Banking & Finance News
- Northwest Bank parent recognized by Forbes for trustworthiness
Northwest Bancshares Inc., the parent of Northwest Bank, made Forbes’ list of the nation’s most trustworthy financial companies for the fifth year.
- UR's Zimmerman receives national accounting award
The University of Rochester has announced a national award to recognize a professor’s contributions to the field of accounting.
- New M&T branch opens; Panera to go into former bank site
M&T Bank has opened a new branch in Irondequoit at 999 East Ridge Road, replacing a branch at 1001 East Ridge Road.
- Area homeowners owe much less on mortgages, Fed data show
Federal Reserve Bank of New York data show that the average homeowner in the Rochester area owes less than half the state average on his or her mortgage, with mortgage debt averaging $104,000 here, compared with $221,000 for the state as a whole and $187,900 for the U.S.
- ESL opens financial consultant office
ESL Investment Services, a subsidiary of the ESL Federal Credit Union, has opened its first office on Latta Road in Greece to provide financial consultation services.
- KeyBank names top management for Rochester area after merger
KeyBank has announced its new leadership team for the Rochester area, a group that reflects top people from both KeyBank and First Niagara Bank after the merger.
- Tompkins Financial Advisors names president
Brian Howard has been named president of Tompkins Financial Advisors, the wealth management division of the Tompkins Financial Corp.
- Epic Advisors acquires Maine company
Rochester-based Epic Advisors Inc., a national provider of retirement plan recordkeeping, marketing and related services, has acquired Actuarial Designs & Solutions based in Scarborough, Maine.
- Bankruptcy filings drop nearly 22 percent in July
After single-digit rises for the previous two months, area bankruptcy filings saw a double-digit drop in July.
- Merger-related costs reduce First Niagara's net income
First Niagara Financial Group Inc. reported net income available to shareholders of $38.9 million, or 11 cents a diluted share, for the second quarter. That’s down from $53.5 million, or 15 cents a share for the period in 2015.
- KeyCorp acquisition of First Niagara Financial Group closes
KeyCorp late Friday afternoon said it closed the deal on its acquisition of First Niagara Financial Group Inc., allowing the planned merger of KeyBank and First Niagara Bank to move forward.
- Snap Poll: Economy is rigged, most readers believe
Presidential hopefuls Donald Trump and Hillary Clinton don’t agree on much, but there’s at least one opinion they share: The U.S. economy is rigged. And more than three-quarters of respondents to this week’s RBJ Daily Report Snap Poll agree.
- Five Star Bank gears up for more expansion
- Branch changes planned
- Banks ready for opportunities with big merger
- Net income rises in Q2 at Financial Institutions
Financial Institutions Inc. reported net income of $6.8 million in the second quarter, up from $6.2 million for the same period last year.
- Northwest Bank parent posts Q2 loss
Northwest Bancshares Inc., the parent of Northwest Bank, announced a second-quarter net loss of $7 million, a decrease of $22.3 million compared with the same quarter last year.
- Tompkins Financial shares rise on Q2 report
Shares of Tompkins Financial Corp. rose nearly 4 percent Friday after the company reported an increase in second-quarter earnings, excluding a special item in the second quarter a year ago.
- Jury grants award to an ex-associate
- Potential Brexit impact at least two years away