Banking
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Interest rates at R.I. banks dropped 25% from ’11, study says
Interest rates offered by Rhode Island’s banks and credit unions for certificate of deposit and savings accounts fell an average 25 percent between 2011 and 2013, according to a study released Wednesday by GoBankingRates.com. more
| 3/6/13
BOE’s King says government should split up RBS, accept loss
Bank of England Governor Mervyn King urged the government to split up Royal Bank of Scotland Group Plc and speed up the return of Britain’s biggest publicly owned lender to private ownership following its bailout in 2008. 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
BankRI profits jump 35% as parent adds services office, 50 jobs in R.I.
Bank Rhode Island – the local subsidiary of Brookline Bancorp Inc. – saw net income jump 35.5 percent during 2012, according to its year-end report filed with the Federal Deposit Insurance Corporation. more
| 3/5/13
Rockland Trust expands in Mass.
Rockland Trust has expanded its Middlesex County presence with the conversion of nine Central Bank branches in Massachusetts, in Arlington, Burlington, Chestnut Hill, Malden, Medford, Melrose, Somerville and Woburn. The acquisition of Central Bank was finalized Nov. 10, 2012. more
SBA loan process could ease
Proposed regulations to streamline the Small Business Administration loan application process are intended to lessen paperwork and provide greater access to capital for borrowers and lenders. more
Washington Trust kicks off PB Drive
During the month of March, Washington Trust is collecting peanut butter for Rhode Island food banks to help fight hunger in the state, according to a press release from the bank. more
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
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
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