Financial Services
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WashTrust posts 15% increase in 3Q earnings
Washington Trust Bancorp Inc., parent company of The Washington Trust Co., has posted a net income of $8.9 million, or 54 cents per diluted share, for the third quarter, a 15 percent increase from the $7.58 million, or 46 cents per diluted share, during the same quarter of 2011. more
NewportFed holding company sees profits surge 33% in 3Q
Newport Bancorp Inc., the holding company for Newport Federal Savings Bank has posted a third quarter net income of $417,000, or 12 cents per diluted share, a 33 percent increase from the $278,000, or 8 cents per diluted share, posted for the quarter ended Sept. 30, 2011. more
Rockland parent posts mixed results in 3Q
Independent Bank Corp., the parent company of Rockland Trust Co., has announced net income of $11.6 million, or 53 cents per diluted share, for the third quarter of 2012, a three percent decrease year-over-year from the third quarter 2011, but a 23 percent increase from the three months ended June 30. more
J.M. Doherty teams up with Partners Insurance
J.M. Doherty Insurance Agency Inc. and BayCoast Bank affiliate Partners Insurance Group LLC have entered into an agreement for J.M. Doherty to become the sixth privately owned local insurance agency in the Partners Insurance Group network. more
| 10/18/12
BofA posts lower 3Q profit on Merrill legal costs
Bank of America Corp., the second- largest U.S. lender, said third-quarter profit dropped 95 percent on litigation expenses and an accounting charge tied to the firm’s debt. more
Raimondo launches Empower RI initiative
A new financial empowerment plan, Empower RI, was announced Tuesday by R.I. General Treasurer Gina M. Raimondo. more
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
Webster’s net income grows 7% in 3Q
Webster Financial Corp., the holding company for Webster Bank, posted a net income of $44.4 million, or $.48 per diluted share, for the quarter ending Sept. 30., an increase of 7 percent when compared to the same quarter in 2011. more
Citizens Bank has most deposits in R.I., says FDIC
RBS Citizens Bank remained Rhode Island’s leading deposit holder during the fiscal year ended June 30, according to the Federal Deposit Insurance Corporation. more
| 10/9/12
Campanelli to leave Flagstar
Former Sovereign Bank executive Joseph Campanelli is leaving his position as president and CEO of Flagstar Bancorp Inc. to pursue other interests, reported Crain’s Detroit Business. more
| 10/5/12
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