The maximum conforming loan limits for mortgages to be acquired by Fannie Mae and Freddie Mac will increase by 12 percent in 2023.
Two more Connecticut credit unions plan to merge, as Stratford-based Sikorsky Credit Union looks to acquire a small municipal institution.
While lenders might have started the year expecting some rate hikes, the size and speed of rising mortgage rates had significant effects on the spring and summer mortgage markets.
Patriot Bank has hired Thomas E. Slater to be its next chief credit officer.
South Carolina-based Movement Mortgage plans to acquire Massachusetts-based Mortgage Network Inc. in a deal that Movement Mortgage said would expand its East Coast market share.
Stamford-based Patriot Bank saw third quarter earnings increase by 75 percent year-over-year as the bank has seen its loan portfolio grow nearly 17 percent in 2022.
Stamford-based Sound Federal Credit Union has completed one merger this month and plans to acquire another credit union that has made multiple merger attempts in recent years.
Berkshire Bank’s parent company has increased its quarterly dividend for the first time since cutting it in half more than two years ago.
Citing the effects of the current economic environment on the mortgage industry, Danbury-based mortgage technology company Promontory MortgagePath has decided to shut down.
M&T Bank expects to see lingering effects of the People’s United Bank acquisition into the fourth quarter as the bank continues to work with customers affected by the system conversion.
The U.S. will soon see a new mutual bank launch for the first time in nearly 50 years now that bank regulators have approved a New Hampshire-based de novo bank.
While the U.S. Small Business Association defended its decision not to collect on small Paycheck Protection Program loans that have defaulted, the agency did agree to assess the costs of its program following criticism of its decision.
Economic conditions, net interest margins and cybersecurity rank among community bankers’ top concerns this year, according to the Conference of State Bank Supervisors annual national survey.
The newest Conference of State Banking Supervisors’ survey shows the stagnating economy is weighing on community bankers’ minds.
For many of the state’s lenders, commercial real estate is providing a significant source for income, especially as residential loan demand has softened. We’ve ranked how it helped them grow.
While most Connecticut credit unions had positive net income in the first half of 2022, the state’s credit unions continued to lose members at a higher rate than most other states, according to data released last week by the National Credit Union Administration.