Financial Services
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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
BofA agrees to pay Fannie Mae $3.6B in mortgage deal
Bank of America Corp., the second-biggest U.S. lender by assets, agreed to pay Fannie Mae $3.6 billion to resolve home-loan repurchase claims. 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
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
WashTrust collects 100 tons of peanut butter in 12 years
The Washington Trust Co. collected more than six tons of peanut butter during this year’s annual drive, bringing the bank’s 12-year total to more than 100 tons of peanut butter. more
| 6/13/12
Local banks make Forbes list of ‘Best Banks in America’
Four banks with local operations – Bank of America Corp., Brookline Bancorp., Rockland Trust parent company Independent Bancorp and Webster Bank – made Forbes magazine’s 2013 list of the “Best Banks in America.” more
| 1/23/13
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
Washington Trust finances multi-use project
Washington Trust’s Commercial Real Estate Group has provided a $4.2 million commercial mortgage to Parkingway Acquisitions LLC for the purchase of a multi-use property near the historic district of Quincy, Mass., according to a press release from the bank. more
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