Bank of Canton Partners with City of Quincy on “At Home in Quincy” Program

January 6, 2010 – Stephen P. Costello, President and CEO of Bank of Canton, is pleased to announce the Bank’s participation in the City of Quincy’s “At Home In Quincy” program. Through this program, the Bank will help working families who need financial assistance to purchase their own home. The city’s Affordable Housing Trust Fund (AHTF) has set aside $500,000 for “At Home In Quincy” which will target individuals, couples and families who earn up to 120-percent of the area’s median income ($105,720)

“We’re thrilled to be a participating lender for the ‘At Home In Quincy’ program and will continue our commitment to making affordable home mortgages available to homebuyers in the Granite City,” said Mr. Costello. “This program covers required mortgage insurance making purchasing a home more affordable for low-to-moderate income families and individuals. We’re proud to be associated with such an innovative program.”

“Bank of Canton has been extremely active in helping so many working families in Quincy achieve the American Dream of home ownership and we’re thrilled to have them participate in the ‘At Home In Quincy’ program,” said Mayor Thomas P. Koch. “We are thankful for their ongoing commitment to our community.”

The City of Quincy is accepting and reviewing applications from potential homebuyers and referring borrowers to an approved lender for pre-approval. Bank of Canton is one of two lenders approved by the AHTF to participate in ‘At Home In Quincy.’

The AHFT, established in 2001, is funded through payments by developers who contribute one-time payments equal to the cost of the required affordable housing units in each construction project. For more information, please contact Judy Farmer at Bank of Canton at 617.770.1894.