CT M&T Bank Customers Apparently Dodge Big Data Breach
A data breach tied to a piece of third-party software potentially exposed the personal information of over 95,000 Massachusetts M&T Bank customers.
NBT Completes Merger With Salisbury Bank
NBT Bank has added 13 Salisbury Bank branches to its footprint after the two banks completed their merger on Aug.11.
Black Knight: Despite July Declines, Market ‘Not Normal’ for Mortgage Rate-Locks
Fixed 30-year mortgage loans saw rates go up to 7 percent in July, which dampened overall demand but the lack of supply is still keeping home prices up in some parts of the country.
SBA Releases New Guidelines to Improve Small Biz Lending
The US Small Business Administration has announced changes to its popular 7(a) and 504 loan programs it hopes will make the process of getting a loan easier and seamless for small businesses.
Citing CRE Risk, Moody’s Downgrades M&T, Webster Bank Credit
Funding pressures, regulatory capital weaknesses and higher risks in the commercial real estate loan portfolios dragged Moody’s credit ratings of two sizeable banks operating in the Connecticut market. Moody’s downgraded credit ratings for large regional banks M&T...
M&T Bank Re-Opens North Haven Branch
In addition to the branch re-opening, M&T Bank also donated $3,000 to the Slate School, a non-profit organization and a K-12 independent school in North Haven.
CT Small Businesses Gain $2M Funding from CDFI, Bank Team
Small businesses in Connecticut now have access to credit lifeline with the partnership of Pursuit and Hanover Bank.
Banks Report Tighter Credit Standards, Weaker Loan Demand
The bankers have spoken: Credit standards were tightened and demand for loans was weak in the second quarter of the year, trends that will continue towards the second half of the year, according to a new survey by the Federal Reserve.
The Fed Has Stopped Predicting a Recession. Bankers Aren’t So Sure
Two economic surveys showed that the U.S. economy is continuing to suffer from high interest environment and could be headed for a recession after the announcement of another Federal Reserve rate hike Wednesday.
Study: Banks Urged to Educate Consumers on Buy Now, Pay Later
Consumers are increasingly becoming interested in “buy now, pay later” shopping options amid the growing financial challenges of the average American, and a new study by J.D. Power is urging banks to further educate the public on this alternative.
The Fed’s New Instant Payments System FedNow Goes Live
The Federal Reserve today launched its new system for instant payments, the FedNow Service.
Webster Bank Posts 30 Percent Jump in Q2 Net Income
Connecticut-based Webster Bank recorded a notable year-over-year jump in net income in its second-quarter earnings call Thursday morning.
Margin Compression Drags Down Berkshire’s Q2 Results
Boston-based Berkshire Bank saw its second quarter net income come in 14 percent lower than its first-quarter results, the bank said in its quarterly earnings call Thursday.
Berkshire Bank Scoops Up SVB Private Managing Director
Berkshire Bank has added another name to its list of bankers it’s recruited from Silicon Valley Bank and the now-defunct First Republic Bank.
Study: Financial Advice Creates ‘Lifetime’ Connections with Bank Customers
Banks are sitting on “a goldmine of customer goodwill” that can help them make lifetime connections with customers if they can get financial management and advice products right, J.D. Power researchers said.
Berkshire’s Maiden $100M Sustainability Bond Funds Affordable Housing
Berkshire Bank is spending the proceeds from its first $100 million “sustainability bond” to affordable and workforce housing, green buildings and funding access for small businesses in Massachusetts, New York and Connecticut.
Northeast’s Community Bankers Cast Wary Eye on Economy
The region’s community bankers think economic conditions will slightly improve moving forward, but still maintain an overall negative outlook for their businesses according to a new survey.
Salsibury Bank-NBT Bank Merger OK’d, Conversion Scheduled for August
Salisbury Bank branches are set to be converted as NBT Bank offices on Aug. 14 as the merger between the two banks received a go signal from government regulators.
Berkshire Bank Joins New Anti-Racist Lending Pilot
A bank with a prominent presence in Connecticut has joined forces with 19 other financial institutions to launch a new lending program that seeks to adopt anti-racist underwriting approaches and increase lending commitments to support people of color.
