Foreclosures continue to rise
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Urban areas continue to suffer amid a national housing crisis, with cities such as Haverhill, Lynn, and Malden posting double-digit increases in the number of foreclosure deeds recorded in October compared with the same month a year ago, according to new data published by The Warren Group of Boston.
Lynn had 35 homes sold at foreclosure for the month, a 94 percent increase over October 2007, when 18 homes were sold at auction. In Malden, 14 homes were foreclosed and sold, compared with nine the year before, a 60 percent increase. Haverhill had 19 homes sold at auction for the month, a 46 percent jump from last year, when 13 homes were sold.
Foreclosure deeds are the final step in a process that starts with a notice filed in state Land Court or at county registry of deeds offices. Statewide, foreclosure deeds jumped 34 percent in October compared with the same month in 2007. October data, released late last month, is the most recent available.
Essex and Middlesex counties have been among the areas hardest hit by foreclosures statewide. In Essex County, foreclosure deeds rose 81 percent to 140, compared with 77 in October 2007. Middlesex County had 146 foreclosure deeds recorded for the month, a 39 percent increase from a year ago, when 105 homes in the county were sold at auction.
The bank last month issued 162,000 shares of stock, valued at $1.5 million, to all employees who worked at the bank as of Oct. 13. The number of shares employees received was based on their job category and years of service, but everyone received at least 50 shares worth about $9 each in last week's trading. About 10 percent of the workforce has worked at the Peabody-based bank for 20 years, officials said.
"We have a lot of people with longevity here," said Lisa Kornachuk, the bank's marketing officer. "This is our way of saying thank you to them for helping us build the bank up."
But the equity stake in the 160-year-old bank isn't entirely a gift. It also aims to motivate employees to work more efficiently across the bank's 12-branch network. The more money the bank saves on operating costs, the better the stock will do on Wall Street.
"Our employees now own part of the bank," Kornachuk said. "They know we work for our customers."
"It's our community," said Laurie Page, a part owner of the 87-year-old family company. "We have a lot of mothers working here. We can sympathize. It is very hard to provide for a family."
Page Insurance is one of 14 local businesses and organizations whose employees have aided families affected by domestic violence. Others include the Institution for Savings, Currier & Associates, Valentino Salon, Chase & Lunt Insurance, Interlocks Salon & Day Spa, Carry Out Cafe, and St. Paul's Episcopal Church in Newburyport; Home Made Brand Foods of Newbury; Munters Corp., Amesbury Industrial Supply Company, and Educational Childcare in Amesbury; and Andover Healthcare and Latitudes Sports Club in Salisbury.
Giving trees at each location list what families need. Donations will be accepted through Wednesday. Page Insurance is collecting gifts for three single mothers whose children range in age from a 6-year-old girl with Down syndrome to a 13-year-old boy.
Jabberwocky and The Book Rack, book shops in Newburyport, have trees filled with suggestions to buy a good book for kids served by the Geiger center. "This is the first time we've attempted to give a book to each child with whom we work," said Cintra Warden, the center's volunteer coordinator.
Kathy McCabe can be reached at kmccabe@globe.com. 
