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SEEKING INVESTMENT: Inclusion in the nationwide Opportunity Zone program could mean an influx of new investment and development for regions of the state deemed low-income census tracts. Each of the 25 Rhode Island tracts, the maximum nominations allowed by each state, has a greater-than-27 percent poverty rate. Investors in the program – who could fund everything from startups and business expansions to real estate deals – will be eligible for tax benefits. / SOURCE: R.I. COMMERCE CORP.

New Opportunity Zone program could help banks meet CRA requirements

Included in the 2017 $1.5 trillion federal tax overhaul heralded by President Donald Trump and passed by Congressional Republicans was the Opportunity Zone program.Encouraging...
JAMES WALLACE is executive vice president and chief operating officer of BayCoast Bank in Swansea. / COURTESY BAYCOAST BANK

Five Questions With: James Wallace

James Wallace is executive vice president and chief operating officer at BayCoast Bank. He was recently appointed to the position after working at the...
JAMES WALLACE is executive vice president and chief operating officer of BayCoast Bank in Swansea. / COURTESY BAYCOAST BANK

BayCoast Bank adds new COO, CFO

SWANSEA – BayCoast Bank last week announced new appointments to its C-suite.James Wallace, who has been with the Swansea-based bank since 1990, has been...
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