Monthly | Conventional Fixed Rate Mortgage - 30 Years |
| Subscription | Monthly | 5/1 Adjustable Rate Mortgage |
| Subscription | Annual | Portfolio Certificates of Deposit - 7 Month WB CT Portfolio |
| Subscription | Monthly | CT Portfolio Money Market |
| Usage-based | Monthly | FastTrack Business Line of Credit |
| Subscription | Monthly | ID Restoration Pro |
| Subscription | Monthly | ID Protect Plus |
Go-to-market motion1 record
Distribution channels5 records
Marketing channels5 records
Westfield Bank product offering
Product offeringCore offering
Westfield Bank is a community bank providing deposit accounts, consumer and commercial loans, mortgages, credit cards, merchant services, municipal banking, payroll referral services, and investment services through 25 branches across western Massachusetts and northern Connecticut, supported by mobile and online banking. It serves individual consumers, small and mid-sized businesses, municipalities, healthcare organizations, property managers, attorneys, CPAs, and non-profit organizations with relationship-based local decision-making.
Differentiator
Problem solved
Functional benefit
Products and services
- Personal Checking Accounts Personal checking account products offered to individual consumers in western Massachusetts and northern Connecticut, with tiered features such as identity theft protection, debit card management, and online account opening.
- Personal Money Market & Savings Accounts Variable-rate money market and savings accounts for individual consumers seeking higher yields than standard checking, with options tied to WB Portfolio relationship banking.
- Certificates of Deposit (CDs) Personal certificates of deposit with fixed terms and APYs, including the WB Portfolio CD available exclusively to WB Portfolio checking account owners.
- Residential Mortgages Residential mortgage loans for home purchase and refinance, including fixed-rate and 5/1 adjustable-rate mortgage products, available through branches and online application.
- Home Equity Lines & Loans (HELOC) Home equity lines of credit and loans for personal homeowners, with a 10-year interest-only draw period, variable rate tied to Prime, and autopay discount.
- Consumer and Auto Loans Consumer installment and auto loans for personal use, including new vehicle financing with tiered LTV limits and autopay discount from WB checking.
- Personal and Business Credit Cards Personal and business credit cards issued through Elan Financial Services with zero fraud liability, 24/7 cardmember service, and free online expense reporting.
- Personal Line of Credit Revolving personal line of credit for individual consumers, providing flexible access to funds, available online.
- Retirement Services
Quantifiable outcome
- Assets exceeding $1 billion for the first time in 2001
- +1 more outcomes
Companies that use Westfield Bank
Customer profileNamed customers8 records
Segments8 records
Ideal customer profiles4 records
Westfield Bank technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration6 records
Feature6 records
Westfield Bank partnerships and signals
Strategic signalPartnerships
Five partnerships are on record, tiered minor and core.
- Civista BankminorJoint development financing partnership for Valor Acres office building in Brecksville, Ohio as part of mixed-use development including R&D facility for Sherwin-Williams.
- CheckWriters PayrollminorPartnership with CheckWriters Payroll, a locally-based payroll service company in Northampton, MA, dedicated to helping businesses meet payroll needs. Services include paperless payroll, payroll tax filing, garnishment administration, flexible spending accounts, and worker's compensation reporting.
- Clover (First Data Merchant Services)coreWestfield Bank Merchant Services powered by Clover provides POS systems for restaurants, retailers, and service businesses. Clover is a leading global provider of payments and financial technology solutions. Services include inventory management, employee schedules, payroll integration, mobile loyalty, and Clover Capital.
- LPL FinancialminorInvestment services referral arrangement. Westfield Investment Services offers personalized financial planning through LPL Financial, a registered investment advisor and broker dealer (member FINRA/SIPC). Services include securities and advisory services offered through LPL with revenue sharing arrangement.
- Elan Financial ServicescoreCredit card issuer and servicer for Westfield Bank business and personal credit cards. Provides zero fraud liability, free online expense reporting, and 24/7 cardmember service.
