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  • Comment Detail

  • Date: 07/03/24
    First Name: Walter
    Last Name: Dwyer
    Email: Wdwyer@bankmainstreet.com
    Organization Type: organization
    Organization: Main Street Bank

  • Comment

    Main Street Bank is a mutual savings bank headquartered in Marlborough, MA. We serve the Metrowest and North Central parts of the state. We are a fairly typical community bank, with roughly 50% of our assets being residential mortgage loans, with another ~35% in commercial. We have long depended on the FHLB to assist with short- and medium-term funding needs. We do sell loans into the secondary market through both FNMA and FHLMC, but not every loan in our community fits into those "boxes", so we remain committed to keeping a portfolio of loans in-house. Our commercial loans are also almost entirely in our market area, and having access to liquidity enables us to serve the needs of small businesses and property owners in our communities. In addition to assisting with liquidity, the availability of a broad range of advance structures allows us to better maintain our interest rate risk. In summary, we LOVE the FHLB system! It helps us to achieve our mission, and losing access to this wonderful resource would be a severe detriment to our institution and the communities we serve.