Navigant Credit Union’s 21 percent spike in total loans in 2013 over the previous year spotlights the Smithfield-based financial institution’s notable growth in two segments – residential mortgages and home-equity loans – as lenders in Rhode Island and nationwide struggle with the sluggish and competitive marketplace.
As Santander Bank’s new commercial markets director for New England, Ken Martin is at the epicenter of intense competition in the financial marketplace. He oversees commercial-business relationships among companies in New England with revenue of up to $500 million. Martin heads commercial teams with a combined 110 banking professionals, about 30 of whom are based in Rhode Island.more
Coastway Bankcorp Inc. became a publicly traded commodity on the Nasdaq stock exchange this year, retaining William A. White in the top position as president, director and CEO. Originally organized as a credit union in 1920 and converted to a community bank and mutual holding company in 2009, Coastway has nine local branches in Cranston, Providence, Warwick, East Providence, East Greenwich and Lincoln. more
Royal Bank of Scotland Group PLC posted the biggest full-year loss since its bailout in 2008 as CEO Ross McEwan outlined plans to return what he called the industry’s least-trusted lender to profit.
By Gavin Finch and Howard Mustoe Bloomberg News
Bank of America Corp. may have a new mortgage problem on its plate, saying on Tuesday that federal investigators are looking into whether the bank violated requirements of a U.S. government housing program.
The Rhode Island chapter of the Turnaround Management Association will feature a panel on the “State of the Banking Industry” at its winter program on Feb. 27, according to an announcement from the organization.
In contrast to the upward trend in mergers and acquisitions in the U.S., those types of deals have been declining in New England for three consecutive years, according to Mergermarket Group’s “ New England M&A Trend Report: 2013.”
A workshop on “Doing Business with Canada” will be held Wed., Feb. 26 at Bryant University, according to the R.I. Commerce Corporation. The workshop is sponsored by RICC Procurement Technical Assistance Center in partnership with the Small Business Administration. I
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