Financial Services
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Webster’s strong Q4 powers 15% gain in yearly profit
Webster Financial Corp., parent company of Webster Bank, reported a 20.2 percent gain in fourth-quarter profit to $48.5 million. more
| 1/18/13
BofA profit drops on lower revenue as mortgage cleanup continues
Bank of America Corp. reported profit dropped 63 percent as revenue shrank and costs mounted from faulty foreclosures and flawed home loans. more
Slater invests $250K in Absolute Commerce
The Slater Technology Fund has committed $250,000 in funding to Absolute Commerce Inc., a company developing solutions to make it easier and cheaper for large companies to purchase the goods and services they need. more
| 1/15/13
Mortgage bonds slump as Fed’s buying boost fades
After posting their worst returns since 1999, government-backed mortgage bonds are starting 2013 with losses on speculation the end of Federal Reserve purchases is in sight and as homeowner refinancing roils the market. more
Beacon Mutual to issue 4% policyholder dividend
The Beacon Mutual Insurance Co. will issue a 4 percent dividend payment to its 11,700 policyholders, the company announced Thursday. more
| 1/10/13
Nautic Partners completes sale of Agilex to MidOcean Partners
MidOcean Partners acquired Agilex Flavors & Fragrances from Providence-based middle-market private equity firm Nautic Partners LLC on Dec. 19, 2012, MidOcean announced Wednesday. more
| 1/10/13
Providence Equity Partners acquires Miller Heiman
Global private equity firm Providence Equity Partners has acquired Reno, Nev.-based Miller Heiman, Miller announced Wednesday. more
| 1/9/13
Sullivan & Co. merges with BlumShapiro
Public accounting firm Sullivan & Co. LLP has merged with BlumShapiro, the largest New England-based accounting, tax and business consulting firm, effective Jan. 1. more
| 1/8/13
BofA escaping Countrywide to help Moynihan rebuild
Bank of America Corp. yesterday struck deals to settle lending complaints, sell rights to service $300 billion of mortgages and repair relations with regulators. For CEO Brian T. Moynihan, it offers his best chance to rebuild the home lending business. more
U.S. banks to pay $8.5B to settle foreclosure missteps
Ten of the largest U.S. mortgage servicers will pay a combined $8.5 billion under an agreement that will end case-by-case reviews of foreclosure-abuse claims stemming from a 2011 deal with regulators more
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