Banking & Finance News
Ranked by 2014 total dollar value of local deposits.
- Generations Bank opens Ontario County site
Generations Bank has opened a branch in Ontario County featuring five interactive machines without tellers.
- CPA Firms
Ranked by number of local CPAs
- SBA Lenders
Ranked by dollar volume of 7(a) loans approved locally during the SBA'S last completed fiscal year.
- Vuzix reports switch from EFP to Freed Maxick
EFP Rotenberg LLP no longer is the accounting firm for Vuzix Corp., a filing with Securities and Exchange Commission states. On Oct. 3, Freed Maxick LLP became the independent registered public accounting firm for Vuzix.
- M&T to issue $2.9 million in refunds
M&T Bank Corp. will provide refunds totaling $2.9 million to 59,000 customers for deceptively advertising free checking accounts, the Consumer Financial Protection Bureau said Thursday.
- Credit Unions
Ranked by total assets as of December 31, 2013.
- 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.