Hampden Bancorp Declares Dividend

SPRINGFIELD — Hampden Bancorp Inc. recently announced a net loss for the three months ended Dec. 31 of $670,000 as compared to a net profit of $190,000 for the same period in 2008. The decrease in net income was primarily due to an increase in the provision for loan losses of $1.5 million for three months ended Dec. 31, compared to the three months ended Dec. 31, 2008. The increase in the provision for loan losses is due to increases in loan delinquencies, increases in non-accrual loans, increases in impaired loans, growth in the loan portfolio, and general economic conditions. The company’s total assets increased $7.2 million, or 1.3%, from $567.7 million on June 30, 2009 to $574.9 million on Dec. 31, 2009. Net loans, including loans held for sale, increased $21.7 million, or 5.6%, to $409.3 million on Dec. 31, 2009, and securities decreased 6.7% or $7.7 million, from $116.1 million to $108.4 million as of Dec. 31, 2009. Deposits increased $22.9 million, or 6.0%, to $404.4 million on Dec. 31, 2009 from $381.5 million on June 30, 2009. Thomas R. Burton, president and CEO, noted he was disappointed to be reporting a loss; however, he added that the bank’s strong capital position leaves it “well-postured” to weather the difficult economic storm and to capitalize on opportunities as they arise. In other news, the board of directors declared a quarterly cash dividend of $0.03 per common share, payable on Feb. 26, 2010, to shareholders of record at the close of business on Feb. 12.

Mercy Offers Latest GE MRI Technology

SPRINGFIELD — Mercy Medical Center now offers the Signa HDx 3.0T MR system, by GE Healthcare, delivering the most advanced detailed images of the human body with increased speed, better resolution, and unique applications. The 3.0T MR scanner is noted for delivering high field strength that provides higher-resolution imaging, according to Dr. Gregory E. Blackman of the Diagnostic Imaging Department. Blackman added that the scanner features allow for more-distinct margins in patients who present with breast tumors, provide more detailed and accurate images of the spine, and greatly facilitate liver and vascular exams. Dr. William Bithoney, chief medical officer for the Sisters of Providence Health System and chief operating officer of Mercy Medical Center, noted that the acquisition of the 3.0T MR scanner is another example of Mercy’s ongoing commitment to delivering outstanding health care through the use of state-of-the-art technology. The MR system provides MRI exams through a joint venture with Alliance Imaging Inc.

Tighe & Bond Receives Award

WESTFIELD — Tighe & Bond recently received an Engineering Excellence Award from the American Council of Engineering Companies of Connecticut (ACEC) for the Route 34 Roadway Improvement Project in New Haven, Conn. The award was presented Jan. 21 at ACEC’s annual awards banquet following a competition open to firms engaged in the practice of consulting engineering in Connecticut. Tighe & Bond developed roadway-improvement concept plans to support the traffic generated by the $467 million Smilow Cancer Hospital at Yale-New Haven, as well as to address existing operational and safety deficiencies along the Route 34 expressway and the frontage roads. The firm completed a comprehensive transportation engineering study required by the City of New Haven and the State Traffic Commission. Improvements to the adjacent roadway network were deemed necessary to mitigate the identified traffic issues. The centerpiece of Tighe & Bond’s design is a modern roundabout, unique in that it is located at the end of the Route 34 Expressway and provides access to a parking garage. Tighe & Bond also prepared the design for other roadway improvements, including highway ramp widening, geometric modifications along the Route 34 Expressway, widening North Frontage Road to provide additional turning lanes, and the design of a new, state-of-the-art traffic-control signal system involving 12 traffic signals operated and monitored by the City Traffic Management Center. Following the completion of the design and issuance of all permits, Tighe & Bond worked collaboratively with Yale-New Haven Hospital and Turner Construction Co. to administer the construction phase of the project. Construction of the $5 million project started in May 2008 and was substantially complete by October 2008, meeting an aggressive five-month construction schedule. Tighe & Bond shared the ACEC award with Yale-New Haven Hospital. In related news, the Route 34 Roadway Improvement Project also received a 2009 Achievement in Civil Engineering Award from the Connecticut Society of Civil Engineers.

