by Nika Cataldo | Jan 25, 2024 | Banking & Lending, CR Daily, Industry News
Berkshire Bank suffered a net loss on a securities sale during the fourth quarter of 2023, the bank reported, dragging it down to a net loss of $1.4 million compared to last quarter’s net profit of $19.5 million.
by The Associated Press | Jan 12, 2024 | Banking & Lending, CR Daily, Industry News
Three of the nation’s biggest banks said Friday that their profits fell last quarter, as JPMorgan Chase, Bank of America and Citigroup deal with the lingering effects of higher interest rates and the industry costs of last year’s banking crisis that caused the collapse of Silicon Valley Bank and Signature Bank.
by Diane McLaughlin | Feb 4, 2021 | Banking & Lending, CR Daily, Executive Briefing
Two of Connecticut’s stock banks continued to show improvements in COVID-related loan deferrals.
by Diane McLaughlin | Jan 27, 2021 | Banking & Lending, CR Daily, Executive Briefing
Berkshire Bank had positive earnings for the second straight quarter, but net income was still down as the bank continues to deal with the effects of the pandemic.
by Diane McLaughlin | Jan 25, 2021 | Banking & Lending, CR Daily, Executive Briefing
Webster Bank could see $15 million in cost savings from its plans to close branches as it takes steps to reduce expenses while growing its business. The bank announced in December plans to close 27 branches in Massachusetts, Connecticut and Rhode Island, reducing its...
by The Commercial Record | Jan 15, 2021 | Banking & Lending, CR Daily, Industry News
While positive developments with the pandemic led JPMorgan Chase to release funds from its credit reserves, leading to record profits in the fourth quarter, the total credit reserves remain high.
by The Commercial Record | Jan 4, 2021 | Banking & Lending, CR Daily, Executive Briefing
New Canaan-based Bankwell Bank will see a one-time $3.9 million charge in its fourth quarter results, due in part to the bank’s plans to move to a new headquarters and terminate a technology vendor.
by Diane McLaughlin | Feb 4, 2020 | Banking & Lending, CR Daily, Executive Briefing
Webster Financial Corporation, the holding company for Webster Bank and its HSA Bank division, had earnings of $88.1 million, or $0.96 per diluted share, for the quarter ending Dec. 31, 2019.
by Diane McLaughlin | Jan 28, 2020 | Banking & Lending, CR Daily, Executive Briefing, Promotions
Berkshire Bank has created the role of regional president for each of its markets and promoted eight executives to lead the regions.