Financial Services
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Stocks rise to highest level since May after jobs report
U.S. stocks rose, sending the Standard & Poor’s 500 Index toward the highest level since May, after data showed payrolls climbed more than forecast even as the jobless rate unexpectedly rose to a five-month high. more
After 44 years, R.I.’s first bankruptcy judge retires
After serving 44 years as the first and only bankruptcy judge in the state, U.S. District Judge Arthur Votolato celebrated his retirement among friends on Tuesday. more
Capital Properties profits drop 28% in 2Q
Capital Properties Inc. reported a 28 percent drop in profits from $807,000, or 12 cents per diluted share, during the second quarter of 2011 to $578,000, or 9 cents per diluted share, during the same period this year. more
| 7/31/12
RBS prepares for Libor settlement
The Royal Bank of Scotland PLC is negotiating a settlement with the authorities investigating the bank’s involvement in the Libor scandal, according to the Wall Street Journal. more
| 7/31/12
BankRI parent sets aside $4.2M for losses tied to 38 Studios
Brookline Bancorp Inc., the parent company of Bank Rhode Island announced on Thursday it has set aside $4.2 million to cover possible losses from two business loans BankRI issued shortly after Brookline bought the bank in January. more
Division of Taxation mandates e-filing
Tax return preparers will be penalized if they fail to electronically file tax returns in the filing season starting Jan. 1, 2013, according to the R.I. Division of Taxation. more
Sovereign Bank profits rise 27% in 2Q
Sovereign Bank, N.A. – a subsidiary of Banco Santander S.A. – saw its 10th consecutive quarter of profitability, with net income of $127 million, an increase of 27 percent compared with the $100 million net income reported in the second quarter of 2011. more
| 7/26/12
Oppenheimer, RBS Citizens reach deal
Oppenheimer Holdings Inc., the investment bank run by Albert “Bud” Lowenthal, reached a client-referral agreement with RBS Citizens Financial Group Inc. to share middle-market clients for some services. more
Wash Trust posts record profit in 2Q
Washington Trust Bancorp Inc., parent company of The Washington Trust Co., posted a record second quarter net income of $8.7 million, or 53 cents per diluted share, a rise of 15.2 percent compared to the second quarter 2011 figures. more
NewportFed second-quarter profit declines 42 percent
Newport Bancorp Inc. the holding company for Newport Federal Savings Bank, on Friday reported second-quarter net income of $253,000, a 42 percent decline from the $439,000 profit posted during the same quarter ending June 30 last year. more
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