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Armory project moves forward amid tight construction market

5/19/2021
Armory project moves forward amid tight construction market
A developer is working to turn the former Woonsocket Armory at 316 South Main St. into an arts center. (Breeze photo by Lauren Clem)
WOONSOCKET – A New Hampshire-based developer is moving forward with his plans to turn the former Woonsocket Armory into an arts center, though city officials are split on how many incentives to offer the project.
Brian Thibeault, who also owns the Pawtucket Armory Arts Center and The Times building in Pawtucket, told The Breeze he has closed on the purchase of the South Main Street property from Saint James Baptist Church. Over the past year, he said, he’s done minor work to protect the building from further water damage. ....

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Heritage Commerce Corp Earns $11.2 Million for the First Quarter of 2021

Heritage Commerce Corp Earns $11.2 Million for the First Quarter of 2021
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Heritage Commerce Corp Declares Regular Quarterly Cash Dividend of $0.13 Per Share

Heritage Commerce Corp Declares Regular Quarterly Cash Dividend of $0.13 Per Share
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Heritage Commerce Corp Earns $11.2 Million for the First Quarter of 2021

Heritage Commerce Corp Earns $11.2 Million for the First Quarter of 2021
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Heritage Commerce Corp Reports Earnings of $11.6 Million for the Fourth Quarter of 2020 and $35.3 Million for 2020

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The CARES Act was recently amended to include $3.5 billion of extended debt relief payments for SBA borrowers. The program will initially provide for 3 payments of principal and interest to a maximum of $9,000 per month under various criteria and then an additional 5 payments for borrowers considered “underserved” as defined in the amended legislation.
Credit Quality and Performance
At December 31, 2020, NPAs declined by $1.9 million, or (20%), to $7.9 million, compared to $9.8 million at December 31, 2019, and decreased by $2.4 million, or (23%) from $10.3 million at September 30, 2020. Classified assets increased to $34.0 million, or 0.73% of total assets, at December 31, 2020, compared to $32.6 million, or 0.79% of total assets, at December 31, 2019, and $33.0 million, or 0.72% of total assets, at September 30, 2020. ....

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