Banking
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NewportFed second-quarter profit declines 42 percent
Newport Bancorp Inc. the holding company for Newport Federal Savings Bank, on Friday reported second-quarter net income of $253,000, a 42 percent decline from the $439,000 profit posted during the same quarter ending June 30 last year. more
BofA’s debt cuts leave 3-year capital cushion
Bank of America Corp.’s record $53 billion reduction of of long-term debt in the second quarter will help the lender go three years without needing to tap the bond market, the biggest cushion in its history. more
Rockland parent posts 2Q profit decline
Independent Bank Corp., parent of Rockland Trust Co., posted net income of $8.9 million, or 41 cents per diluted share, for the second quarter, a decline of 20.2 percent when compared with the year-earlier period. more
Navigant, Columbus Credit Union to merge
Navigant Credit Union and Columbus Credit Union have jointly announced that the two institutions are merging, with Navigant remaining as the surviving credit union. more
RBS refuses to turn over data to Canadian regulators
Citizen Bank parent the Royal Bank of Scotland is one of more than 10 banks under scrutiny from authorities in a rate-rigging scandal and is refusing to turn over information to Canadian regulators, according to The New York Times. more
| 7/17/12
Webster revenue up 6% in 2Q
Webster Financial Corp., the holding company for Webster Bank, has announced net income available to common shareholders of $40.6 million, or $.44 per diluted share, for the quarter ended June 30 up 6 percent from $38.3 million, or $.42 per diluted share for the first quarter ended March 31. more
U.S. stocks rise as banks rally after Moody’s downgrades
U.S. stocks rose, after yesterday’s selloff, as the downgrade of global banks by Moody’s Investors Service was followed by rallies in financial shares while the European Central Bank announced changes to its lending program. more
U.S. stock futures rise on speculation central banks will act
U.S. stock futures rose, indicating the Standard & Poor’s 500 Index will complete a second straight weekly advance, on speculation central banks will act to boost economies as Europe’s debt crisis threatens growth. more
BofA dropped by Sallie Mae as Barclays wins college card
Bank of America Corp., the second- biggest U.S. lender, divested a $1.3 billion credit-card portfolio after SLM Corp. chose Barclays Plc. for its college-savings program. more
WashTrust collects 100 tons of peanut butter in 12 years
The Washington Trust Co. collected more than six tons of peanut butter during this year’s annual drive, bringing the bank’s 12-year total to more than 100 tons of peanut butter. more
| 6/13/12
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