At the beginning of March, it looked like the coronavirus pandemic was going to derail the housing market. People stopped listing their homes for sale and single-family sales plummeted as people sheltered in place.
It was another somewhat bearish year for Connecticut’s housing market, as total single-family home sales dipped, while prices barely increased. Still, some bright spots appeared that are worth a closer look.
As the world grows more complex, financial institutions require more types of insurance for various myriad cybersecurity issues. Justin Kesner, a senior vice president of the legal professional liability division at national brokerage Amity Insurance, is here to help.
Two more small credit unions in Connecticut are merging.
William McGurk, one of the largest private shareholders in United Bank, has been outspoken about his disappointment in People’s United Bank’s planned purchase of United. But he faces a difficult path to blocking the merger.
Workplace and culture issues at Berkshire Bank? Not anymore, apparently.
Berkshire Bank has completed its acquisition of the parent company of Willimantic, Connecticut-based Savings Institute Bank & Trust, a deal first announced last December and valued at $180 million.
After graduating from the University of Rhode Island, Sam Hanna figured the best way to leverage his finance degree would be to start a career in banking. Three decades later, Hanna is still in the industry and is now senior vice president and director of middle market banking for Webster Bank, where he has worked for the last eight years.
Webster Bank scored key wins for its Health Savings Account Bank division by expanding its relationship with a key partner and with a major lobbying win in Washington D.C.
Many banks and credit unions will have additional time to prepare for the new Current Expected Credit Loss accounting system after the Financial Accounting Standards Board recently voted to delay implementation for a select group.
Most of the cost savings that People’s United will achieve when it completes its purchase of Hartford-based United Bank will be through staff and branch reductions.
People’s United Bank will cross the $50 billion asset threshold with its third bank purchase in a little more than a year.
Despite a contracting mortgage market, some leading providers of loans guaranteed by the U.S. Department of Veteran Affairs and Federal Housing Administration managed to retain their positions in these categories, according to a new report from The Warren Group, publisher of The Commercial Record.
U.S. consumer debt continued to climb at a steady pace in May, growing just slightly less than the prior month.
Using strong language, the banking industry’s largest trade group is asking the national agency that regulates credit unions to conduct a “top-to-bottom assessment” of the nonprofit lenders.
What Penn Johnson started with only a desk, a friend and a phone in 1996 grew into The Stamford Mortgage Co., which has now served well over 5,000 households and originated more than $2 billion in residential mortgage loans.
The Connecticut Department of Banking has recently approved the merger between Hartford Federal Credit Union and CT1 Media Credit Union Inc.
Many community banks expect their reserves under CECL will be the same, if not smaller, than under the current incurred model, even as some observers reckon the economy is closer to a downturn than at any other time in the current cycle.
Garret Smith, a serial entrepreneur who has worked in the banking industry for years, has developed a new, national marketplace for banks and other lenders to sidestep loan brokers and their loacalized networks as they seek to diversify their loan portfolios.
Insured deposits at financial institutions would see a bump if Congress provided legal safety for those banking marijuana businesses.
