Banking & Finance News
- 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.
- M&T, Hudson City extend merger agreement
The timeline for M&T Bank Corp.’s proposed merger with Hudson City Bancorp Inc. has been extended to the end of next year as it continues to deal with regulatory issues, the Buffalo-based bank announced Tuesday.
- Financial Institutions added to index
Financial Institutions Inc. will be added to the Nasdaq OMX ABA Community Bank Index as of Monday, officials said.
- CNB parent reports 29% rise in net income
Canandaigua National Corp. reported a 29 percent increase in third-quarter net income attributable to shareholders in what it expects to be its last public filing.
- SBA Lenders
In case of ties, lenders are ranked by numbers of loans in fisical year 2013.
Ranked by 2013 total dollar value of local deposits.
- Women in Banking Conference coming to Rochester
The New York Bankers Association is holding its Women in Banking Conference in Rochester on Oct. 30 at the Hyatt Regency Rochester. The event includes area and statewide banking officials serving on panels and breakout sessions.
- First Niagara tops Street estimates in Q3
First Niagara Financial Group Inc.’s third-quarter net income jumped 41 percent, with earnings per share beating Wall Street estimates by a penny, the company reported Friday.
- CPA Firms
Infomation was provided by individual CPA Firms that responded to an email survey. Ranked by number of local CPAs.
- Bonadio to merge with Buffalo-area CPA firm
Bonadio & Co. LLP plans to merge with Buffalo-area CPA firm Gaines Kriner Elliott LLP on Nov. 1, the Perinton-based company announced Thursday.
- Credit Unions
Information was provided by individual credit unions that responded to an email or fax survey. The survey contacted federally chartared credit unions in Monroe, Genesee, Livingston, Ontario, Orleans and Wayne counties that are insured by the National Credit Union Share Insurance Fund.
- Accounting firm partner Vincent Sirianni dies in crash
Vincent Sirianni Jr., who co-founded Daly, Sirianni and Co. CPAs LLP in 1987 before joining Davie Kaplan CPA P.C. in 2009 as a partner, died this week in a car accident in Canandaigua.
- Judge denies motion by Kodak shareholders
A U.S. Bankruptcy judge has denied an effort by Eastman Kodak Co. stockholders to have the court establish an official committee to represent the interests of equity security holders in the Chapter 11 case.