Banking and Lending
SI Bank & Trust Chooses Bennett As Hebron Branch Manager
October 19, 2017 | Reprints | Unlock LinkEric Bennett has been selected as the branch manager of Savings Institute Bank & Trust’s Hebron location.
Freddie Mac Weekly Mortgage Rates
October 19, 2017 | Reprints | Unlock LinkRates came down slightly this week, ending a brief, two-week streak of increases.
Shop Around For Title Insurance
By Kenneth R. Harney | Washington Post Columnist | October 19, 2017 | Reprints | Unlock LinkA recent legal settlement between the federal government and a title insurance agency is drawing fresh attention to one of the murkiest, least understood and most expensive items you get charged for in a real estate closing: title insurance.
The Future Of Rate Caps Shifts To Flat Fees
By Eitan Weinstock | October 19, 2017 | Reprints | Unlock LinkCommercial real estate owners looking to hedge interest rate risk are often asked to purchase derivatives and other financial products blindly. Rather than receiving transparency, borrowers are simply handed an invoice that they are forced to pay. Unarmed to properly price hedging products and their service providers, owners overpay for many over-the-counter products.
Loan Growth A Zero-Sum Game
By Bram Berkowitz | October 19, 2017 | Reprints | Unlock LinkWith two large corporations heading to Boston, a shrinking population and no state budget for at least the first three months of this fiscal year, all parts of Connecticut’s economy may have trouble generating new growth.
Webster Bank Passes 2017 Dodd-Frank Stress Test
By Bram Berkowitz | October 18, 2017 | Reprints | Unlock LinkThe capital ratios of Webster Financial Corp. and its $26 billion asset subsidiary, Webster Bank, would exceed regulatory minimums during a severely adverse economic time period, according to the company’s latest Dodd-Frank stress test results.
Appeals Court Tosses Hedge Fund Owner’s Claims Against FBI
By The Associated Press | October 18, 2017 | Reprints | Unlock LinkA hedge fund owner’s bid to hold the government responsible for an FBI raid that he says ruined his business was lost Tuesday when a federal appeals court rejected his lawsuit.
Bankruptcy Attorney Imprisoned For Embezzlement And Fraud
October 17, 2017 | Reprints | Unlock LinkA bankruptcy attorney has been sentenced to prison for embezzling millions of dollars from his bankruptcy clients, and related fraud offenses.
Boston Fed President Expects 2 Percent Inflation By Next Year
By Bram Berkowitz | October 16, 2017 | Reprints | Unlock LinkSpeaking at a conference in Boston Friday, Eric Rosengren said he also expects current low inflation, the main factor that could hamper projected interest-rate hikes, to get much closer to the Fed’s 2 percent target next year.
Guilford Savings Bank Completes $10.8M In Financing For Flanders Plaza
By Mike Flaim | October 16, 2017 | Reprints | Unlock LinkGuilford Savings Bank recently completed financing for the 60,000-square-foot Flanders Plaza Shopping Center in East Lyme. The plaza holds CVS, IGA Tri-Town Foods and other retailers and offices. Manhattan-based Developers Consolidated Realty LLC acquired the site....
Man Charged With Fraud, Identity Theft Targeting CT Residents
October 13, 2017 | Reprints | Unlock LinkA Washington man was recently charged in New Haven on a four-count indictment on fraud and identity theft offenses.
Salisbury Bank Names New CFO
By The Commercial Record | October 13, 2017 | Reprints | Unlock LinkOne day after announcing the resignation of CFO Donald E. White, Salisbury Bancorp Inc., the holding company for Salisbury Bank and Trust Co., has found its replacement.
Bank Of America Profit Rises On Higher Rates, Lower Costs
By Reuters | October 13, 2017 | Reprints | Unlock LinkBank of America Corp. reported a 15 percent rise in third-quarter profit on Friday as the lender kept a tight leash on costs and benefited from higher interest rates.
Despite Popularity And Performance, Low Down Payment Loans Stigmas Persist
October 13, 2017 | Reprints | Unlock LinkAs home prices rise, a larger percentage of first-time buyers are putting down less than 20 percent to buy a home, according to the October Down Payment Report from Down Payment Resource.
Salisbury Bank CFO To Resign
By The Commercial Record | October 12, 2017 | Reprints | Unlock LinkThe chief financial officer of Lakeville-based Salisbury Bank is leaving the company to pursue another career opportunity.
Citigroup Profit Rises On Asset Sale Gain, Lower Costs
October 12, 2017 | Reprints | Unlock LinkCitigroup Inc. reported a higher quarterly profit as it kept costs lower, recorded a large gain from an asset sale and had a smaller-than-expected decline in trading revenue.
Activist Investor Lawrence Seidman Takes Stake In Simsbury Bank Parent Co.
By Bram Berkowitz | October 11, 2017 | Reprints | Unlock LinkActivist investor Lawrence Seidman has taken a 7.4 percent stake in SBT Bancorp, the holding company of Simsbury Bank, according to a regulatory filing from yesterday.
Goldman Creates ‘Brain Trust’ In Effort To Boost Deals Business
By Reuters | October 11, 2017 | Reprints | Unlock LinkGoldman Sachs Group Inc. is betting it can get its money-making mojo back by pitching creative deals to big, complex clients, marking a return to its investment banking roots as trading revenue slows.
Residential Mortgage Delinquencies Hover Around 10-Year Low
By Jim Morrison | October 10, 2017 | Reprints | Unlock LinkLoan performance remained flat in July 2017 after hitting 10-year lows the previous month, according to a report released today from CoreLogic, a global property information and analytics firm.
Nutmeg State FCU Plans New Branch In Stratford
By The Commercial Record | October 10, 2017 | Reprints | Unlock LinkNutmeg State Financial Credit Union has filed an application with the Connecticut Department of Banking to open its first full-service branch in Stratford at 250 Barnum Avenue Cutoff.
