Banking and Lending
Another Strong Quarter For Bankwell Bank
By Bram Berkowitz | November 1, 2017 | Reprints | Unlock LinkBankwell Financial Group, the parent company of New Canaan-based Bankwell Bank, is coming off a strong quarter after receiving national recognition.
CFPB Reports Mortgage Delinquencies At Lowest Rate Since Recession
October 31, 2017 | Reprints | Unlock LinkMortgage delinquency rates are at their lowest point since the financial crisis, according to a new mortgage performance trends tool from the Consumer Finance Protection Bureau (CFPB) that tracks delinquency rates nationwide.
Connecticut Turns Up $16.65B In Student Loan Debt
By Commercial Record | October 31, 2017 | Reprints | Unlock LinkThe Consumer Financial Protection Bureau has collected complaints pertaining to student loan repayment issues over the last five years.
Sources: US Regulator Wants To Loosen Leash On Wells Fargo
By Reuters | October 31, 2017 | Reprints | Unlock LinkA leading U.S. regulator wants to make it easier for Wells Fargo to pay employees when they leave, loosening a restriction in place since a phony accounts scandal hit the bank last year, according to people familiar with the matter.
Farmington Bank Continues Focus On Deposit Growth
By Bram Berkowitz | October 30, 2017 | Reprints | Unlock LinkFirst Connecticut Bancorp, the holding company for Farmington Bank, reported net income of $5.6 million, or $0.35 diluted earnings per share, for the third quarter, nearly doubling earnings from the third quarter of last year.
Newtown Man Charged With Armed Bank Robbery
October 30, 2017 | Reprints | Unlock LinkA Newtown man was recently indicted on one count of armed bank robbery.
RBS Agrees To Pay $44 Million To Settle Fraud Claims
By The Associated Press | October 27, 2017 | Reprints | Unlock LinkThe global securities firm RBS Securities has agreed to pay $44 million to settle fraudulent trading complaints.
Callahan Honored As Top Retirement Adviser
October 27, 2017 | Reprints | Unlock LinkMichael Callahan, an independent financial advisor and president of Edu4Retirement Inc., was selected as one of Financial Times’ nationwide Top 401 Retirement Adviser for 2017.
Local Community Bank Successful Converts To Dot-Bank Domain
October 26, 2017 | Reprints | Unlock LinkSavings Institute Bank & Trust has moved its website from a dot-com domain to the more secure dot-bank. Traditionally, financial institutions have had a .com web domain, which are obtainable without verification. However, a dot-bank domain requires a vigorous verification process be obtained, and comes enhanced with many security requirements.
A Fixture Of Connecticut Banking Prepares To Depart
By Bram Berkowitz | October 26, 2017 | Reprints | Unlock LinkAfter three decades at the helm and more than four decades with the company, banking legend James Smith is preparing to pass the torch of a family business that has become a centerpiece of Connecticut banking.
United Financial Bancorp Experiences Deposit Pressure As Economy Strengthens
By Bram Berkowitz | October 25, 2017 | Reprints | Unlock LinkThe strengthening economy has bank customers on the hunt for higher returns and is forcing banks to raise rates in order to protect deposits.
Treasurer Sentenced For Embezzling More Than $700K From Union
October 25, 2017 | Reprints | Unlock LinkA treasurer from East Hartford was recently sentenced to prison for embezzling more than $70,000 from his union.
Green Bank In Peril As Budget Deal Nears, Directors Say
By Bram Berkowitz | October 24, 2017 | Reprints | Unlock LinkWhile Connecticut lawmakers cheered what could be the end of a 116-day budget standoff early Tuesday morning, officials in the state’s quasi-public clean energy financing arm lamented a provision in the budget that they say could put them out of business.
Webster Reports Solid Earnings As CEO Prepares To Depart
By Bram Berkowitz | October 24, 2017 | Reprints | Unlock LinkLast week, James smith, CEO and chairman of Webster Bank and its holding company, Webster Financial Corp., completed his last earnings call before he retires at the end of the year, handing the reins to current president John Ciulla.
First Banker Tried In US For Trade Scheme
By Reuters | October 24, 2017 | Reprints | Unlock LinkU.S. prosecutors have said that Mark Johnson, formerly head of HSBC’s global foreign exchange cash trading desk, schemed to ramp up the price of British pounds before executing a trade for Cairn, making millions for HSBC at Cairn’s expense.
Infinex Financial Group To Open Office In Guilford
By Bram Berkowitz | October 23, 2017 | Reprints | Unlock LinkInfinex Financial Group located at The Milford Bank announced its plans to open a financial services office at 96B Broad St. in Guilford, according to a statement from the bank.
JPMorgan Reaches Beyond Its Branches With New Mobile Account App
By Reuters | October 23, 2017 | Reprints | Unlock LinkIn its first offering of online bank accounts, JPMorgan Chase & Co. on Monday launched a new smartphone app that it hopes will attract new depositors, many of whom are young and may live far from any of its branch offices.
Multifamily Lending Up In 2017
By Jim Morrison | October 20, 2017 | Reprints | Unlock LinkMultifamily lending was up 8 percent year over year in 2016, with nearly 3,000 different multifamily lenders providing a total of $269.2 billion in new mortgages for apartment buildings with five or more units, according to a new report from the Mortgage Bankers Association.
Mortgage Applications Rose Last Week As Rates For Conforming Loans Dip
By Jim Morrison | October 20, 2017 | Reprints | Unlock LinkMortgage applications increased 3.6 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending Oct. 13. The week’s results included an adjustment for the Columbus Day holiday.
Berkshire Bank Unveils Newest Branch In Farmington
October 19, 2017 | Reprints | Unlock LinkBerkshire Bank announced the opening of its newest branch in Farmington, bringing the number of Berkshire Bank locations in Connecticut to eight.
