Community banks had another strong quarter, but the majority of the 5,294 community banks in the U.S. saw declines in noninterest income as the pace of loan growth slowed.
According to a recent survey on cybersecurity conducted by the National Association of Federally-Insured Credit Unions, 63 percent of respondents indicated they are “very concerned” about another Equifax-type data breach.
While the House-passed tax reform bill would would repeal the new markets tax credit, the Senate continues to take steps in the opposite direction in unison with their efforts to preserve the credit.
At the Risk Management Association’s Annual Conference in Boston earlier this month, Brookline Bank’s President and CEO Darryl Fess said “risk is all around us,” and outlined ways that local banks are creating market opportunities in an operating climate often defined by the actions of “big banks.”
Only 11 percent of CFOs at financial institutions under $10 billion in assets believe they are prepared for the transition to the new current expected credit loss accounting standard, according to a recent study.
The demise of Boston’s first “skinny tower” highlights anew an ironclad rule of development in the Hub: Unless you are well-connected power player about town, forget about trying to build anything.
Commercial real estate concentrations at banks and credit unions are becoming a frequent topic of discussion during regulatory exams, according to a poll conducted by North Carolina-based financial information company Sageworks.
With the announcement Wednesday that Richard Cordray would resign from the Consumer Financial Protection Bureau, the agency is undoubtedly headed in a new direction.
A Chelsea man dubbed the “Spelling Bee Bandit” pleaded guilty today in federal court in Boston to four bank robberies.
Since the Dodd-Frank Act was first enacted, banks and credit unions of all sizes have been clamoring for relief from a law they deem to be costly and burdensome. Their calls may soon be met with action.
A former Army Reservist has pleaded guilty to stealing six machine guns and 10 handguns from a U.S. Army Reserve facility, escaping from federal prison and attempting to rob two banks.
Merger and acquisition costs as well as a “lower production of saleable residential mortgage loans” have contributed to lower quarterly earnings and year-to-date losses for Randolph Bancorp, the holding company of Randolph Savings Bank.
The YMCA of Greater Boston last week presented State Street Corp. Chairman and CEO Jay Hooley, who recently announced his retirement at the end of the year, with its first annual 1851 YMCA Legacy Award for Corporate Citizenship in honor of Hooley’s 20-plus years of service, support and shared mission.
Frustrated by the unwillingness of House or Senate Republicans to eliminate the credit union tax exemption in either of their tax reform bills, the Independent Community Bankers Association is trying to drum up local support while the issue is hot.
As Berkshire Bank prepares to open its new corporate headquarters in Boston, with a fresh look in the heart of the city’s Financial District on State Street, it is also bringing aboard new faces to enhance its presence in Boston and Worcester. One of those new faces is Susan Yahn DiPinto, who Berkshire hired in October as the company’s senior vice president of private banking. Before Berkshire, DiPinto was a senior vice president of private banking at Boston Private. Prior to that role, she did stints at other larger institutions such as Citizens Bank and Bank of Boston. In her new role, DiPinto is charged with leveraging her local experience to expand Berkshire’s customer relationships across the bank’s full suite of products and services. She will build a team of private bankers to assist in her efforts.
Trying to pinpoint the next recession, or how much more the economy can grow, has left many economists and experts baffled, primarily because the recovery since the recession has been filled with many mysteries.
Growth at Pilgrim Bank and Melrose Bank, two banks that completed initial public offerings in 2014, has been slowing significantly over the last year and even more so this year, according to FDIC data and call reports.
Wellesley Bancorp, the holding company of Wellesley Bank, reported third quarter net income of $1.2 million, up more than $450,000 from the third quarter of 2016.
State chartered credit unions in Massachusetts have for a while been allowed to convert into a bank or merge into a bank. But those acts could not technically be reciprocated.
Seema Hingorani in 2015 founded Girls Who Invest, a nonprofit aimed at getting more female fund managers into asset management and other realms of finance.