A “tax-straddle” situation occurs when a taxpayer initiates a 1031 Exchange near the end of their tax year, and it extends into the following year. Read our latest article for the key considerations you or your clients should be aware of for an exchange that spans two years.

As artificial intelligence continues to transform the world, it also introduces new avenues for cybercriminals.

Learn to turn your capital gains into a strategic advantage and unlock tax-free growth while building stronger communities.

Local banking partner brings neighbors together to nourish families across Middlesex County

As a small business owner, your company is more than just a job. It's a significant part of your life and your family's future.

As a business owner, you work hard to protect your company's assets and ensure your employees are paid accurately and on time. 

Community Investment Supports Year-Long Milestone Celebration for Local Youth Development Organization

A strong wealth management partner simplifies complex rules, helping lower tax bills, boost retirement savings, and transform business success into lasting personal wealth.

Northern Bank is partnering with Solex HCM to bring payroll and human resources solutions directly to business clients.

Northern Bank is pleased to announce Devon K. Fee as the recipient of the 2025 James E. McGarry, Jr. college scholarship.

Your financial journey is more than just numbers, it’s about your dreams, your security, and your legacy. This Elder Abuse Awareness month, we’re sharing warning signs to help you stay vigilant and protect against fraud.

There's nothing like the feeling of owning your own home. At Northern Bank, we get that. We work to make homeownership possible for clients like Jose, who our first-time homebuyer specialist worked side-by-side with until they achieved their dream.

For many business owners, it’s difficult to imagine life without their business. While it’s easy to put off planning, preparing for an...

In today's digital landscape, your business's greatest asset isn't just its products or services, it's trust.

For many business owners, it’s difficult to imagine life without their business. While it’s easy to put off planning, preparing for an...

Northern Bank is celebrating Financial Literacy Month through educational initiatives designed to empower individuals at every life stage.

As the tax season approaches, it’s essential for working individuals to stay informed about recent changes to ensure accurate and compliant tax returns, potentially maximizing refunds.

Northern Bank is thrilled to announce the appointment of Dan Connelly as Managing Director of Northern Advisory Services, a specialized division of Northern Bank.

Learn what constitutes a related party 1031 Exchange, rules and conditions, and what real estate investors need to know.

Financial wellness is the state of having a healthy relationship with your finances, where you effectively manage your money, plan for the future, and feel secure in your financial decisions.

Whether you're looking to expand your business, strengthen your operations, or plan for the future, the Know & Grow series offers the knowledge and support you need to achieve your goals.

Financial wellness is the state of having a healthy relationship with your finances, where you effectively manage your money, plan for the future, and feel secure in your financial decisions. Achieving financial wellness doesn’t happen overnight — it is a process that may take time and effort to achieve.

Bank changes shouldn't slow down your business. As your trusted partner, we'll help you stay ahead with practical steps to navigate any transition smoothly.

Northern Bank announced today that it would begin accepting applicants for its annual $5,000 college scholarship award.

This Giving Tuesday, Northern Bank is excited to share the recipients of a recent community giving initiative at the Bank’s Sudbury location.

Northern Bank employees came together this week to assist a family moving into permanent housing through Heading Home’s premier volunteer experience – the Up & Out Program.

To stay true to our commitment of providing our customers with the highest level of service, we're here to let you know about the latest bank phone call scam.

Northern Bank has been a longstanding partner for the McKeown Boys & Girls Club of Woburn and recently announced a 60K community match donation.

Northern Bank is excited to announce the launch of a community giving initiative at the Bank’s Sudbury location, featuring a custom, oversized piggy bank.

Northern 1031 Vice President Michele Fitzpatrick shares insights on reverse exchanges and options for exchanges in a competitive real estate market.

Commercial Loan Officers join Northern Bank, strengthening our commitment to economic growth in local markets.

Madeleine P. Smack is the 2024 winner of Northern Bank’s annual James E. McGarry, Jr. college scholarship.

Northern 1031 Vice President Michele Fitzpatrick shares expertise on how to make sure your 1031 Exchange transaction is safe and secure.

