Financial Services

Berkshire Bank pledges to advance workplace ‘diversity and inclusion’

PROVIDENCE – Berkshire Bank CEO Richard M. Marotta has signed a pledge for the bank to advance “diversity and inclusion” in the workplace.Berkshire Bank...
WASHINGTON TRUST reported a 2.3% decrease in profit in the second quarter ended June 30, compared with the .same period last year. GREATER CITY PROVIDENCE/JEF NICKERSON

Washington Trust posts slight decrease in quarterly profit

WESTERLY – Washington Trust Bancorp Inc. reported Monday a 2.3% drop in net income in the second quarter, driven by higher rates paid on...
BLUE CROSS & Blue Shield of Rhode Island has been selected as health care insurance administrator for Lifespan in 2020.

BCBSRI lands Lifespan contract

PROVIDENCE – Blue Cross & Blue Shield of Rhode Island has landed another big contract.Just days after the announcement that the health insurer had...
CITIZENS BANK's holding company reported net income of $453 million in the second quarter ended June 30, a 7% increase from the same period last year. /PBN FILE PHOTO

Citizens Bank posts 7% gain in quarterly profit

PROVIDENCE – Citizens Bank’s holding company Friday reported a 7% increase in second quarter net income from the same period last year, driven by...

Bristol County Savings Bank awards $346K to nonprofits in R.I., Mass.

PAWTUCKET – Bristol County Savings Bank, through its charitable foundation, recently awarded $62,760 to nine nonprofit organizations in Pawtucket and Providence, part of $346,160...
PBN PHOTO/DAVE HANSEN

Five Questions With Patricia Octeau

Patricia Octeau | Executive director, Rhode Island Bankers Association1. What are your main duties? My primary duty is to manage our association, which consists...
SPURRING REDEVELOPMENT: Pictured above is the former Apex department store in Pawtucket. The city could benefit from a new law that aligns tax-increment financing authority in the city to newly created federal opportunity zones, which would allow the city to finance public infrastructure improvements to facilitate ­redevelopment.
 / PBN FILE PHOTO/ARTISTIC IMAGES

TIF expanded to Pawtucket opportunity zones

A new law that aligns tax-increment financing authority in Pawtucket to newly created federal opportunity zones is seen by lawmakers as having the potential...

LIBOR phaseout primer

In July 2017, the head of the UK Financial Conduct Authority recommended a phaseout of the London Interbank Offered Rate by Dec. 31, 2021.LIBOR...
PBN PHOTO/MIKE SKORSKI

JASON CAROSI, 37

40 Under Forty 2019 winner: JASON CAROSI | 37 SENIOR VICE PRESIDENT, SENIOR RELATIONSHIP MANAGER – WEBSTER BANKWhat is the best advice you have ever received?...
PBN PHOTO/MIKE SKORSKI

SHAUN O’ROURKE, 38

40 Under Forty 2019 winner: SHAUN O’ROURKE | 38 DIRECTOR OF STORMWATER AND RESILIENCE, RHODE ISLAND INFRASTRUCTURE BANKWhat is the best advice you have ever received?...
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