Banking
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Newport Fed’s bottom line falls 65% in 1Q
Newport Bancorp Inc., parent of Newport Federal Savings Bank, saw its bottom line fall 64.9 percent year over year during the first quarter of 2013. more
| 4/19/13
BofA, Citizens ‘about average,’ say J.D. Power and Associates
On J.D. Power and Associates 2013 retail banking ratings for New England, both Bank of America and Citizens Bank ranked “about average” across the board, while Sovereign Bank was labeled as “the rest,” the lowest available score. more
| 4/18/13
BofA misses estimates as mortgage banking weighs on results
(Updated, 10:15 a.m.) Bank of America Corp. reported first-quarter profit that missed analysts’ estimates as lower mortgage banking income and higher legal costs slowed the firm’s turnaround. The shares dropped 3 percent in early trading. more
Independence Financial Partners hiring
While many companies are still downsizing downsize and the job market in Rhode Island struggles to expand, Independence Financial Partners, the local John Hancock Financial Network firm, is hiring, said spokeswoman Deb Nelson. more
Survey: 29% of teens will depend on parents until 25 or older
One-in-four teens believe they won’t achieve a positive cash flow, but will depend largely on financial assistance from their parents or guardians, until they’re at least 25 to 27 years old, teen advocacy group Junior Achievement of Rhode Island announced in an April 5 press release. more
Navigant members to get bonus dividend
Navigant Credit Union members will receive a bonus dividend of 2 percent of interest accrued on accounts in 2012, according to a press release. This marks 25 consecutive years the credit union awarded a dividend to its members. more
Amica donates $37K to Boston Children’s Hospital
Lincoln-based Amica Mutual Insurance Co. donated $37,000 to Boston Children’s Hospital at Comcast sports Net’s Ace Ticket Studios on April 5. The donation brings Amica’s total gift to $177,00 during the past five years. more
RBS said to fire derivatives trader weeks after Libor fine
Royal Bank of Scotland Group PLC dismissed a London-based interest-rates trader, weeks after settling with regulators over its part in the Libor scandal, two people with knowledge of the situation said. more
Five Questions With: Norman LeBlanc
CPA and KLR shareholder talks about the company’s work and developing client relationships. more
Webster taps SapientNitro
Webster Bank has named SapientNitro as its marketing agency of record, according to a press release from the bank. The marketing efforts will include research and strategy development, website development, online creative, print and radio advertising and broadcast production. Webster Bank has been working with Sapient Nitro since 2007. more
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