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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...

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%...
COMPANY CRED: Bacary Diatta says his food company Kassumay LLC is going well, but it could be doing better if it was easier to obtain a business loan. 
PBN PHOTO/­MICHAEL SALERNO

Fear grows about reduced ability to access capital

When Bacary Diatta moved from Senegal to the United States in 2018, he knew he wanted to start a business that would add value...

Fed unleashes another big rate hike but hints at a pullback

WASHINGTON (AP) – The Federal Reserve pumped up its benchmark interest rate Wednesday by three-quarters of a point for a fourth straight time to...

R.I. Infrastructure Bank finances $122M in grants, loans in FY 22

PROVIDENCE – The Rhode Island Infrastructure Bank financed more than $122 million in low-interest loans and grants in fiscal year 2022, according to an...

BankNewport opens Warwick branch

NEWPORT – BankNewport has come to Warwick, commemorating the opening of its newest branch with a ribbon-cutting event on Nov. 30. The new branch at...

Bank of America triples investment in homeownership grant and loan programs

PROVIDENCE – Bank of America Corp. plans to triple the grants, low-interest loans and financial education programs for low- to moderate-income homebuyers, the bank...

Need a stimulus?

Is another round of federal funding and support needed for your business? Yes: 57% No: 43% Did your company benefit from a previous round of federal aid...

Centreville Bank opens Providence loan production office

PROVIDENCE – Centreville Bank opened its first self-standing loan production office in downtown Providence on Aug. 18, according to a news release. The office at...

R.I. Infrastructure Bank closes $33M in road and bridge program loans

PROVIDENCE – The Rhode Island Infrastructure Bank recently announced $32.5 million in low-interest loans for road and bridge projects in Providence, Warwick and Cumberland,...
STEADFAST: Mark S. Hayward, director of the SBA’s Rhode Island district office, says businesses that persevere will find the help they need to bounce back from the corona­virus crisis. / PBN FILE PHOTO/RUPERT WHITELEY

Perseverance, not panic, the path to surviving coronavirus crisis

None of us has been here before, in a rapidly collapsing economy with industries being shut down virtually overnight. But history is still the...
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