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EDWARD O. Handy III is the chairman and CEO of Westerly-based Washington Trust Bancorp Inc., the second largest Rhode Island-based bank. / PBN FILE PHOTO/MICHAEL SALERNO

Banks are optimistic tax reform will benefit the bottom line long-term

The Rhode Island banking community has largely celebrated the sweeping tax overhaul approved by Congress that among other things lowered the corporate tax rate...
AN INTERIOR RENDERING of the new 420,000-square-foot Citizens Financial Group Inc. corporate campus in Johnston. The facility is on schedule to be completed in time for employees to start working there in August. / COURTESY CITIZENS BANK

Citizens campus in Johnston on schedule for August opening

JOHNSTON – Citizens Financial Group Inc. is on schedule to complete its 420,000-square-foot campus in time for employees to start working there in August.Chairman...
CITIZENS BANK is a wholly owned subsidiary of Providence-based Citizens Financial Group Inc. The bank posted net income of $1.7 billion in 2017, a 58.1 percent increase on its 2016 performance. / BLOOMBERG FILE PHOTO/KELVIN MA

Buoyed by new tax law, Citizens increases profit in 4Q and...

PROVIDENCE – Buoyed by a $331 million after-tax benefit from the new tax law, Citizens Financial Group Inc. on Friday reported 2017 profit increasing...
FLEXIBLE DOLLARS: David Caprio, president of Children’s Friend, a nonprofit social service and education agency in Providence, speaks to the kids at Friendship Center. Caprio says although individual and corporate donations make up less than 10 percent of the nonprofit’s budget, those are its most flexible dollars. / PBN PHOTO/MICHAEL SALERNO

Nonprofits wary of tax law’s impact on giving

For nonprofits that solicit individual and corporate donations, one of the potential pitfalls of the new federal tax law is the doubling of the...
CITIZENS BANK is a wholly owned subsidiary of Providence-based Citizens Financial Group Inc. The bank posted net income of $1.7 billion in 2017, a 58.1 percent increase on its 2016 performance. / BLOOMBERG FILE PHOTO/KELVIN MA

Citizens Bank rewards employees, charity in wake of tax reform

PROVIDENCE – Standing to gain hundreds of millions of dollars in the wake of tax reform, Citizens Financial Group Inc. is sharing some of...
COURTESY R.I. COMMERCE CORP./PRESTON SCOTT COHEN INC.

Commerce updates Amazon web pitch with new renderings, testimonials

PROVIDENCE – The R.I. Commerce Corp. updated its RIforAmazon.us domain to include new renderings of proposals for Amazon.com Inc.’s second headquarters, HQ2.The drawings include...
BRUCE VAN SAUN, CEO of Citizens Financial Group Inc., sees room to grow in fee-based revenue, and as a result the bank is opening its first wealth-management center in the Boston area. / PBN FILE PHOTO/TRACY JENKINS

Citizens to open wealth center in Massachusetts

BOSTON – Citizens Financial Group Inc. is opening its first wealth-management center in the Boston area, according to a Boston Business Journal report.The Providence-based...
CITIZENS FINANCIAL Group Inc. is the Providence-based parent company of Citizens Bank, the largest Rhode Island-based bank. / BLOOMBERG FILE PHOTO/KELVIN MA

Citizens sees profit, revenue gains in 2017 3Q

PROVIDENCE – Citizens Financial Group Inc., parent of Citizens Bank, posted net income in the third quarter of $348 million, an increase of 17.2...
BETH JOHNSON of Citizens Financial Group Inc. has been named one of the top 25 most powerful women in banking by American Banker. / COURTESY CITIZENS BANK

Citizens Bank’s Johnson named one of the most powerful women in...

PROVIDENCE – Beth Johnson, chief marketing officer and head of consumer strategy at Citizens Financial Group Inc., has been named one of the “most...
THE FEDERAL Deposit Insurance Corp. tracks banking statistics for all financial institutions it insures. / PBN FILE PHOTO

Rhode Island banks profit at nearly triple the national rate

PROVIDENCE – Rhode Island-based banks grew profit at a much faster clip than the rest of the country during the first half of 2017,...
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