 Centreville Bank Opens New Loan Office with Full-Service ATM/ITM
in Warren, R.I., Third Location in the East Bay Centreville Bank Charitable Foundation donates $5,000 to two area non-profits (WARWICK, R.I.) September 25, 2023 – Centreville Bank has opened a new loan production office with a full-service ATM/ITM (Interactive Teller Machine) in Warren, R.I. The announcement was made at a ribbon cutting and check presentation ceremony on September 19 at the new site, 957 Main Street. Earlier this year Centreville Bank opened another loan office in Middletown as well as a full-service branch in Newport. “We are delighted to open our new Warren loan office and ATM/ITM to the public so area residents and business owners can benefit from our services,” said Leland R. Merrill, executive vice president, chief lending officer, Centreville Bank. “Our ongoing goal is to increase access and availability to our products and services across the state. This office, which is our 14th Rhode Island location and third office in the East Bay, brings us closer to achieving this goal. The addition of the ATM/ITM also makes it easier for our Warren customers to bank with us 24 hours a day, seven days a week.” The Warren loan office is focused on commercial lending, business banking, residential mortgages, and home equity loans. Customers can meet with Centreville bankers by appointment and the office includes a walk-up ATM/ITM, which enables 24/7 banking and access to “live” customer service representatives Monday through Friday from 7:00 a.m. to 7:00 p.m. and on Saturday from 9:00 a.m. to 1:00 p.m Representatives from Centreville Bank's leadership team and staff, the East Bay Chamber of Commerce, Women’s Resource Center, East Bay Food Pantry, and other members of the business community were among the attendees. During the check presentation, Hal Horvat, President, CEO and Chairman of the Board of Centreville Bank said, “Our commitment to customers in the East Bay doesn’t stop with the opening of a new office, however. Through the Centreville Bank Charitable Foundation, we are proud to provide $2,500 grants to the Women’s Resource Center and the East Bay Food Pantry to support the great work they are doing.” Emily Mushen, Executive Director, East Bay Food Pantry said, “We are so grateful to the Centreville team for this generous donation. Food prices remain high and we see new families signing up every week for our food pantry services, so we will be able to put these funds to immediate use providing fresh, wholesome food to our neighbors. Partners like Centreville make it possible for us to provide this vital service in the East Bay.” "The Women's Resource Center is grateful for the generous support of Centreville Bank. Sponsorship gifts like this help us to raise awareness about the pervasive public health problem of domestic violence. As the only organization serving the East Bay these much-needed funds will support our education and advocacy programs that directly help individuals and families impacted by domestic violence, right here in our community," said Megan Whelan, Director of Client Services, Women’s Resource Center. To make an appointment at Centreville Bank’s new Warren loan office, contact:
VP, Commercial Relationship Manager psousa@centrevillebank.com 401-578-1210
VP, Residential Sales Manager NMLS#574370 ghelm@centrevillebank.com 401.413.3278 About Centreville Bank Founded in 1828 and headquartered in West Warwick, Rhode Island, Centreville Bank is a full-service mutual bank with over $2 billion in assets and 21 locations throughout Rhode Island and eastern Connecticut. Centreville understands the unique financial needs of individuals, families and businesses and offers a wide range of personal banking and commercial banking products and services including checking accounts, savings accounts, CDs, money market accounts, mortgages, business loans and more. Centreville is committed to its employees and the communities it serves, always striving to help people make progress and achieve their financial goals. That is progress on purpose. Visit centrevillebank.com, follow us on Facebook, LinkedIn and Instagram, or come into a branch or office to learn more. ###
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IT Security Tip: What are Zero-Day Vulnerabilities?
In the world of Cyber Security, the term “zero-day vulnerabilities” comes up often. What exactly does it mean and why do I care about it? After all, we are a small business and surely not worth anyone’s bother to “hack.” Nothing can be further from the truth. A zero-day vulnerability is a unique weakness in either software or hardware which has not yet been exploited by the hacking community and provides them with a brief window of opportunity to hack your systems before a fix is readily made available to you. IN other words, it is a hacker’s dream come true. Why should you care? Ideally, you shouldn’t. You should know that we care a tremendous amount and have gone to great lengths to protect you, your employees and customers from just such an exploitation. Let’s get back to that comment about “not being large enough for a hacker to target you.” Yes, it is true, governments and large organizations are under a 24/7 barrage of hacking attempts. What is also true is they spend millions upon millions of dollars every year just to keep up, never mind get ahead of the hackers. Hacking is a trillion-dollar business. That is true. And if you are a hacking concern you are going to look for “soft targets” or the low hanging fruit where you can make a few bucks. If you hit enough of these singles with small businesses that adds up quickly and you can make a good “living” at it. They know that most small businesses are too busy to have proper IT security hygiene and take advantage of that fact. This is one reason all of our clients are monitored 24/7 and scanned continually for probable threats. If you have a nagging suspicion this isn’t occurring for you, we should talk. Cybercrime is at an all-time high, and hackers are setting their sights on small and medium businesses who are “low hanging fruit.” Don’t be their next victim! To download this free report that reveals the most common ways that hackers get in and how to protect yourself today go to www.packetlogix.com CPAIRS Stops ERC claims!
The Employee Retention Credit (ERC) has gained wide publicity and numerous shops have popped up all over the United States and unfortunately many have been “false advertising” about businesses eligibility and how much money they will receive. We receive at least five calls per week offering to “gets us the money that is owed to us,” and messages that “you could receive up to $26,000 per employee.” These types of claims have caused an unprecedented IRS response. A recent moratorium on the processing of new claims has been enacted, at least through the end of this year. If you were legitimately eligible for the ERC (employee retention credit) your CPA could have run some computations to help you determine your eligibility. There were a few hurdles to jump over, and there wasn’t just “free money” out there because you had employees. The credit was refundable and based upon a business’s ability to pay workers through the COVID-19 pandemic even if their operations were fully or partially shut down or for those that saw a significant decline in gross receipts during the eligibility period. The credit was claimed on an amended form 941 (quarterly payroll tax return) generally for the periods of March 31, 2020, to September 30, 2021. Due to a slew of recent claims within the last 90 days, the IRS Commissioner reacted with the moratorium, because he said, these claims should be dissipating and not increasing. There have been criminal investigations and convictions related to false claims. To learn more, see this article in the Journal of Accountancy: https://www.journalofaccountancy.com/news/2023/sep/tsunami-of-erc-claims-required-irs-action-halt-fraud-experts-say.html submitted my M Hughes CPA & Company, LLC  This Week’s Cybersecurity Tip of the Week, provided by PacketLogix
IT Security Tip: Fake update prompts from popular software All software needs to be updated on a regular basis. This includes popular programs such as adobe reader, java, and other programs that you might use on a regular basis. Since most of these programs don’t auto-update, they have to ask you to do it. The bad guys have figured this out and use trickery to present you with fake update windows that look deceptively close to the real thing but will actually give you viruses or malware if you click on them. The best way to handle this is to either 1. Partner with an IT company that will handle 3rd party software updates automatically for you or 2. Only update this software from within the application itself. Updates can usually be found in the ‘help’ menu for most software. Cybercrime is at an all-time high, and hackers are setting their sights on small and medium businesses who are “low hanging fruit.” Don’t be their next victim! To download this free report that reveals the most common ways that hackers get in and how to protect yourself today go to www.packetlogix.com This Week’s Cybersecurity Tip of the Week, provided by PacketLogix
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