Northern Bank announced today that it would begin accepting applicants for its annual $5,000 college scholarship award.

A group of Massachusetts-based banks recently celebrated a campaign that raised awareness and $300,000 for nonprofit Heading Home, which works to end homelessness.

In our interconnected world, institutions must share data to fulfill even the most basic business functions.

Northern Bank, a full-service business bank, today announced the appointment of business development managers Yomaira “B” Rosario and Joe Todisco to two branches in Woburn.

Ryan T. Bellemore is the 2023 winner of Northern Bank’s annual James E. McGarry, Jr. college scholarship.

Northern Bank employees recently helped a displaced family move into permanent housing through nonprofit Heading Home's “Up & Out” program.

Every month, our 1031 exchange team hosts a live webinar that explains how it helps investors defer taxes on investment properties. 

Northern Bank, a full-service community and business bank, today announced the addition of ZEscrow and ZRent to its growing portfolio of digital financial solutions. 

Radio advertisements touting Northern Bank client “success stories” begin airing today during all Boston Red Sox home game broadcasts on WEEI-FM Boston (93.7).

Northern Bank is closely following the recent news involving other banks. While we can’t speak for any other bank, we can say with confidence that Northern Bank has always been guided by common sense, avoiding pitfalls that are reported to be affecting others. 

Northern Bank, a full-service community and business bank, today announced that it would begin accepting applicants for its annual $5,000 college scholarship award.

Northern Bank, a full-service community and business bank, has been named by the U.S. Small Business Administration (SBA) as the top lender in Massachusetts to small businesses in the accommodations industry for the second consecutive year. It also ranked first this year in SBA loans made to new businesses in the Bay State.

At Northern Bank, protecting you from fraudulent activity and raising awareness about current criminal schemes is a top priority. 

Northern Bank, a full-service community and business bank, today announced it joined the American Bankers Association and banks across the nation to promote an industry-wide campaign educating consumers about the persistent threat of phishing scams.

Northern Bank, a full-service community and business bank, today announced the appointment of Justin Thomas as its new Head of Community Lending and Vice President.

The Northern Bank Charitable Foundation awarded a grand total of $20,500 in grants to three local nonprofits with a little help from the community and one giant piggybank.

Brigid McCarron is the 2022 winner of Northern Bank’s annual James E. McGarry, Jr. college scholarship.

Northern Bank employees stepped up to the plate in July to help a displaced family move into permanent housing.

Anyone who visits Northern Bank in Stoneham will have a say in how the bank directs charitable donations to three local nonprofits.

The Northern Bank Charitable Foundation recently awarded a $40,000 grant to the Nashoba Learning Group, a school for children and adults with autism.

A group of employees recently participated in a "spring cleanup" at an emergency shelter and transitional housing center run by Heading Home, a nonprofit agency that works to end homelessness.

Northern Bank, a full-service community and business bank, today announced the appointment of Charles Smith as its new Head of SBA Lending.

Northern Bank, a full-service community and business bank, today announced the appointment of Jessica P. D’Angelo as its new Head of Franchise and Restaurant Lending.

In February, Northern 1031 Vice President Michele Fitzpatrick spoke with host Larry Lawfer of Broker-Talk, a real estate insiders show on YouTube. 

Northern Bank information security officer Raj Sharma is paired with a local college student in a statewide mentorship effort created to encourage diversity among cybersecurity professionals in Massachusetts.

Northern Bank, a full-service community and business bank, today announced that it would begin accepting applicants for its annual $5,000 college scholarship award. All graduating high school seniors, who have a parent or legal guardian employed as a police officer or firefighter in Middlesex County, are eligible to apply.

Criminals are more active than ever when is comes to tricking small business owners into handing over cash or sensitive banking information. It’s estimated that five percent of business revenue is lost to fraud each year, according to the Association of Certified Fraud Examiners. Learn more about how you can protect your business from fraud. 

Northern Bank, a full-service community and business bank, has been named by the U.S. Small Business Administration (SBA) as the top lender in Massachusetts to small businesses in the accommodations industry. Northern Bank ranked first in SBA loans made to Massachusetts restaurants, which is considered part of the accommodations industry. 

