Banking and Lending
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.
Appeals Court Tosses Hedge Fund Owner’s Claims Against FBI
A hedge fund owner’s bid to hold the government responsible for an FBI raid that he says ruined his business was lost Tuesday when a federal appeals court rejected his lawsuit.
Bankruptcy Attorney Imprisoned For Embezzlement And Fraud
A bankruptcy attorney has been sentenced to prison for embezzling millions of dollars from his bankruptcy clients, and related fraud offenses.
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Milford Bank has withdrawn its application to open a limited branch in Guilford, according to a recent notice from the Connecticut Department of Banking.
Boston Fed President Expects 2 Percent Inflation By Next Year
Speaking at a conference in Boston Friday, Eric Rosengren said he also expects current low inflation, the main factor that could hamper projected interest-rate hikes, to get much closer to the Fed’s 2 percent target next year.
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...
Man Charged With Fraud, Identity Theft Targeting CT Residents
A Washington man was recently charged in New Haven on a four-count indictment on fraud and identity theft offenses.
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.
Bank Of America Profit Rises On Higher Rates, Lower Costs
Bank of America Corp. reported a 15 percent rise in third-quarter profit on Friday as the lender kept a tight leash on costs and benefited from higher interest rates.
Despite Popularity And Performance, Low Down Payment Loans Stigmas Persist
As home prices rise, a larger percentage of first-time buyers are putting down less than 20 percent to buy a home, according to the October Down Payment Report from Down Payment Resource.
Salisbury Bank CFO To Resign
The chief financial officer of Lakeville-based Salisbury Bank is leaving the company to pursue another career opportunity.
Citigroup Profit Rises On Asset Sale Gain, Lower Costs
Citigroup Inc. reported a higher quarterly profit as it kept costs lower, recorded a large gain from an asset sale and had a smaller-than-expected decline in trading revenue.
Activist Investor Lawrence Seidman Takes Stake In Simsbury Bank Parent Co.
Activist investor Lawrence Seidman has taken a 7.4 percent stake in SBT Bancorp, the holding company of Simsbury Bank, according to a regulatory filing from yesterday.
Goldman Creates ‘Brain Trust’ In Effort To Boost Deals Business
Goldman Sachs Group Inc. is betting it can get its money-making mojo back by pitching creative deals to big, complex clients, marking a return to its investment banking roots as trading revenue slows.
Residential Mortgage Delinquencies Hover Around 10-Year Low
Loan performance remained flat in July 2017 after hitting 10-year lows the previous month, according to a report released today from CoreLogic, a global property information and analytics firm.
Nutmeg State FCU Plans New Branch In Stratford
Nutmeg State Financial Credit Union has filed an application with the Connecticut Department of Banking to open its first full-service branch in Stratford at 250 Barnum Avenue Cutoff.
Ion Bank Foundation Awards $4K Grant To Naugatuck Youth Services
The Ion Bank Foundation has recently awarded a $4,000 grant to Naugatuck Youth Services (NYS) for its Armory Afternoons program.
Study: Waterbury One Of America’s Slowest Growing Cities
Waterbury is one of the slowest growing cities in America, according to a recent WalletHub study.
KeyBank Announces Regional Retail Leader Promotion
KeyBank announced that Courtney Jinjika has been promoted to senior vice president and regional retail leader for Connecticut and Western Massachusetts.
Webster Bank Leads Deposit Growth In Connecticut After Second Quarter
Webster Bank added more deposits than any other bank in Connecticut, according to recently released data on statewide deposit share at the end of the second quarter of this year.
Banking & Lending Bottom Block
