Banking - Providence Business News

TD Bank reports $181M quarterly loss in preparation for U.S. fines

Financial Services 09/02/2024

TORONTO – TD Bank Group has reported a $181 million loss for the quarter that ended on July 31 after it had to set...

WORKING OUT: Centreville Bank employees use workout equipment at the company’s full-sized wellness center at its West Warwick headquarters.  COURTESY CENTREVILLE BANK

Centreville Bank going above and beyond to offer employee support

Health Services 08/16/2024

PBN Healthiest Employers Awards 2024 100-499 EMPLOYEES #1. Centreville Bank CEO (or equivalent): Harold M. Horvat, Chairman, CEO and president Number of employees: 252 CENTREVILLE BANK leadership wants...

TD Bank Appoints Steve Moroney Commercial Market President for Connecticut and...

People on the Move 07/16/2024

TD Bank has appointed Steve Moroney as its Commercial Market President for Connecticut and Rhode Island. Based in New Haven, Steve will lead TD's...

CASH-ONLY CROP: Some of the products for sale at the cannabis retail store called Mother Earth Wellness in Pawtucket. Despite the Biden administration’s move to recategorize cannabis as a less-dangerous controlled drug on the federal level, it won’t do much to persuade banks to enter the sector.  PBN FILE PHOTO/MICHAEL SALERNO

Pot regulation proposal leaves banking problem

Financial Services 06/07/2024

The Biden administration’s move to reclassify marijuana as a less-dangerous controlled drug was hailed as a monumental step in reshaping national policy. But it...

R.I., other states tell money transfer company to cease activities

Financial Services 03/25/2024

CRANSTON – State bank regulators have ordered a California-based money transfer business to stop activities in Rhode Island, citing the company's "declining financial position." Thirty-eight...

WASHINGTON TRUST Bancorp Inc., the parent company for The Washington Trust Co., says its net income for 2023 was $48.2 million compared with $71.7 million it posted in 2022. / PBN FILE PHOTO/SCOTT KINGSLEY

Washington Trust’s year-end profit declines 32.8% to $48.2M

Economic Activity 01/24/2024

WESTERLY – The Washington Trust Bancorp Inc. on Wednesday posted a profit of $48.2 million for 2023, down 32.8% from the $71.7 million it...

WEBSTER FINANCIAL Corp., parent company of Webster Bank, reported a $867.8 million profit in 2023, marking a 34.7% increase over the year prior.

Webster Bank parent sees profits rise 35% in 2023 but decline...

Economic Activity 01/24/2024

STAMFORD, Conn. – Webster Financial Corp., the parent company of Webster Bank, says it recorded a $867.8 million profit in 2023, marking a 34.7%...

BANK OF AMERICA Corp. saw its fourth-quarter profit fall more than 50% from a year earlier because of lingering banking industry headwinds. / AP FILE PHOTO/MICHAEL DWYER

Bank of America profits fall 50% in fourth quarter of 2023

Economic Activity 01/12/2024

NEW YORK (AP) – Bank of America Corp. saw its fourth-quarter profit fall more than 50% from a year earlier as the banking industry...

BankNewport Names Cheryl Bonvegna as Vice President, Small Business Lending Underwriter

People on the Move 01/03/2024

BankNewport is pleased to announce that Cheryl Bonvegna has been named vice president, small business lending underwriter of the Credit Administration department. In this...