Financial Services

BankNewport introduces OceanPoint Investment Solutions

NEWPORT – BankNewport has teamed up with the largest national independent broker-dealer to provide financial and advisory services through a subsidiary known as OceanPoint...

People’s Credit Union dresses down to raise money

MIDDLETOWN – People’s Credit Union employees recently replaced their usual office attire with casual clothes in order to raise money for Kiwanis Club of...

Centreville Bank awards $150K grant to Jonnycake Center of Peace...

PROVIDENCE – The Centreville Bank Charitable Foundation awarded a $150,000 grant to the Jonnycake Center of Peace Dale in South Kingstown, according to a...

TD Bank regional president predicts flat growth rate in R.I. for...

PROVIDENCE – Steve Webb, TD Bank’s regional president for southern New England, predicted 1% growth in Rhode Island’s economy over 2020, according to a...

Five Questions With: Peter Nigro

Peter Nigro is the Sarkisian chair in financial services at Bryant University. He spoke to PBN about the economic outlook for 2020 and the...

Federal Home Loan Bank of Boston funds $945K for new housing...

PROVIDENCE – Rhode Island received $945,000 in grants as part of Federal Home Loan Bank of Boston’s $57.5 million funding initiative to support affordable...

Bank Rhode Island collects 1,466 gifts for children statewide

PROVIDENCE – Bank Rhode Island’s annual Holiday Giving Tree program collected 1,466 presents for local children in need this season, according to a news...

Citizens Financial Group recognized for mortgage company acquisition

PROVIDENCE – Rhode Island-based Citizens Financial Group Inc. ranked No. 1 for the “best strategic nonbank acquisition,” according to Bank Director’s 2020 RankingBanking study. Citizens’...
SHRINKING NUMBERS: Local banks have seen their net interest margin getting smaller over the last 12 months, which translates to lower interest income. That situation isn’t expected to change much in 2020./ SOURCES: SEC FILINGS; FDIC QUARTERLY BANKING PROFILE

Banks expected to continue feeling squeeze in lending margins

For Marc Perlman, principal owner and CEO of Ocean State Job Lot, the Federal Reserve’s outlook for 2020 is the best business fortune he...
KEEPING TABS: Leonard Lardaro, University of Rhode Island economics professor, says indictors for Rhode Island are looking grim, but he doesn’t foresee a coming downturn as severe as the previous one to hit the state. / PBN PHOTO/MIKE SKORSKI

Economists say next downturn won’t be as bad for R.I.

Rhode Island has cranes in the sky, unemployment below 4%, new companies such as Infosys Ltd. and new jobs have arrived in its capital...
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