Updated December 5 at 12:29am
Financial Services
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Washington Trust Bancorp Inc., the parent company of The Washington Trust Co., reported a 3.9 percent decline in net income in the second quarter to $11.1 million, or 64 cents per diluted share, from $11.5 million, or 68 cents per diluted share, a year earlier. more
People do business with people – not with companies. That is why relationships built on a foundation of trust are so important. Everything starts with trust. Trust is the foundation of a company's reputation and its customer/member value. … more
(Updated, 5:35 p.m. and 6 p.m.) Morgan Stanley was alone among the largest U.S. banks in stumbling through the Federal Reserve’s annual stress tests, getting conditional approval to make payouts to shareholders. Thirty other firms passed, while two subsidiaries failed, including Santander Bank. more
Federal Reserve Bank of Boston President Eric Rosengren moved more firmly into the camp of hawkish policy makers, warning that waiting too long to raise interest rates threatened to overheat the U.S. economy and could risk financial stability. more
Johnson & Wales University has registered to start offering certified financial professional education, according to a press release. more
Editor's note: This is the first of a four-part series exploring how well Rhode Island cities and towns are funding municipal pension and benefit plans and the public-policy ramifications. The financial challenges of taking care of her … more
Bank of America Merrill Lynch recently provided a $5 million investment in new markets and historic tax credits to help the nonprofit WaterFire rehabilitate a warehouse in the Valley neighborhood. more
(Updated 12:05 and 3:29 p.m.) Citizens Bank on Wednesday broke ground at the development site for its new corporate campus slated to open in 2018. more
Edward A. Hjerpe III is president and CEO of Federal Home Loan Bank of Boston. The bank is working with New England states to spur economic development through various programs, including Jobs for New England and Helping to House New England. Hjerpe talks with Providence Business News about those programs and how Rhode Island fits into the overall mix. more
(Updated, 6:14 p.m.) In its first full-year earnings report as an independent bank, Citizens Financial Group Inc. showed continuing improvement in its operations. more
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