Bankruptcy Blogs

Avidia Bank in Massachusetts collaborated with Exhibit 'A' Brewing to produce and sell an IPA as part of a plan to boost marketing to small businesses and millennials.

The Birmingham, Ala., bank also saw lending decline in the quarter as strategic reductions in certain business lending lines offset gains in C&I and consumer.

State Street said it would suspend a share repurchase program and issue common and preferred stock to pay for the deal.

The company has created a municipal group that will focus on nonpublic financing services at a time when loans to bond issuers are declining.

Yet margin improvement proved to be the decisive factor in a strong quarter in which total lending was flat.