Industry News
Gov. Rell OKs ID Theft Legislation
June 12, 2008 | Reprints | Unlock LinkIn the wake of a recent security breach that exposed the personal data of nearly 500,000 state residents, Gov. M. Jodi Rell has signed legislation to help safeguard information such as Social Security numbers, driver’s license numbers and insurance, bank and credit card account numbers.
Pace of Foreclosure Filings in Connecticut Down 20% for ’08
By Jeff Haynes | June 12, 2008 | Reprints | Unlock LinkIt’s one decline the economy would welcome: a 20 percent drop in the statewide lis pendens filings. The filings most often are associated with foreclosure activity.
Graf Appointed Manager at William Pitt
June 12, 2008 | Reprints | Unlock LinkLynn Graf has been named sales manager for William Pitt Sotheby’s International Realty, covering the Farmington, Avon and Simsbury offices. Graf has 10 years of experience as a top-producing agent and has won multiple sales and service awards.
Hudson Acquires D&O Insurance Business
June 12, 2008 | Reprints | Unlock LinkHudson Insurance Group, the U.S. insurance division of Odyssey Re Holdings Corp., announced its acquisition of Hooghuis Group, an underwriting agency specializing in U.S. directors and officers liability insurance.
Essex Savings Bank Puts Trust in Martin
June 12, 2008 | Reprints | Unlock LinkMoira Bessette Martin has been added to Essex Savings Bank’s trust department as vice president and trust officer.
EMCOR to Stay at Merritt 7 for 10 Years
June 12, 2008 | Reprints | Unlock LinkEMCOR Group, a mechanical and electrical construction firm, has signed an early lease renewal and expanded its corporate headquarters at the 1.4 million-square-foot Merritt 7 Corporate Park office complex in Norwalk.
SBA Breaks Loan Barriers but Banks Balk
By Jeff Haynes | June 12, 2008 | Reprints | Unlock LinkAs credit worries dominate the lending landscape, the Small Business Administration has a commercial loan package that translates to less exposure for banks. But takers are hard to find.
Webster Raises Cash As Bad Loans Mount
By Jeff Haynes | June 12, 2008 | Reprints | Unlock Link
Facing $253.6 million in troubled loans, Webster Financial Corp. is issuing $225 million in preferred stock to raise cash.
The parent of Webster Bank reported just shy of $139.7 million in non-performing loans at the end of the first quarter, and another $113.9 million in loans that are still accruing interest but are at least 30 days overdue in payments.
Feds Seek Transparency For Credit Rating Agencies
By Jeff Haynes | June 12, 2008 | Reprints | Unlock LinkMemo to the credit rating agencies: Uncle Sam wants you to be more transparent.
The call came two weeks ago from Paris, as the International Organization of Securities Commissions (IOSCO) called on the agencies to voluntarily adopt some new guidelines. On Wednesday, the U.S.
CCBA Celebrates 20 Years In Style
June 12, 2008 | Reprints | Unlock LinkBREAKING NEWS:
Hudson Insurance Group Acquires Hooghuis Group
June 10, 2008 | Reprints | Unlock Link
Hudson Insurance Group, the U.S.
Webster Bank Announces $225 Million Stock Offering
June 5, 2008 | Reprints | Unlock Link
The holding company for Waterbury-based Webster Bank will offer 225,000 shares, or $225 million aggregate liquidation preference, of non-cumulative perpetual convertible preferred stock.
Succession Planning and Retention Basics
By Stanley V. Ragalevsky and Sean P. Mahoney | June 4, 2008 | Reprints | Unlock LinkSpecial to the Connecticut Community Bankers Association
Lentini Still Relishes Role as Convention’s ‘Marshaling Force’
June 4, 2008 | Reprints | Unlock LinkSpecial to the Connecticut Community Bankers
David Lentini is in trouble.
HUD: Change RESPA, Save $8.3B
June 4, 2008 | Reprints | Unlock LinkComplex loan arrangements raise the cost of borrowing for home buyers. Loans made by mortgage brokers are more expensive than those originated by direct lenders. Fees for title services can vary considerably. Almost half of real estate agents charge less than 6 percent commissions.
Pitching in for Humanity, Two New Homes
June 4, 2008 | Reprints | Unlock LinkSales associates from the Branford, Cheshire, Madison, North Haven, Orange and Woodbridge offices of Coldwell Banker Residential spent several days volunteering at two Habitat for Humanity construction sites in New Haven. The volunteers are members of the firm’s philanthropic arm, the Coldwell Banker Residential Brokerage Cares Foundation.
Small Annuity Companies on the Move
June 4, 2008 | Reprints | Unlock LinkHartford-based Conning Research and Consulting released a study that found the largest annuity companies aren’t generally the fastest-growing. The individual annuity industry is dominated by the 20 largest companies, Conning reported, which garnered 81 percent of all individual annuity net premiums in 2007.
TD Banknorth Earns High Regional Marks
June 4, 2008 | Reprints | Unlock LinkTD Banknorth took the top spot among J.D. Power and Assoc.’s ranking of overall customer satisfaction for banks in the New England region. The bad news is TD Banknorth’s region-high score of 730 falls below the national, industry-wide mark of 737.
New $20 Million Laser Facility on Target
June 4, 2008 | Reprints | Unlock LinkDiversified Project Management has completed project management services for TRUMPF’s new 83,000-square-foot Laser Innovation & Technical Excellence building, a research and manufacturing facility in Farmington. TRUMPF is a producer of fabricating machinery, as well as lasers used for industrial production technology.
$6.2 Million Earmarked For Affordable Housing
June 4, 2008 | Reprints | Unlock LinkFive affordable housing projects statewide will receive state and federal funds totaling $6.2 million.
