EXHIBIT 21 SUBSIDIARIES OF THE COMPANY The Company owns 100% of the capital stock of the Springfield Institution for Savings, a Massachusetts chartered stock savings bank ("Bank"). The Company, through the Bank, owns 100% of the capital stock of each of the following subsidiaries, all of which are Massachusetts corporations (unless otherwise indicated) and all of which are included in the Company's consolidated financial statements: (1) Commerce Properties, Inc. (2) Properties Two, Inc. (Connecticut corporation) (4) Village Park Properties, Inc. (Georgia corporation) (5) SIS Investment Corporation (6) SIS Investment Corporation II (7) Sherman Street Corporation (8) SIS Center, Inc. (9) Newgate Corporation (10) Colebrook Corporation (11) Colebrook-Leominster, Inc. The Company also owns 100% of the capital stock of each of the following subsidiaries through the Bank and Colebrook Corporation, all of which are Massachusetts corporations (unless otherwise indicated) and all of which are included in the Company's consolidated financial statements: (1) Colebrook Realty Services, Inc. (2) Colebrook-Diamond, Inc. (3) Colebrook-Riverdale Corporation (4) New Marlboro Corp. (5) Colebrook-Woodcrest, Inc. (6) Colebrook/Westor, Inc. (7) 140 Glastonbury Boulevard, Inc. (Connecticut Corporation) (8) Overlook, Inc. In addition, the Company owns, either directly or through the wholly owned subsidiaries of the Bank and Colebrook Corporation specified below, the percentage interest in the partnership or corporation set forth opposite each such wholly owned subsidiary. SUBSIDIARY PARTNERSHIP OR CORPORATION OWNED PERCENTAGE INTEREST - ---------- -------------------------------- ------------------- (1) Colebrook-Woodcrest, Hillman Associates 50% general partnership Inc................. Partnership #4 Waltham Medical Associates 12.5% limited partnership Limited Partnership Wiljon Partnership 50% general partnership (2) New Marlboro........ Francoline Colebrook 50% general partnership Partnership #7 (3) Colebrook/Westor Westor Corporation 50% stockholder Corporation......... Westor Partnership 1% general partnership (98% limited partnership owned by Westor Corporation). (4) Overlook, Inc. ..... Chester Commons 99% limited partnership (5) Sherman Street Van Der Hayden 1% general partnership Corporation.........