GCB Opens Branch in Shelburne Falls

SHELBURNE FALLS — Greenfield Co-operative Bank (GCB) recently observed the grand opening of its newest office at 33 Bridge St. The new full-service office offers a full array of savings and checking services, safe-deposit boxes, residential mortgage loans and home-equity lines of credit, consumer loans, a coin-counting machine, a 24-hour ATM, and a night depository. Through its Web site at www.bestlocalbank.com, GCB also offers customers free 24-hour ‘E-Access,’ providing online banking and bill-paying services. The bank also offers free, 24-hour E-Z Access telephone banking. Additionally, through its GCB Financial Services division, the bank makes available a full line of non-deposit investments such as annuities and life-insurance products through its arrangement with MML Investor Services and Massachusetts Mutual Life Insurance Co. Registered representatives Michael Johnson, assistant vice president; and Sharon Connery, financial services professional, will be available to meet with customers by appointment at the Shelburne Falls office. The new office will also have a community room that the bank will make available at no charge on a reservation basis to nonprofit, civic, and educational groups in the community. GCB is a mutual, cooperative bank with five offices and more than $280 million in assets.

Students Pass Photovoltaics Program

SPRINGFIELD — All of the students who recently completed the Photovoltaic Practitioner Certificate Program at Springfield Technical Community College (STCC) passed the entry-level knowledge exam administered by the North American Board of Certified Energy Practitioners, according to Mary Breeding, assistant vice president at STCC. Breeding added that the program has also been awarded program accreditation by the Interstate Renewable Energy Council. Due to the popularity of this program, Mike Kocsmiersky of SolarWrights Inc. has begun teaching another course through the Center for Business and Technology this month. The Photovoltaic Practitioner Certificate Program is designed for architects, engineers, electricians, general contractors, and those interested in developing a career in photovoltaics. The course provides comprehensive coverage of stand-alone, utility-interactive, and dedicated-load applications for solar electricity. Curriculum development and acquisition of lab equipment is being supported by a $150,000 grant from the Massachusetts Clean Energy Center.

Baystate Rug Receives Award

CHICOPEE — Baystate Rug and Flooring was recently named Mohawk Floorscapes Northeast Flooring Store of the Year. Mohawk chose Baystate Rug based on sales, growth, marketing principles, and best practices. Baystate Rug is a family-owned business that has served both business and residential customers for more than 30 years.

Chicopee Company Updates Its Name

CHICOPEE — Time Plus Payroll Services has changed its name to Pioneer Payroll Services to better reflect the ever-growing list of services it provides to companies. The Time Plus name and brand is the payroll-software and corporate group that Pioneer Payroll Services uses to perform its various payroll and timekeeping services. Pioneer Payroll Services also provides workers’ compensation, an HR Support Center, Pay Card, and electronic timekeeping. The company is located at 21 Old Chicopee St., and early in 2010, it will update its Web site to www.pioneerpayroll.com. E-mail may be sent to pioneer@pioneerpayroll.com.

Life Laboratories Achieves Accreditation

SPRINGFIELD — Life Laboratories has been awarded accreditation by the College of American Pathologists (CAP), based on a recent on-site inspection. The CAP Laboratory Accreditation Program is recognized by the federal government as being equal to or more stringent than the government’s own inspection program. During the CAP accreditation process, inspectors examine the laboratory’s records and quality control of procedures for the previous two years. Inspectors also examine the staff’s qualifications, lab equipment, facilities, safety program and record, as well as the overall management of the laboratory. The inspection program is designed to specifically ensure the highest standard of care for the laboratory patients.

Life Laboratories employs 230 people and conducted over 2.7 million test results in the past year. In addition to the main laboratory, located at Mercy Medical Center at 299 Carew St., there are 16 patient service centers located throughout Western Massachusetts and Connecticut. An outreach program also services more than 50 long-term care facilities. CAP is a medical society serving nearly 17,000 physician members and the laboratory community throughout the world.