Banking - Providence Business News

AT IT AGAIN: State Rep. Karen Alzate, D-Pawtucket, says the first bill she filed this legislative session was one that would restrict payday lenders, a measure that some legislators have been trying to get passed for more than a decade.  PBN PHOTO/MICHAEL SALERNO

Payday lender opponents renew legislative effort

Financial Services 03/14/2025

Advocates for payday lending reform celebrated lin 2023 when the House voted overwhelmingly for a bill they believed would finally curtail so-called “payday lenders,”...

Citizens CEO received 20% pay bump in 2024 despite drop in...

Financial Services 03/12/2025

PROVIDENCE – The CEO of Citizens Financial Group Inc. received a 20% increase in pay last year, despite a dip in percentage of shareholder...

SEC filing of the week: BankRI parent posts $68.7M profit in...

Economic Activity 01/31/2025

PROVIDENCE – Brookline Bancorp Inc., the parent company of Bank Rhode Island that is being acquired by Berkshire Hills Bancorp Inc., has posted 2024...

THE WASHINGTON TRUST Bancorp Inc. has reported a loss of $28.1 million for 2024, down 41.7% from the $48.2 million profit it reported the year prior because it repositioned in balance sheet in December. / PBN FILE PHOTO/SCOTT KINGSLEY

Washington Trust reports $28.1M loss in 2024 because of ‘repositioning’ strategy

Economic Activity 01/30/2025

WESTERLY – Washington Trust Bancorp Inc. has posted a loss of $28.1 million for 2024 after the bank "repositioned" its balance sheet in December...

WASHINGTON TRUST BANCORP INC. says it will take a one-time $70 million loss in order to shed its balance sheet of low-yielding assets and to boost its earnings in the coming year and beyond. / PBN FILE PHOTO/SCOTT KINGSLEY

Washington Trust sells assets at a $70M loss to improve earnings...

Economy 12/23/2024

WESTERLY – Washington Trust Bancorp Inc. says it is "repositioning" its balance sheet in a strategy that has the company selling off low-yielding assets...

BankRI parent and Berkshire Bank parent strike $1.1B deal to merge

Economic Activity 12/16/2024

PROVIDENCE – Brookline Bancorp Inc., the parent company of Bank Rhode Island, and Berkshire Hills Bancorp Inc. have agreed to merge in an all-stock...

FINANCIAL MATTERS: Sen. Jack Reed speaks to parents and students about paying for higher education during a recent college financial aid workshop at the Community College of Rhode Island.  PBN PHOTO/MICHAEL SALERNO

Those with student loan debt are finding forgiveness elusive

Financial Services 12/06/2024

In October, Pawtucket kindergarten teacher Kelly Beckford received an early holiday gift from President Joe Biden, whose administration wiped away $46,000 of her student...

In the bank

Executive Poll 10/25/2024

How many times a month do you visit a bank branch on average? Rarely: 67% Once per month: 33% 2-5 times per month: 0% More than 5 times...

BankNewport Names Denise M. DiDonato Senior Vice President, Chief Credit Risk...

People on the Move 10/16/2024

BankNewport announces that Denise M. DiDonato has been named senior vice president, chief credit risk officer. In this role, DiDonato has overall responsibility for...