Around 4,614 banks insured by the Federal Deposit Insurance Corp. across America saw a decline in their aggregate net income in the third quarter versus the prior quarter due to lower non-interest income and higher losses on securities.
New Canaan-based Bankwell Bank said its third-quarter net income improved from the same quarter a year ago mainly on the reduction of its provision of credit losses, freeing up money to contribute to profitability.
Webster Bank’s net income declined in the third quarter as it incurred merger-related charges from its consolidation a New York bank last year.
M&T Bank continued to see high interest rates weigh down its financials in the third quarter thanks to its higher cost of deposits borrowers made cautious by high lending rates.
Will Compass be able to keep attracting agents even as it hits choppy waters? The answer appears to be yes – at least so far.
Berkshire Bank executives reported a growing loan portfolio in this morning’s third-quarter earnings call, driven by residential mortgages at a time when the housing sector was hitting turbulent waters.
Two Connecticut stock banks saw earnings, loans and deposits increase in the third quarter, while seeing the number of loans requiring COVID-19-related modifications decline.
After a tough second quarter, Berkshire Bank says it’s back to profitability based on its third-quarter results.
The two largest Connecticut-based banks both had fewer clients needing loan deferrals during the third quarter compared to the early months of the pandemic.
The cost of deposits and lower loan balances drove third-quarter earnings down 16 percent for Bankwell Financial Group Inc., compared to the same period last year.
Berkshire Hills Bancorp Inc., the holding company for Berkshire Bank, announced that Bill Ryan will step down as board chairman. J. Williar (“Bill”) Dunlaevy will take over as board chair on Dec. 1. chairing Berkshire Bank’s board as well.
A defaulted loan that has been linked to the collapse of a New York State payroll firm will reduce Berkshire Bank’s third quarter earnings by $12 million, according to an SEC filing.
Webster Financial Corporation, the holding company for Webster Bank and its HSA Bank division, announced earnings applicable to common shareholders of $91.4 million, or $1.00 per diluted share, for the quarter ended Sept. 30, 2019.
Changing dynamics and accounting standards will not change People’s United Bank’s strategy around mergers and acquisitions, bank executives said during the bank’s third quarter earnings conference call on Thursday.
Webster Financial Corp. on Thursday reported third-quarter earnings of $99.7 million.
United Rentals Inc. on Wednesday reported third-quarter earnings of $333 million.
United Financial Bancorp Inc. on Tuesday reported third-quarter profit of $16.3 million. The Hartford-based bank said it had earnings of 32 cents per share.
Urstadt Biddle Properties Inc. on Friday reported a key measure of profitability in its fiscal third quarter.
FuelCell Energy Inc. on Thursday reported a loss of $15.9 million in its fiscal third quarter.
Photronics Inc. on Wednesday reported fiscal third-quarter earnings of $13 million. On a per-share basis, the Brookfield-based company said it had profit of 18 cents. Earnings, adjusted for pretax gains, came to 17 cents per share.
