Banking & Finance News
- First Niagara, M&T rank among insurance brokerage fee leaders
Brighton-based First Niagara Risk Management Inc. ranked sixth nationally and M&T Bank Corp. was 10th on a list of 20 banks with the largest insurance brokerage fee income for 2013.
- PricewaterhouseCoopers hit with $25M fine
PricewaterhouseCoopers LLP’s regulatory advisory services will be suspended for 24 months by the state Department of Financial Services and fined $25 million for improperly altering a report on Bank of Tokyo Mitsubishi, officials said Monday.
- Report shows delinquent debt levels for area consumers
Nearly 30 percent of Rochester’s residents have debt in collections and 5 percent have debt at least 30 days past due, a new report from the Urban Institute shows.
- Lyons National Bank to open Canandaigua site
Lyons National Bank’s full-service branch in Canandaigua will open Aug. 16, officials said this week.
- Financial analysts make much less here than nationally
The average pay for financial analysts in the Rochester market is well below the national average, while salaries for accountants are in line with the national mean, data released this week show.
- Citizens launches mobile capabilities
The parent of RBS Citizens N.A. in the Rochester market is the latest to introduce mobile check deposit and account balance capabilities, the firm announced Tuesday.
- M&T, other banks reach agreements with N.Y.
M&T Bank Corp. and 11 other banks with a presence in New York have reached agreements with state officials following complaints of discrimination from visually impaired customers.
- Mengel, Metzger Barr adds investigative accounting
Mengel, Metzger Barr & Co. LLP is adding investigative accounting to its portfolio of services, the company said Monday.
- Money Managers
Ranked by total assets managed locally as of December 31, 2013.
- ESL hires Evans for new business growth position
ESL Federal Credit Union has hired Malik Evans to fill its newly created position of business growth manager, company officials announced Thursday.
- Q1 economic net income rises 11% at Manning & Napier
Manning & Napier Inc. reported first-quarter economic net income of $27.6 million, up 11 percent from a year ago.
- Net income climbs in Q1 for Five Star Bank parent
Financial Institutions Inc. reported a 19 percent jump in its first-quarter profit and beat Wall Street estimates by a nickel a share.
- Bank of America reports first quarterly loss since 2011
Bank of America Corp. on Wednesday reported a quarterly net loss of $514 million attributable to common shareholders largely due to a $6 billion charge for litigation expenses.
- JPMorgan Chase profit falls 19 percent in Q1
JPMorgan Chase & Co., the largest employer and second-largest deposit taker among financial institutions in the Rochester market, reported a 19 percent drop in first quarter net income Friday, with earnings per share 13 cents short of analyst estimates.
- Rochester repo firm inks deal with AG
A Rochester vehicle repossession company is among 10 firms that inked a deal with state Attorney General Eric Schneiderman to stop seizing some borrowers’ cars.
- ESL Federal Credit Union opens 20th branch
ESL Federal Credit Union marked the opening of its 20th branch on Thursday. The new location is on Monroe Avenue at Twelve Corners in Brighton.
- M&T cuts net income after settling lawsuit
M&T Bank Corp. has reduced its net income for the fourth quarter by $24 million after settling a lawsuit involving its Wilmington Trust Co. subsidiary.
- Home Mortgage Lenders
Ranked by dollar volume of local residential mortgages closed in 2013.
- Tompkins Financial posts record net income
Tompkins Financial Corp. on Friday reported a 28 percent rise in net income in the fourth quarter, with earnings per share 13 cents better than analyst projections.
- First Niagara executive to leave firm
First Niagara Financial Group Inc.’s chief banking officer, Daniel Cantara III, will leave by the end of February after 13 years with the company, representatives said Friday.