Banking
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WCCU donates $5k to Chamber Foundation
“We are honored to donate these funds to support our local community and local business owners who were affected by Hurricane Sandy,” said Steve White, president and CEO of Westerly Community Credit Union. more
Five Questions With: Gregory Cabral
Partner in BlumShapiro talks about the firm’s recent merger with Sullivan & Co. more
Why should taxpayers give big banks $83B a year?
On television, in interviews and in meetings with investors, executives of the biggest U.S. banks -- notably JPMorgan Chase & Co. Chief Executive Jamie Dimon -- make the case that size is a competitive advantage. It helps them lower costs and vie for customers on an international scale. Limiting it, they warn, would impair profitability and weaken the country’s position in global finance. more
Sovereign recovery boosting parent
Spain’s Banco Santander purchased Sovereign Bancorp four years ago when the United States banking industry was in crisis and Sovereign was deep in red ink. more

By Patrick Anderson
PBN Staff Writer | 3/4/13

Washington Trust finances for One Financial
Washington Trust’s Commercial Real Estate Group has provided commercial mortgage financing for a historic property, One Financial Center Plaza, in downtown Providence, according to a press release from the bank. more
SEED, Mansfield Bank sponsor workshops
The South Eastern Economic Development Corp. and Mansfield Bank are sponsoring two business workshops for current or potential entrepreneurs. more
DEM, URI tackle estate planning, other topics
Estate planning, business agreements, trusts and retirement for farm families are topics to be covered in a March 25 workshop at the University of Rhode Island’s East Farm, according to a press release. The workshop is sponsored by URI and the R.I. Department of Environmental Management. more
RBS loss widened in 2012 on swaps, PPI redress provisions
Royal Bank of Scotland Group PLC, Britain’s biggest taxpayer-owned lender, posted a wider full-year loss after it set aside an additional 1.1 billion pounds ($1.6 billion) to compensate clients wrongly sold insurance and interest-rate hedging products. more
BofA settlement process ‘seriously flawed,’ AIG expert says
Bank of America Corp.’s $8.5 billion mortgage-bond settlement was reached through a “seriously flawed” process, said an expert for American International Group Inc., which has challenged the deal. more
Conn.-based SI Financial Group buying Newport Fed
Newport Bancorp Inc., parent company of Newport Federal Savings Bank, is being bought by SI Financial Group Inc., the parent of Savings Institute Bank and Trust Company, for a combination of stock and cash valued at about $61.3 million. more
| 3/5/13
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