Community banks dabble with voice banking, but still not fully sold
Bank Independent in Alabama is the latest small bank to start using Alexa, though implementation costs and security concerns continue to hold others back. ... Read full article
News Topic: Massachusetts
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State Street fails to reassure markets on costs
The custody bank was very profitable, and it raised its cost-saving forecast for year-end, but its nearly 3% increase in third-quarter noninterest expenses prompted an investor backlash. ... Read full article
Boston Private to cut costs, sell advisory business
The company said it is trying to improve shareholder returns as rising rates cut into its net interest margin. ... Read full article
Boston banks bulk up to keep pace with industry heavyweights
The added heft will help companies like Independent Bank and Berkshire Hills better compete with the bigger banks that control much of the region’s deposits, and perhaps give them a leg up on other giants, including JPMorgan Chase, moving into the Boston ... Read full article
Second M&A deal in four months for Independent in Mass.
The acquisitive company plans to buy Blue Hills Bancorp to boost its footprint in eastern Massachusetts. ... Read full article
Massachusetts bank to have first new CEO in two decades
Edward Doherty is set to succeed Janice Houghton when she retires in November. ... Read full article
Cape Cod Five makes sure its interns stick around
Cape Cod Five Cents Savings Bank has transformed its summer intern program so that it is more structured and attracts students who could see themselves staying in the industry. ... Read full article
Nonprofit for at-risk kids is helping banks solve cyber talent shortage
BNY Mellon, JPMorgan and Bank of America are recruiting interns from Year Up, many of whom lack college degrees but are trained in high-demand fields such as cybersecurity and anti-money-laundering. ... Read full article
Why bank M&A has been so quiet in the Northeast
Once a hotbed of activity, the region has reported the fewest bank mergers since the financial crisis. ... Read full article
Hometown Financial enters eastern Mass. with Pilgrim acquisition
The $54 million purchase of Pilgrim Bancshares will give Hometown branches in all three regions of Massachusetts. ... Read full article
Tapping the market: Why this bank helped brew a craft beer
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. ... Read full article
Crossing state lines: Peoples to enter Connecticut with first acquisition
PeoplesBancorp in Holyoke, Mass., has agreed to buy First Suffield Financial in Connecticut for $60 million. ... Read full article
This black-owned bank treats activism as a business line
OneUnited in Boston recently issued a debit card supporting immigrants, taking a public stand on a divisive national issue. ... Read full article
Equifax reaches deal with 8 states on steps to avoid future breaches
Under a consent order with Texas and seven other states, the Atlanta-based credit reporting firm agreed to shore up its information security efforts, but it will not have to pay any financial penalties. ... Read full article
Radius in Boston working with fintech firm on online business checking platform
The internet-only bank plans to offer businesses a way to quickly open accounts online. ... Read full article
Four de novo organizers settle on their banks' names
A group in North Carolina has finally gone public with its brand, and three other de novos have already been rebranded. ... Read full article
Independent in Mass. to gain wealth management assets from MNB deal
The company will also acquire three branches in Worcester County, Mass., when it buys the parent of Milford National Bank and Trust. ... Read full article
United Financial in Conn. to enter new markets with branch purchase
The company will snag its first branches in three towns in Connecticut and Rhode Island after buying locations from Webster Financial. ... Read full article
Benefits of beta: Small banks look past risk in pairing with startups
While working with new fintechs carries some risk, it can also provide community banks with an affordable way to upgrade products and technology. ... Read full article
Trade pact: U.S. and U.K. savings banks share tips, challenges
Call it mutual respect. Bankers from mutually owned British building societies and similarly structured U.S. thrifts recently gathered in New England to address common challenges and share ideas about staying relevant at a time of rapid change in financial ... Read full article