Industry News
New England Bank To Be Acquired By United In $91M Deal
May 31, 2012 | Reprints | Unlock LinkNew England Bancshares, parent of New England Bank, says it will be acquired by United Financial Bancorp Inc., the West Springfield, Mass.-based holding company for United Bank, for about $91 million.
FDIC Schedules Three Conn. Banks For Q3 CRA Examination
May 31, 2012 | Reprints | Unlock LinkThe Federal Deposit Insurance Corp. will conduct Community Reinvestment Act examinations at three Connecticut banks during the third quarter.
Starwood Will Redeem 2013 Notes
May 31, 2012 | Reprints | Unlock LinkStamford-based Starwood Hotels & Resorts Worldwide Inc. is exercising its option to redeem all of its outstanding 6.25 percent senior notes due 2013.
Webster Bank Plans Homebuyer Blitz
May 31, 2012 | Reprints | Unlock LinkWaterbury-based Webster Bank is teaming up with local real estate agents for a “one stop shopping” event for homebuyers June 9.
Draghi Sees Greater Role For ECB
May 31, 2012 | Reprints | Unlock LinkEuropean Central Bank head Mario Draghi has urged Europe to set up a more centralized authority to oversee its troubled banks, criticizing national regulators for choosing “the worst possible way” to help their banking sectors by delaying tough decisions.
Cigna To Cover Care At Shriners Hospital
May 31, 2012 | Reprints | Unlock LinkBloomfield-based insurer Cigna and Shriners Hospitals for Children have reached agreement on a three-year contract that adds all 20 of Shriners’ hospitals in 16 states and its more than 200 doctors to Cigna’s network.
Conn. April Home, Condo Sales Rise
May 31, 2012 | Reprints | Unlock LinkSingle-family home sales in Connecticut increased more than 25 percent in April compared to the same month a year ago. Median home prices statewide, however, dropped in April, according to The Warren Group, publisher of The Commercial Record.
Percentage Of Conn. Homes With Mortgage In Foreclosure Pipeline Climbs
May 30, 2012 | Reprints | Unlock LinkThe number of completed foreclosures nationwide fell 15.4 percent year-over-year in April and remained flat from March at 66,000, as the percentage of all homes with a mortgage in the foreclosure pipeline fell slightly to 3.4 percent, according to a recent report from California-based real estate tracking firm CoreLogic.
Rockefellers, Rothschilds Partner In Wealth Management Deal
May 30, 2012 | Reprints | Unlock LinkThe parent company of Rockefeller & Co., a 130-year-old wealth management firm founded by John D. Rockefeller in part to manage his own family’s wealth, has partnered with RIT Capital Partners plc in a minority equity deal.
BofA Names New Business Banking Exec For Conn., Western Mass.
May 30, 2012 | Reprints | Unlock LinkBank of America Merrill Lynch has named Eric Bauer business banking market executive for Connecticut and Western Massachusetts, based out of Hartford.
Stevens Leaves MBA To Head SunTrust Mortgage
May 30, 2012 | Reprints | Unlock LinkAfter only a year, Mortgage Bankers Association President and CEO David H. Stevens is leaving the Washington-based industry group to become president of SunTrust Mortgage.
Elected Officials Talk Debt, Jobs With Credit Union League Members
May 30, 2012 | Reprints | Unlock LinkEight speakers touched on topics ranging from state and local budget deficits to job creation at a gathering of dozens of members from the Credit Union League of Connecticut at the group’s annual governmental affairs conference yesterday.
W.R. Berkley Midwestern Subsidiary Changes Leadership
May 30, 2012 | Reprints | Unlock LinkMichael G. Connor has been named president of Continental Western Group LLC, an Iowa-based subsidiary of Greenwich insurance holding company W. R. Berkley Corp.
Communist Party Related Community Center Gets OK From Gov.
May 29, 2012 | Reprints | Unlock LinkA New Haven community center whose bid for a state rehabilitation grant stalled due to its ties with the Communist Party has apparently won the blessing of Gov. Dannel P. Malloy’s administration.
Eastern Federal Bank Foundation Announces 2012 Grants
May 29, 2012 | Reprints | Unlock LinkNorwich’s Eastern Federal Bank Foundation distributed a total of $19,500 in grants to 22 nonprofit organizations this year.
Commercial Real Estate Services Expanding In U.S., Conn.
May 29, 2012 | Reprints | Unlock LinkNew commercial real estate brokerages are launching in the United States, in what may be a sign that the market’s recovery is durable.
First Connecticut Bancorp Inc. Announces Quarterly Dividend
May 29, 2012 | Reprints | Unlock LinkFarmington-based First Connecticut Bancorp Inc.’s board of directors has voted to pay a cash dividend in the amount of three cents per share on June 14 to all shareholders of record as of June 4.
Benefits Of National Mortgage Foreclosure Servicing Settlement Moving Forward
May 29, 2012 | Reprints | Unlock LinkAttorney General George Jepsen said the programs of benefits resulting from the $25 billion mortgage foreclosure servicing settlement are moving forward in Connecticut, including $119 million in loan modifications and $36 million in refinancing relief.
FHFA May Be Softening On Principal Cuts
By Colleen M. Sullivan | Commercial Record Staff | May 28, 2012 | Reprints | Unlock LinkAfter months of arm-twisting, Financial Housing Finance Agency (FHFA) chief Ed DeMarco may be succumbing to pressure on mortgage giants Fannie Mae and Freddie Mac to introduce principal reductions – aimed at helping borrowers, but alarming bankers.
Don\’t Shoot The Messenger
By Cory S. Hopkins | Commercial Record Editorial Director | May 28, 2012 | Reprints | Unlock LinkOur appraiser friends can\’t seem to catch a break.
