After opening a loan office in downtown Springfield, Massachusetts in October, Middletown-based Liberty Bank officially opened its first bank branch in Massachusetts following successful expansion of its business lending in the area this year.
Webster Bank launched its first special purpose credit program Tuesday, which is aimed at helping low- to moderate-income first-time homebuyers buy homes, as well as homeowners who seek to refinance their mortgages in historically underserved areas.
National Iron Bank, a $298 million-asset community bank based in Salisbury, has appointed its new chairman and vice chairman of the board.
Around 4,614 banks insured by the Federal Deposit Insurance Corp. across America saw a decline in their aggregate net income in the third quarter versus the prior quarter due to lower non-interest income and higher losses on securities.
More small business owners in Connecticut were able to get loans backed by the U.S. Small Business Administration (SBA) in 2023, increasing by 13 percent compared to last year.
KeyBank is embracing remote work for some non-branch staff in New Haven and plans to move out of space in an office tower in that city by the end of the year.
JPMorgan Chase is reorganizing its branch network in Greenwich, closing a total of three branches while opening three other branches.
With average 30-year mortgage rates reaching 7.79 percent in October – the highest level since 2000 – lenders were forced to get creative financing homes, leading to high customer satisfaction in 2023.
“No one statistic can adequately characterize the labor market, since aggregate numbers do not show the wide range of experiences across people, sectors and places,” Susan Collins said.
Two national studies show that US bank consumers are shifting their preferences more to digital banking platforms, both mobile and online, instead of opting to go to branches – particularly to branches inside big retailers.
New Canaan-based Bankwell Bank said its third-quarter net income improved from the same quarter a year ago mainly on the reduction of its provision of credit losses, freeing up money to contribute to profitability.
Berkshire Bank is expecting to close down more branches in 2024 as a part of its three-year restructuring plan geared on leaning towards improvement of its digital banking platforms.
Some banks are using video-enabled ATMs to free branch staff to provide higher-touch advice and service to customers.
Webster Bank’s net income declined in the third quarter as it incurred merger-related charges from its consolidation a New York bank last year.
M&T Bank continued to see high interest rates weigh down its financials in the third quarter thanks to its higher cost of deposits borrowers made cautious by high lending rates.
Ion Bank is opening its new 22nd branch in Southington. And it comes with a new benefit for customers: an electric vehicle charging station.
A rule intended to strengthen the U.S. banking system by increasing banks’ capital reserves in case of a crisis could open opportunities for Connecticut’s smaller banks to catch business opportunities in the process.
New Haven Bank will open its second branch in West Haven in late October to early November as part of its goal to aid underserved communities.
Kenneth C. Montgomery, the first vice president and chief operating officer of the Federal Reserve Bank of Boston, is set to retire in the spring after 40 years. Now the bank is launching a national search for a replacement.
The bank said on Friday that it aims to connect deeper and better understand the Latino community to serve their banking needs better.
