Banking and Lending
Top Fed Official Says December Rate Cut Depends on Data
By Christopher Rugaber | The Associated Press | December 4, 2024 | Reprints | Unlock LinkA top Federal Reserve official said Monday that he is leaning toward supporting an interest rate cut when the Fed meets in two weeks but that evidence of persistent inflation before then could cause him to change that view.
Key Bank Promotes Wealth Advisor to Key Family Wealth Division
By Sam Lattof | December 3, 2024 | Reprints | Unlock LinkKey Bank has promoted John M. Jezowski to the expanded role of senior family wealth strategist for the New England region.
Guilford Savings and Eastern Connecticut Savings Announce Merger
By Sam Lattof | December 2, 2024 | Reprints | Unlock LinkThe merger was approved unanimously by both boards and will create a bank with $1.4 billion in combined assets and 25,000 clients.
Federal Reserve’s Likely Slowdown in Rate Cuts Could Disappoint Borrowers
By Christopher Rugaber | The Associated Press | November 21, 2024 | Reprints | Unlock LinkSeveral surprisingly strong economic reports, combined with President-elect Donald Trump’s policy proposals, have led to a decidedly more cautious tone from the Fed.
Citizens Bank Building Out Consumer Banking Team
By Sam Lattof | November 20, 2024 | Reprints | Unlock LinkCitizens recently added to its consumer banking team with one hire and two promotions from within.
Mortgage Customer Satisfaction Declines
By Sam Lattof | November 18, 2024 | Reprints | Unlock LinkJ.D. Power credits lenders trimming their staff in the reduction of quality customer service.
Stamford, Hartford Have Most Office Distress in Nation
By Sam Lattof | November 14, 2024 | Reprints | Unlock LinkTwo Connecticut markets have some of the highest shares of distressed commercial loans in the nation according to a new report.
CT CRE Lending Jumped in Q3, But Banks’ Share Dwindled
By James Sanna | November 12, 2024 | Reprints | Unlock LinkAccording to a new report from CBRE and data from The Warren Group, the commercial real estate market continues to show signs of improvement.
Wall Street Already Picking CRE Winners and Losers Under Trump
By Stan Choe, Anne D’Innocenzio, Damian Troise and Paul Harloff | The Associated Press | November 12, 2024 | Reprints | Unlock LinkWall Street is already making big bets on what take two for a White House led by Donald Trump will mean for the economy.
Savings Bank of Danbury Completes Rebranding to Ives Bank
By Sam Lattof | November 8, 2024 | Reprints | Unlock LinkAfter 175 years, Savings Bank of Danbury has completed its rebranding and is officially now Ives Bank.
Post-Election Uncertainty Grows for the Fed
By Christopher Rugaber | The Associated Press | November 7, 2024 | Reprints | Unlock LinkBetween mixed economic signals and president-elect Donald Trump’s statements that he wants greater control over interest rate policy, it’s up in the air what happens next.
Trump Has Sweeping Plans. Here’s What He’s Proposed for Business
By Bill Barrow | The Associated Press | November 6, 2024 | Reprints | Unlock LinkThe president-elect outlined a wide-ranging agenda on the campaign trail that blends traditional conservative approaches to taxes, regulation and cultural issues with a more populist bent on trade.
KeyBank Gives $300K to New Haven Nonprofit
November 5, 2024 | Reprints | Unlock LinkKeyBank recently announced a $300,000 donation to a New Haven nonprofit that tries to combat food insecurity among the sick and elderly.
Fed Set to Cut Rates Again Amid Hazy Post-Election Outlook
By Christopher Rugaber | The Associated Press | November 4, 2024 | Reprints | Unlock LinkNo one knows how Tuesday’s presidential election will turn out, but the Federal Reserve’s move two days later is much easier to predict: With inflation continuing to cool, the Fed is set to cut interest rates for a second time this year.
Average Mortgage Rates Creep Back Towards 7 Percent
By Alex Veiga | The Associated Press | October 31, 2024 | Reprints | Unlock LinkThe average rate on a 30-year mortgage in the U.S. rose for the fifth straight week, returning to its highest level since early August.
Small Biz Customers Increasingly Satisfied with Bank Service
By Sam Lattof | October 30, 2024 | Reprints | Unlock LinkSmall business banking customers are increasingly satisfied with the service they are receiving from banks and are confident that banks can meet their future needs.
NBT Bank Sees Income and Deposit Growth in Third Quarter
By Sam Lattof | October 29, 2024 | Reprints | Unlock LinkNBT Bank made both deposit and income gains in the third quarter of 2024, partially a result of the acquisition of Western Massachusetts’ Salisbury Bank.
$500K Settlement in Data Breach that Hit Webster Customers
By James Sanna | October 28, 2024 | Reprints | Unlock LinkThe new owners of the bank fraud prevention fintech whose data breach put personal information about nearly 160,000 local Webster Bank customers online will pay a $500,000 fine, the Connecticut attorney general’s office announced.
FHLB Boston Earnings Show Asset Increase as Bank Launches New Rate Product
By Sam Lattof | October 28, 2024 | Reprints | Unlock LinkWhile interest rate shifts saw income decrease, the Federal Home Loan Bank of Boston saw its assets increase in the third quarter of 2024.
Berkshire Bank Sees Gains in Third Quarter
By Sam Lattof | October 24, 2024 | Reprints | Unlock LinkThe third quarter of 2024 was a successful one for Berkshire Bank as its net income increased $18 million year-over-year.




