Luring business away from larger banks, maintaining diversified earnings streams and expanding into mortgage markets outside Rhode Island led Washington Trust Bancorp Inc., parent of The Washington Trust Co., to post a record profit of $36.2 million for 2013, an increase of 3.1 percent compared with $35.1 million of net income for 2012.
Steve Issa has been mining the commercial-banking territory as executive vice president and New England market president for Customers Bank since last March. It’s a deeply familiar landscape. He had a similar position with Flagstar Bank when its New England commercial portfolio, along with its 14-member team, was acquired by Customers Bank. Issa is part of a former Sovereign Bank team largely reassembled at Wyomissing, Pa.-based Customers Bank by CEO Jay Sidhu. more
Kenneth B. Martin joined Santander Bank N.A. as director of commercial markets, the bank announced Thursday. Martin will oversee Santander’s New England commercial business relationships with revenues up to $500 million.
Santander Bank N.A. introduced its first credit card in the U.S., the Santander Bravo Master Card, on Feb. 5, the bank announced. It is the first card introduced since the rebranding of Sovereign Bank to Santander in October.
Bank of America Corp., Citigroup Inc. and Credit Suisse Group AG were among 16 of the world’s biggest banks sued by the U.S. Federal Deposit Insurance Corp. for allegedly manipulating the London interbank offered rate from 2007 to 2011.
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