As we ring in the New Year and build resolutions, please consider adding safe cyber hygiene habits to your list. To help, I’ve gathered some best practices for 2022 that we should all strongly consider implementing.

In December, Northern 1031 Vice President Michele Fitzpatrick spoke with host Rick Kaplan of the NEREJ Podcast. 

Heading Home, a nonprofit agency that works to end homelessness, recently dedicated one of its homeless shelters to Northern Bank volunteers.

Northern Bank’s 13^th location celebrates opening with prize drawings

John Starling, Senior Vice President of Northern 1031 Exchange, answers frequently asked questions regarding like-kind exchanges in a 2019 article published in the New England Real Estate Journal. 

The IRS provides a safe harbor for vacation rentals. In the 2018 New England Real Estate Journal article written by Northern 1031 Exchange Senior Vice President, John Starling, he highlights the details and the differences between a second home and a vacation rental. 

2020 was quite a year and presented many challenges. In this New England Real Estate Journal, 2020 Year in Review Spotlight Edition, Northern 1031 Exchange Vice President, Michele Fitzpatrick, reflects on the unprecedented year and the many positive aspects that came out of working through the pandemic.

The New England Real Estate Journal featured Northern 1031 Exchange Vice President, Michele Fitzpatrick, in the September 2020 “Women in Real Estate” Spotlight Edition. 

In this article published in the September 2020 New England Real Estate Journal, Northern 1031 Exchange Vice President, Michele Fitzpatrick, shares the many reasons why real estate investors choose to exchange properties. 

In this episode of Everything Real Estate hosted by Realtor Randy Herman, our Northern 1031 Exchange Senior Vice President, John Starling, takes a deep dive into the basics of 1031 Exchange. He discusses the advantages of using 1031 to defer taxes, the types of properties that qualify and ways to structure an exchange, including forward, reverse and improvement exchanges.

In June 2021, Northern 1031 Exchange Vice President, Michele Fitzpatrick, spoke with Amanda Farrell of PropLogix. Fitzpatrick discussed the 1031 Exchange process and how title agents can assist their clients through the transaction. 

Taxpayers can use both a 1031 Exchange AND the 121 primary tax exemption to create “The Great Real Estate Tax Break.” In an article written by John Starling, Northern 1031 Exchange Senior Vice President, he outlines detailed examples of properties that could combine these two tax codes for maximum savings.

Can you sell your property to a related party and still qualify for a 1031 tax deferred exchange? Can you buy your replacement property from a related party and still qualify for an exchange? John Starling, Senior Vice President at Northern 1031 Exchange, answers these important questions in a 2018 edition of the New England Real Estate Journal. 

With the holiday season approaching, most of us will be starting our online shopping. While it is super convenient, online shopping is also an opportunity for criminals to steal your personal information and money. The good news: By following some simple steps you can protect yourself from being a victim of fraud.

Before entering personal information on a website, make sure the site is legitimate and safe. A site that displays “https” is secure. 

Exchanging in a “hot” real estate market is just as relevant today, as it was in 2017 when Northern 1031 Exchange Senior Vice President, John Starling, wrote this article for the New England Real Estate Journal. Selling a property in the current hot real estate market is the easy part. Buyers are plentiful and offers are high. However, securing a replacement property to buy in a hot market is where it gets tricky.

October is Cybersecurity Awareness Month, which was established to promote the role that cybersecurity plays in our everyday lives. Now in its 18th year, Cybersecurity Awareness Month was founded by the National Security Alliance and the Department of Homeland Security. Recently, ransomware attacks have hit our schools, small businesses, etc. and are a major focus of this year’s Cybersecurity Awareness Month. Ransomware is a form of malware that encrypts a victim's files and folders.

Lately, the Tax Reform Bill and proposed cap on Like Kind Exchanges (LKEs) has been making headlines. This cap will impact real estate investors who utilize exchanges to grow and diversify their businesses. As Congress continues to debate the Tax Reform Bill, the benefits of 1031 exchange continue to mount. Like many other financial institutions, Northern Bank is working on understanding the Bill’s impact on investor clients and addressing their concerns.

