Banking
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Sovereign posts 11th consecutive quarter of profitability in 3Q
Sovereign Bank, N.A. – a subsidiary of Banco Santander S.A. – saw its 11th consecutive quarter of profitability, with net income of $123 million. more
| 10/29/12
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
Survey: Cash is king for many companies
The expression “cash is king” has perhaps never rang truer than today, with companies holding onto more money than in years past, according to a recent national survey. more

By Michael Souza
PBN Staff Writer | 10/29/12

TD Bank loses customer information data
As many as 500 TD Bank customers in Rhode Island and 73,000 in Massachusetts could be affected by the loss of two data backup tapes that contained personal information such as Social Security numbers and driver's license numbers. more
Wash Trust provides $3.8M for R.I., Conn. projects
The Washington Trust Co. recently provided nearly $3.8 million to two customers for the purchase of commercial properties in Rhode Island and Connecticut. more
| 12/11/12
BofA agrees to pay Fannie Mae $3.6B in mortgage deal
Bank of America Corp., the second-biggest U.S. lender by assets, agreed to pay Fannie Mae $3.6 billion to resolve home-loan repurchase claims. more
R.I. homeowners receive 4Q mortgage relief valued at $59M
Homeowners in Rhode Island are continuing to receive financial relief from the five mortgage service providers at the center of the National Mortgage Settlement, Attorney General Peter F. Kilmartin announced. more
RBS, UBS traders to face arrest within month in Libor probe
U.K. prosecutors are poised to arrest former traders and rate setters at UBS AG, Royal Bank of Scotland Group Plc and Barclays Plc within a month for questioning over their role in the Libor scandal, a person with knowledge of the probe said. more
BofA jumbo-deal delay shows market on life support
A delay of Bank of America Corp.’s return to selling mortgage securities shows the housing bust is still limiting the market’s revival. more
Flagstar announces sale of Northeast-based commercial loans
As part of a renewed focus on the Michigan area, Flagstar Bancorp Inc. has entered into a definitive agreement with a wholly-owned subsidiary of CIT Bank for CIT to acquire $1.264 billion in commercial loan commitments from Flagstar. more
| 1/3/13
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