Financial Services
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BofA urges dismissal of U.S.’s $1B faulty mortgages suit
Bank of America Corp. urged a federal judge to throw out a $1 billion fraud lawsuit filed by the U.S. alleging it sold defective residential mortgage loans to Fannie Mae and Freddie Mac that defaulted. more
Santander names Javier Marin as CEO after Saenz quits
Banco Santander SA, Spain’s biggest bank, named Javier Marin as its new CEO, turning to a leader from a younger generation after Alfredo Saenz resigned. more
Capital Properties 1Q profit drops
Capital Properties Inc. reported a 33.5 percent drop in profit to $340,000, or 5 cents per share, during the first quarter of 2013 compared with earnings of $511,000, or 8 cents per share, during 2012. more
| 4/25/13
Dowling tapped as Brown investment officer
Joseph L. Dowling III has been named the new chief investment officer at Brown University effective June 2013, the school announced Thursday. more
Bank RI parent sees bottom line rise in 1Q
Brookline Bancorp Inc. – the parent company of Bank Rhode Island – saw its bottom line rise 38.8 percent during the first quarter of 2013, the bank announced Thursday. more
| 4/25/13
Wash Trust 1Q profit declines to $7.4M when CDO liquidates
(Updated, 1:05 p.m.) Washington Trust Bancorp Inc., parent company of The Washington Trust Co., reported first-quarter net income of $7.4 million, or 45 cents per diluted share, on Monday, a decline of 12.1 percent from the first three months of 2012. more
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
Social Venture Partners provides $20K to Metryx
Social Venture Partners of Rhode Island provided a $20,000 loan to Metryx LLC, “further strengthening the collaboration between these two organizations,” said SVPRI in a release. 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
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