Belmont Savings, Tolman honored by Chamber of Commerce

Belmont Savings Bank and retiring were honored by the at its annual awards dinner to highlight individuals and organizations who have made significant contributions to the local business community this year. 

“We’re honored to be a part of these communities and accept this award from the Watertown-Belmont Chamber of Commerce” said Bob Mahoney, chief executive officer of Belmont Savings Bank.

Tolman was this year’s award recipient of the Stanley Porter Award – Person of the Year for outstanding dedication and achievement in serving the community as an involved citizen. Tolman retired from the senate to become the head of the state's AFL-CIO.

“Growing our local economy requires strong businesses and we’re committed to investing right here in Belmont and Watertown. As the big banks consolidate and add fees we’re creating innovative new products for local business owners and establishing the Belmont Savings Bank Foundation to help our local communities grow and prosper.”

The awards were presented by Brenda Fanara, executive director of the Watertown-Belmont Chamber of Commerce at the annual awards dinner held Nov. 3 at Belmont Country Club in Belmont.

"It's been a very exciting year for Belmont Savings Bank, with new products, a successful IPO and a new branding campaign. Because of the leadership role the Bank has taken in the communities and the dedicated commitment the bank has made towards community events through sponsorship and involvement, the Watertown-Belmont Chamber of Commerce is proud to present this award to Belmont Savings Bank," said Fanara. 

Belmont Savings Bank recently completed an oversubscribed IPO raising $84 million dollars. Mahoney noted this capital will allow Belmont Savings to further invest in the community with more loans to small business.