An imposter scam occurs when an individual, or a group of people, trick victims into sending money or providing confidential information. Your information is then used to steal your money or identity. Imposter scams are conducted using various methods. A phone call used to be the most popular but has since been replaced with emails and texts. Despite the sophistication of modern impersonation scam techniques, there are simple ways to protect yourself.

Mobile devices have become an integral part of everyday life, storing personal and important information, including pictures, emails, apps, and financial accounts. Almost anything that can be done on a computer can now be done from a mobile device. As mobile devices become even more robust, it becomes even more critical to maintain device security. Our mobile security tips, combined with staying vigilant, can help mitigate your risk of cyber attack.

In memory of Jim McGarry, the Northern Bank Charitable Foundation would like to extend a big congratulations to the 2021 James E. McGarry Jr. Scholarship recipient Luke Witherell of Littleton. The scholarship was established in 2014 to honor the late “Jim” McGarry of Woburn and his 50 years of service at Northern Bank, as well as his lifelong affinity for, and ongoing support of the police and fire departments in the community.

What is identify theft and how does it occur? According to the FTC, identity theft occurs when someone uses your personal or financial information to make purchases, get benefits, file taxes, or commit fraud. It usually occurs due to a data breach where your personal information was stored somewhere and stolen. You can also become a victim if you provide your personal information to a malicious caller or if one of your personal passwords are compromised.

Did you know that summer is the busiest season in real estate? Northern Bank's Michele Fitzpatrick was recently invited to present a CE credit class for Cotter Law and the WFG Real Estate School, where the hot real estate market was the focal point of discussion. She was joined by Attorney Elizabeth Cotter of Cotter Law and Lisa Stills from WFG National Title Insurance Company.

The simplest way to protect yourself from fraud is to be aware. Recently during the pandemic, there’s been an increase in scammers making fake calls asking consumers to make payments with gift cards. Gifts cards are not to be used to pay the IRS, social security, tech support, or a family member. 

Every year, Earth Day sparks much reflection on green living and environmental protection. But how often do you think about the environment in relation to your banking habits? Fortunately, you can save the environment and your money with these four quick tips. 

Corporate Account Takeover occurs when cybercriminals gain unauthorized access to business accounts using various online tools. Leveraging these tools, cybercriminals can access online banking accounts and gather applicable information to conduct financial crimes. 

After thirty years in the financial services consulting sector, Tobey Kelly decided it was time to take a step back and develop a plan for her “second act.” In June of 2018, Tobey left her job in the corporate world and by November 2018, her and Tim were the newest franchisees for Goldfish Swim School in Milford, MA.

We have focused on who can utilize a 1031 Exchange, what types of properties qualify, when is the best time to exchange and most often, how the process works. However, it is equally as important to understand WHY investors exchange, so you can better determine if an exchange is right for your business.

When the state of Massachusetts shut down, the large Boston office buildings emptied. With that mass exodus, Myeong Lowe, founder and owner of Utopia Cleaners, witnessed the need for dry cleaning services plummet overnight; No button-down shirts, suits, and handle with care apparel required for these now remote workers.

The Northern Bank Charitable Foundation annually selects a child of one of our local police or firefighters as the recipient of the James E. McGarry scholarship. The 2020 scholarship winner, Samantha Galvin graduated with a 4.0 from North Reading High School and will be attending Harvard University in the fall.

COVID-19 has had a significant impact on the homeless families in our communities, with many going hungry.

During this challenging and uncertain time, our goal at Northern Bank is to provide the high level of service and support that we have delivered for the past 60 years. We know this current situation has not only impacted your everyday lives, it has also put an economic strain on many of our business and consumer customers.

In 1964, the Edward M. Connolly Insurance Agency, a family-owned business, moved into a charming yellow Victorian that once housed the J.M. Fletcher general store, circa 1855. In 1997 he purchased and renovated the building to make it their place of business and family home.

