Industry News

Webster Bank Passes 2017 Dodd-Frank Stress Test

Webster Bank Passes 2017 Dodd-Frank Stress Test

The capital ratios of Webster Financial Corp. and its $26 billion asset subsidiary, Webster Bank, would exceed regulatory minimums during a severely adverse economic time period, according to the company’s latest Dodd-Frank stress test results.

Fannie Mae’s Economic Forecast Unchanged By Hurricanes

The 2017 economic growth forecast remains unchanged at 2.2 percent following expected offsetting hurricane-related impacts to GDP growth in the third and fourth quarters, according to the Fannie Mae Economic & Strategic Research (ESR) Group’s October 2017 Economic and Housing Outlook.

Milford Bank Withdraws Branch Application

Milford Bank Withdraws Branch Application

Milford Bank has withdrawn its application to open a limited branch in Guilford, according to a recent notice from the Connecticut Department of Banking.

Guilford Savings Bank Completes $10.8M In Financing For Flanders Plaza

Guilford Savings Bank Completes $10.8M In Financing For Flanders Plaza

Guilford Savings Bank recently completed financing for the 60,000-square-foot Flanders Plaza Shopping Center in East Lyme. The plaza holds CVS, IGA Tri-Town Foods and other retailers and offices. Manhattan-based Developers Consolidated Realty LLC acquired the site. “Flanders Plaza fits perfectly into our acquisition criteria as an ‘Internet proof’ plaza in an affluent community,” Dan...

Connecticut Joins Lawsuit Defending Affordable Care Act

Connecticut joined with 17 other states and the District of Columbia in filing a lawsuit against the Trump administration’s decision to abruptly stop making health care cost-sharing reduction (CSR) subsidy payments required by the federal Affordable Care Act (ACA) – a move that will put health coverage for more than 6 million Americans at...

Rollout Begins For New State Standards For Commercial Tax Preparers

New state standards for commercial tax preparers went into effect on Oct. 1. The new state law aims to protect taxpayers from unfair business practices and assure that income tax preparers are qualified. “This was a major initiative for us and long overdue. Connecticut will now provide the most comprehensive standards for commercial tax...
Salisbury Bank Names New CFO

Salisbury Bank Names New CFO

One day after announcing the resignation of CFO Donald E. White, Salisbury Bancorp Inc., the holding company for Salisbury Bank and Trust Co., has found its replacement.