Scale indicators7 records
Recent moves7 records
Expansion highlights5 records
Westfield Bank competitors and assessment
Company assessmentBroad incumbents
- Webster Bank: Larger Connecticut-headquartered regional bank with broader New England footprint and similar commercial/SMB banking services. Represents the more scaled competitor Westfield competes against.
Direct peers
- Salem Five: Massachusetts mutual community bank serving similar SMB and consumer customers with comparable commercial lending and deposit products in the New England market.
- Cambridge Bancorp: Massachusetts-based community bank with similar commercial lending and deposit franchise. Recently acquired by Eastern Bankshares, illustrating the regional M&A consolidation trend.
- Rockland Trust (Independent Bank Corp): Massachusetts-headquartered community bank with comparable footprint across New England and similar SMB/commercial banking focus. Closest direct peer by geography and customer segments.
- Berkshire Hills Bancorp: New England community bank serving Massachusetts, Connecticut, New York, and Vermont with commercial lending, retail banking, and wealth management. Comparable scale and regional model.
- Eastern Bankshares: Massachusetts-based community bank with similar SMB and consumer banking focus, recently completed its own M&A activity. Comparable customer profile and regional positioning.
- Brookline Bancorp: Massachusetts community bank with diversified commercial lending, deposit, and wealth management services. Similar scale and product mix to Westfield.
- United Bank (United Financial Bancorp): Community bank serving Connecticut and Western Massachusetts with comparable retail and commercial banking services, including municipal banking expertise.
Regional players
- Monson Savings Bank: Western Massachusetts community bank with overlapping geographic footprint in the Pioneer Valley. Smaller scale but direct overlap in Westfield/Springfield market.
- Florence Bank: Western Massachusetts community bank based in Northampton, MA. Directly overlaps Westfield Bank's core geography and competes for the same SMB and consumer customers.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat4 records
Key risks6 records
Key highlights7 records
Customer concentration
Westfield Bank social profiles
Digital presenceWestfield Bank financial estimates
Financial estimateRevenue estimate
Valuation estimate
Westfield Bank leadership team
Management profileNumber of profiles
Profiles24 records
Westfield Bank funding detail
Funding detailFunding overview
Funding rounds1 record
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Westfield Bank M&A and investment
M&A and investmentM&A1 record
Investments1 record
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Westfield Bank
What does Westfield Bank do?
Westfield Bank is a community bank providing deposit accounts, consumer and commercial loans, mortgages, credit cards, merchant services, municipal banking, payroll referral services, and investment services through 25 branches across western Massachusetts and northern Connecticut, supported by mobile and online banking. It serves individual consumers, small and mid-sized businesses, municipalities, healthcare organizations, property managers, attorneys, CPAs, and non-profit organizations with relationship-based local decision-making.
Is Westfield Bank a public or private company?
Westfield Bank is a public company. It is classified as corporate owned and is currently acquired.
When was Westfield Bank founded?
Westfield Bank was founded in 1853. It employs 251 to 500 people.
Where is Westfield Bank based?
Westfield Bank is headquartered in Westfield, United States, in the North America region.
How does Westfield Bank make money?
Six revenue lines are on record. Interest Income from Lending is the primary driver. The others are deposit Account Fees and Interest Spread, credit Card Processing, merchant Services, payroll Services and investment Services.
Who are Westfield Bank's main competitors?
Webster Bank is listed as a broad incumbent. Direct peers are Salem Five, Cambridge Bancorp, Rockland Trust (Independent Bank Corp), Berkshire Hills Bancorp, Eastern Bankshares, Brookline Bancorp and United Bank (United Financial Bancorp). Regional players are Monson Savings Bank and Florence Bank.
Does Westfield Bank have an API?
No public API is recorded for Westfield Bank.
What industry is Westfield Bank in?
Westfield Bank's product category is Community Banking. Its primary akta.pro industry code is FSABABAC, SME Deposits & Business Accounts (Operating, Savings, CDs), with a secondary code of FSABAAAA, Mass-Market Consumer Deposit Banking (Checking/Savings). Its NAICS code is 52211 and its SIC code is 6022.