Two regional offices, including the one in Albany, charged with regulating credit unions in Massachusetts, Rhode Island, Connecticut, Maine, New Hampshire and New York would close under the National Credit Union Association’s recent announcement to restructure its operations.
Webster Financial Corp., the holding company of the Waterbury, Connecticut-based Webster Bank, saw a net income of $59.5 million at the end of the second quarter, up roughly $11 million compared to the second quarter of last year.
Bank of America has closed more than 70 branch locations in Massachusetts in the past eight years, according to Federal Deposit Insurance Corporation data. During the same time, TD Bank has closed 17 branches; Santander has closed 13 and Citizens has closed nine.
Needham resident Bill Haynes started helping financial institutions with their communication efforts before there were any firms exclusively dedicated to that industry. After stints at the Boston-based insurance firm Scudder Stevens & Clark and in the public relations arm of Arnold Worldwide, Haynes seized on an opportunity he saw in the market and launched BackBay Communications.
Growth in deposits and lending powered Brookline Bancorp, the holding company of Brookline Bank, to record earnings in the second quarter, as it prepares to greatly expand its commercial lending portfolio.
In an activity-packed quarter that included a major acquisition, a stock offering, the relocation of its headquarters to Boston and the passing of the $10 billion asset threshold, Berkshire Hills Bancorp continued to produce major earnings growth.
Earnings at Medford-based Century Bancorp Inc. shot up in the second quarter; the company boasted record net income totaling $14.25 million for the first six months of the year, a 23.4 percent increase from this time last year.
Boston-based Baystate Financial on Wednesday announced it has merged with New England Financial Group of West Hartford, Connecticut.
South Shore Bank and Braintree Co-operative Bank announced on Tuesday that the two entities plan to merge operations and unite under the South Shore Bank brand.
After months of raising capital intended to purchase assets from Admirals Bank and launch a new institution called Bank & Trust Co. of Boston, the banking executives behind the venture are pulling out of the deal.
Representatives from Diebold Nixdorf, a leading provider of ATM and retail technology to banks, credit unions and retail stores, are traveling across the country in an 18-wheeler as part of their U.S. Connections Tour to show what the future of the retail store and bank branch will look like.
Many credit unions in Massachusetts will no longer have to report home equity line of credit (HELOC) data to federal regulators after the U.S. consumer watchdog agency earlier this week vowed to raise the reporting threshold.
A new rule intended to give consumers greater protection against financial institutions will likely lead to a host of regulatory challenges for community banks, and even more worrisome, potentially costly litigation.
The Consumer Financial Protection Bureau on Friday finalized updates to the agency’s “know before you owe” mortgage disclosure rule, hoping not only to formalize guidance of the rule, but also to provide greater clarity to an initiative that took effect in October 2015.