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THAT’S A WRAP: Cooley Group employee Jonathan Rosado Morales packages finished product, an environmental protection barrier for the U.S. military. Despite a shortage of raw material, Cooley has maintained its shipping schedules. / COURTESY COOLEY GROUP

Pandemic Diary: Shortages force creation of new strategies

(Editor’s note: This is the sixth installment in a weekly series on how Cooley Group is managing the COVID-19 pandemic, from the perspective of...
A CLOSER LOOK: Cooley extruder team leader Jaimie Rodriguez inspects the product as it’s being manufactured at the Pawtucket factory. CEO Daniel Dwight says Cooley has remained operational because of financial-resiliency planning. / COURTESY COOLEY GROUP

Pandemic Diary: The quest for financial resiliency

(Editor’s note: This is the fifth installment in a weekly series on how Cooley Group is managing the COVID-19 pandemic, from the perspective of...
WEBSTER FINANCIAL CORP.

Webster Bank reports 62% cut to first-quarter earnings

WATERBURY, Conn. – Webster Financial Corp., the parent company for Webster Bank, reported a $38.2 million first-quarter profit, representing a 62% cut to earnings...

Coping with COVID-19: Cooley Group

PAWTUCKET – Daniel Dwight, CEO and president of the Cooley Group, says his company has joined forces with an unlikely partner, a competitor, to...

What bank customers need to know: COVID-19 edition

PROVIDENCE – From reducing branch hours to deferring loan payments, banks across the state and the country are changing practices and policies in response...

Webster Bank named platinum-level healthy workplace employer

WATERBURY, Conn. – The Business Council of Fairfield County recently recognized Webster Bank as a platinum-level healthy workplace employer – the highest level of...

SBA: Citizens, BankNewport top list of lenders to R.I. small...

PROVIDENCE – Citizens Bank was the top lender to Rhode Island small businesses through the U.S. Small Business Administration’s 7a loan program from Oct....

Webster, Citizens named to Forbes’ 2020 Best Banks list

PROVIDENCE – Two local banks earned spots on Forbes’ 2020 America’s Best Banks list. Connecticut-based Webster Bank and Citizens Bank, in Rhode Island, both were...

Webster Bank reports $383M profit in 2019

WATERBURY, Conn. – Webster Financial Corp., the parent company for Webster Bank, brought in a $382.7 million profit in 2019, an increase of 6.2%,...
SHRINKING NUMBERS: Local banks have seen their net interest margin getting smaller over the last 12 months, which translates to lower interest income. That situation isn’t expected to change much in 2020./ SOURCES: SEC FILINGS; FDIC QUARTERLY BANKING PROFILE

Banks expected to continue feeling squeeze in lending margins

For Marc Perlman, principal owner and CEO of Ocean State Job Lot, the Federal Reserve’s outlook for 2020 is the best business fortune he...

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