Now more than ever people are turning to their healthcare providers for guidance and support. Acton Medical Associates has remained committed to their patients during these challenging times, acting as a trusted resource for information and advice.

Libby Dagostino purchased the Littleton consignment shop, Options Boutique, in July of 2019. During the Pandemic, she tapped into the expertise of local businesses and loyal customers. “People were reaching out to me on a daily basis, offering advice and help.” 

Since the pandemic started, some projects have been put on hold, but fortunately, most of Sheila’s work has continued. Sheila Clarke, a Reading native and owner of M&H Interiors, shared that due to the stay at home order, people are now working from their kitchens or living rooms and those design projects are top of mind.

After more than a decade working in business development for international law firms, Lauren Macaulay was ready to explore a new career path. Hear Lauren's journey to becoming a TITLE Boxing Club franchisee and how she has pivoted during the Pandemic.

Center Stage in Melrose was forced to close their doors when COVID-19 struck. Navigating through this unprecedented time has not been easy, but not even a pandemic could stop this mother-daughter duo.

For over 14 years Joe Cataldo and his son Mike have run M.J. Cataldo, Inc., based in Littleton, MA. Their business specializes in site development, full-service landscaping and property maintenance. Hear how Team Cataldo, has adapted their day-to-day operations in response to the pandemic.

Tax season may feel like it’s far away, but it will be here before you know it, increasing the risk of online tax scams. There have been reported cases by the Federal Trade commission where criminals use another person’s social security number and file the tax return to get the tax refund.

Northern Bank has an honorable legacy of community service throughout Middlesex County. On Tuesday December 10th, Jim Mawn, President and CEO of Northern Bank, was honored as Heading Home’s Corporate Partner of the Year.

The FDIC published a consumer news article related to the risk of fake bank checks. Although a bank check is typically considered safer than a personal
check, there are certain scams that target potential victims.

Most kids today are plugged into devices like TVs, tablets, and smartphones well before they can even ride a bike. As our kids head back to school, social media usage will be on the rise. And as a result, kids can be exposed to unique risks in cyberspace.

Northern Bank recently achieved the “U.S. Small Business Administration Preferred Lender” designation, giving the bank the ability to provide small business loans to more companies and, in many cases, faster than ever before.

The Northern Bank Charitable Foundation awarded the 2019 James E. McGarry, Jr. scholarship to Kelsey Bozek. This scholarship, established in 2014, honors the late “Jim” McGarry of Woburn for his 50 years of service to Northern Bank.

Let's explore two 1031 Exchange Related Party questions related to buying and selling properties. (1) Can you sell your property to a related party and still qualify for a 1031 tax deferred exchange? (2) Can you buy your replacement property from a related party and still qualify for a 1031?

We are so very pleased to announce that this past month, the Northern Bank Charitable Foundation has surpassed the $1 Million mark in total giving since the Foundation began in 2012.

Northern Bank teamed up with New England’s Sony Michel and 98.5 the Sports Hub for their “Taking it to the House” campaign. As part of the campaign, Northern Bank donated $1,000 to Heading Home Inc. for every New England touchdown during the regular season.

Northern Bank was featured in the January 2019 edition of Condo Media. Pamela Schweppe explores how Northern Bank, headquartered in Woburn, MA, has a commonsense approach to banking solutions. 

The Northern Bank Charitable Foundation awarded the 2018 James E. McGarry, Jr. scholarship to Ryan Jefferson. This scholarship, established in 2014, honors the late “Jim” McGarry of Woburn for his 50 years of service to Northern Bank. 

Northern Bank was named the #1 Community Bank in New England by S&P Global Market Intelligence list of community banks in the $1 billion to $10 billion asset category. This marks the eighth consecutive year that Northern Bank has been selected as #1 on this industry list of top performers.

In the mid 1970’s, George Gately Sr. started a multi-generational relationship between his family and Northern Bank. Since then, three generations of Gately’s have partnered with Northern Bank to drive the growth of their business.

"We've used three banks since opening our business in 2007, our most recent move was to Northern Bank, we've found a home. They have exceeded our expectations by far."